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Seth Barron and Nicole Gelinas discuss the coronavirus outbreak in New York City, the drastic measures being taken to control its spread, and the consequences of an economic slowdown for the city and state budget, the MTA, and New York residents.
New York—particularly New York City—is moving toward a full shutdown. Over the past week, schools have cancelled classes for an extended period and restaurants, bars, and many other businesses have closed. The historic losses in revenue to the city’s public-transit system alone will require a multibillion-dollar bailout, Gelinas believes. Read more of City Journal’s COVID-19 coverage here.
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It will be interesting to see how this all shakes out: financially, whether living in the city is always the best thing.