A new study by Wallet Hub finds New York City ranks 148 out of 150 U.S. cities in terms of how well the city is run. Are we really the third worst run city in the country? I'm not sure I buy their methodology but it is worth a look.
On education, Wallet Hub ranks NYC 107. That is not that good.
From SI Live's article on the study:
"New York ranked as the third worst-run city in America. It has the third highest budget per capita, at almost $14 million, but it's not necessarily spent efficiently, especially when it comes to financial stability and education," said Jill Gonzalez, WalletHub analyst.
She noted the city is also saddled with debt, and has a high drop out rate.
"New York has the fourth highest long-term debt per capita at $17,308, and the sixth lowest high school graduation rate at 69.6 percent," said Gonzalez.
We have the sixth lowest high school graduation rate of cities in the country? That is hard to believe.
Does every city just push the kids through high school by grade inflating?
In terms of the economy, Wallet Hub makes a big deal out of long term debt which might not be that huge a problem considering the very low interest rates we have been borrowing under for most of the last decade. Comptroller Scott Stringer reported in May that the NYC economy is healthy as the city outperforms the nation as a whole.
What do you think?