With President Donald Trump ordering a review of funding of Democratic-run cities (or what a memo calls "anarchist jurisdictions"), now would be a good time to recall just how vital New York City is to the U.S. economy.
bloomberg.com/opinion/articl…
bloomberg.com/opinion/articl…
The nominal GDP of the NYC metro area is $1.8 trillion, or almost 10% of the overall output of America’s metropolises.
That's a greater share than 2009, even though other cities like Portland and Seattle (also targeted by the memo) grew faster during the expansion.
That's a greater share than 2009, even though other cities like Portland and Seattle (also targeted by the memo) grew faster during the expansion.
If you target New York City, you're aiming for Wall Street.
Finance still rules the Big Apple, even after the 2008 crisis.
Finance still rules the Big Apple, even after the 2008 crisis.
The region is also America's spending engine.
Residents in New York and surrounding states spend more per capita than those who live elsewhere in the country.
Residents in New York and surrounding states spend more per capita than those who live elsewhere in the country.
Meanwhile, the MTA can’t go bankrupt, but also can't survive without federal funds.
NYC needs residents to feel comfortable getting around like before. More people took MTA transportation in 2019 than the next 11 largest U.S. transit agencies combined.
bloomberg.com/opinion/articl…
NYC needs residents to feel comfortable getting around like before. More people took MTA transportation in 2019 than the next 11 largest U.S. transit agencies combined.
bloomberg.com/opinion/articl…
Here are more details on President Trump's memorandum.
House Democrats called the move illegal, while New York Senator Chuck Schumer vowed to protect NYC from any threat to funding.
bloomberg.com/news/articles/…
House Democrats called the move illegal, while New York Senator Chuck Schumer vowed to protect NYC from any threat to funding.
bloomberg.com/news/articles/…
