Introduction
Each year Truth in Accounting (TIA) researches and publishes a report on the fiscal health of the 75 largest US cities. This writing is a summary of data presented in a report published by TIA on January 26, 2021: “Financial State of the Cities 2021.”
In addition to the data provided by the TIA report, included is information about the party affiliations of each city’s mayor, and city population data. It is critical to note that the data provided by TIA is pre-coronavirus.
Summary: Financial Soundness of 75 Largest US Cities
Of the 75 cities researched, only 13 of them operated in the black. Of these, 7 were led by democrat mayors and 6 by republican mayors. The total cumulative budgetary shortfall for the 62 cities operating in the red is $354,797, 120,000. This figure is nearly identical to the amount democrats are proposing to add to the Covid relief bill in the form of state bailouts.
There are more than 3 times as many democrat mayors than republicans in the group. However, democrats accounted for almost 30 times the amount of debt. Republicans have a legitimate argument that the state bailout proposal is more political than a means to helping taxpayers recover from the effects of the pandemic. I will leave it to the reader to draw his/her own conclusions.
Local Politics and Fiscal (mis) Management
The party affiliations of the 75 city mayors were 53 democrat, 16 republican and 6 independent. While there are more than 3 times as many democrat mayors than republicans in the group, democrats accounted for almost 30 times the amount of debt than republican led cities.
| Party Affiliation | # of Mayors | Cumulative Deficit | Population Represented | % of US |
|---|---|---|---|---|
| Democrat | 53 | ($337,302,760,000) | 44,497,668 | 13.4% |
| Republican | 16 | ($11,358,600,000) | 5,382,717 | 1.62% |
| Independent | 6 | ($6,135,760,000) | 3,533,181 | 1.06% |
20 Cities, 9 States, Billions of Debt
There is a complete list of all of the data at the end of this essay. In terms of the fiscal health of the 75 largest US cities, 20 cities in 9 states accounted for 75% of the budget shortfalls of the 75 cities in the study. 17 of these cities are led by democrat mayors, 2 by independents and 1 by a republican. These cities are in states typically considered ‘blue.’
The vast majority of these cities have large, extremely wealthy populations. As mentioned in a previous writing, it is disingenuous for democrats to argue they are the “working man’s party” as, with the exception of three, all have democrat mayors. All are led by democrat governors with the exceptions of Maryland and Massachusetts.
| State | Shortfall | Population Affected | % of US |
|---|---|---|---|
| CA | $19,896,500,000 | 10,303,142 | 3.10% |
| HI | $3,500,000,000 | 341,302 | 0.10% |
| IL | $36,400,000,000 | 2,670,406 | 0.80% |
| MA | $3,100,000,000 | 695,506 | 0.21% |
| MD | $3,800,000,000 | 575,584 | 0.17% |
| MN | $343,700,000 | 749,380 | 0.23% |
| NY | $194,400,000,000 | 8,622,357 | 2.60% |
| OR | $4,400,000,000 | 662,549 | 0.20% |
| WA | $926,700,000 | 776,555 | 0.23% |
| TOTAL | $266,766,900,000 | 25,396,781 | 7.65% |
Hold Your City Leadership Accountable
I knew that many US cities were in financial dire straits. I was shocked, however, by the extent and pervasiveness of the problem. Regardless your personal political affiliation, it is imperative that you take action to hold mayors and city councils accountable. While the voting booth is one course of action, publicly questioning them at public council meetings is more immediate and likely more effective.
Politics is local and your local politicians are spending and wasting your tax dollars foolishly.
Fiscal Health of the 75 Largest US cities, Ranked
For the purposes of this exercise, TIA did the ranking based upon each city’s budget surplus (or shortfall) and divided it by the number of taxpayers funding the budgets. In what I believe was an attempt to remain politically neutral, TIA did not include any mention of the political affiliation of the mayors; this was added by me. I also added population data to demonstrate the personal and social impact of the surpluses and deficits.
| Rank | City | Surplus / Taxpayer | Total Surplus | Mayor | Population |
|---|---|---|---|---|---|
| 1 | Irvine, CA | $4,100 | $610,900,000 | DEM | 298,739 |
| 2 | Washington, D.C | $3,400 | $920,400,000 | DEM | 714,153 |
| 3 | Lincoln, NE | $3,400 | $317,100,000 | DEM | 293,446 |
| 4 | Stockton, CA | $3,000 | $299,800,000 | REP | 314,835 |
| 5 | Charlotte, NC | $3,000 | $765,600,000 | DEM | 912,096 |
| 6 | Aurora, CO | $2,400 | $326,500,000 | REP | 388,723 |
| 7 | Fresno, CA | $2,300 | $390,300,000 | REP | 537,100 |
| 8 | Raleigh, NC | $2,200 | $308,200,000 | DEM | 483,579 |
| 9 | Plano, TX | $1,400 | $164,000,000 | REP | 285,537 |
| 10 | Tampa, FL | $400 | $173,400,000 | DEM | 404,636 |
| 11 | Oklahoma City, OK | $100 | $61,200,000 | REP | 669,347 |
| 12 | Wichita, KS | $100 | $15,900,000 | DEM | 391,352 |
| 13 | Tulsa, OK | $17 | $1,800,000 | REP | 402,742 |
| 14 | Long Beach, CA | ($100) | ($20,200,000) | DEM | 456,154 |
| 15 | Minneapolis, MN | ($200) | ($22,100,000) | DEM | 439,012 |
| 16 | Arlington, TX | ($700) | ($23,300,000) | REP | 400,316 |
| 17 | Colorado Springs, CO | ($1,000) | ($125,900,000) | REP | 489,529 |
| 18 | Greensboro, NC | ($1,100) | ($87,800,000) | DEM | 301,094 |
| 19 | Corpus Christi, TX | ($1,100) | ($101,700,000) | IND | 327,144 |
| 20 | Chula Vista, FL | ($1,300) | ($98,400,000) | DEM | 281,838 |
| 21 | Orlando, FL | ($1,400) | ($118,400,000) | DEM | 290,520 |
| 22 | Bakersfield, CA | ($1,400) | ($170,100,000) | DEM | 389,007 |
| 23 | Fort Wayne, IN | ($1,600) | ($134,100,000) | DEM | 276,286 |
| 24 | Henderson, NV | ($1,700) | ($178,800,000) | DEM | 341,531 |
| 25 | Las Vegas, NV | ($1,800) | ($37,960,000) | IND | 667,501 |
| 26 | Atlanta, GA | ($1,900) | ($262,400,000) | DEM | 524,067 |
| 27 | Saint Paul, MN | ($2,900) | ($321,600,000) | DEM | 310,368 |
| 28 | Riverside, CA | ($3,100) | ($330,700,000) | IND | 334,772 |
| 29 | Louisville, KY | ($3,200) | ($537,300,000) | DEM | 615,924 |
| 30 | Toledo, OH | ($3,200) | ($285,700,000) | DEM | 268,609 |
| 31 | Columbus, OH | ($3,300) | ($982,700,000) | DEM | 913,921 |
| 32 | Cleveland, OH | ($3,400) | ($427,400,000) | DEM | 376,599 |
| 33 | Seattle, WA | ($3,400) | ($926,700,000) | DEM | 776,555 |
| 34 | San Antonio, TX | ($3,500) | ($1,500,000,000) | IND | 1,579,504 |
| 35 | Sacramento, CA | ($3,700) | ($607,500,000) | DEM | 525,398 |
| 36 | Virginia Beach, VA | ($3,900) | ($574,900,000) | REP | 450,224 |
| 37 | Indianapolis, IN | ($3,900) | ($1,100,000,000) | DEM | 887,232 |
| 38 | Los Angeles, CA | ($4,000) | ($5,100,000,000) | DEM | 4,085,014 |
| 39 | Memphis, TN | ($4,300) | ($810,000,000) | DEM | 651,011 |
| 40 | San Diego, CA | ($4,700) | ($2,100,000,000) | DEM | 1,469,490 |
| 41 | Mesa, AZ | ($4,900) | ($717,200,000) | REP | 538,146 |
| 42 | El Paso, TX | ($5,200) | ($994,600,000) | DEM | 685,434 |
| 43 | Santa Ana, CA | ($5,400) | ($571,900,000) | DEM | 333,130 |
| 44 | Albuquerque, NM | ($5,600) | ($850,700,000) | DEM | 562,281 |
| 45 | Denver, CO | ($5,800) | ($1,500,000,000) | DEM | 749,103 |
| 46 | Detroit, MI | ($6,100) | ($1,300,000,000) | DEM | 664,139 |
| 47 | Anaheim, CA | ($6,200) | ($696,100,000) | REP | 349,699 |
| 48 | Anchorage, AK | ($6,400) | ($665,400,000) | IND | 282,958 |
| 49 | Phoenix, AZ | ($6,500) | ($3,100,000,000) | DEM | 1,743,469 |
| 50 | Omaha, NE | ($7,500) | ($1,200,000,000) | REP | 479,978 |
| 51 | Austin, TX | ($7,600) | ($2,100,000,000) | DEM | 1,011,790 |
| 52 | Tucson, AZ | ($8,400) | ($1,300,000,000) | DEM | 554,503 |
| 53 | Lexington, KY | ($9,200) | ($821,200,000) | REP | 324,604 |
| 54 | Fort Worth, TX | ($9,400) | ($2,400,000,000) | REP | 942,323 |
| 55 | Jacksonville, FL | ($10,100) | ($2,800,000,000) | REP | 929,647 |
| 56 | San Jose, CA | ($10,300) | ($3,400,000,000) | DEM | 1,036,242 |
| 57 | Kansas City, MO | ($11,300) | ($1,700,000,000) | DEM | 501,957 |
| 58 | Houston, TX | ($11,600) | ($7,500,000,000) | DEM | 2,378,146 |
| 59 | Boston, MA | ($12,000) | ($3,100,000,000) | DEM | 695,506 |
| 60 | Milwaukee, WI | ($13,500) | ($2,800,000,000) | DEM | 587,721 |
| 61 | Dallas, TX | ($13,500) | ($5,100,000,000) | DEM | 1,400,337 |
| 62 | Miami, FL | ($14,200) | ($2,000,000,000) | REP | 478,251 |
| 63 | St. Louis, MO | ($14,600) | ($1,300,000,000) | DEM | 294,890 |
| 64 | Cincinnati, OH | ($15,200) | ($1,500,000,000) | DEM | 307,266 |
| 65 | Pittsburgh, PA | ($16,000) | ($1,600,000,000) | DEM | 299,718 |
| 66 | San Francisco, CA | ($16,300) | ($4,600,000,000) | DEM | 883,255 |
| 67 | Oakland, CA | ($17,000) | ($2,300,000,000) | DEM | 440,981 |
| 68 | Baltimore, MD | ($18,000) | ($3,800,000,000) | DEM | 575,584 |
| 69 | New Orleans, LA | ($20,000) | ($2,000,000,000) | DEM | 388,424 |
| 70 | Portland, OR | ($20,400) | ($4,400,000,000) | DEM | 662,549 |
| 71 | Nashville, TN | ($22,000) | ($4,300,000,000) | DEM | 678,448 |
| 72 | Philadelphia, PA | ($25,700) | ($13,600,000,000) | DEM | 1,590,402 |
| 73 | Honolulu, HI | ($29,600) | ($3,500,000,000) | IND | 341,302 |
| 74 | Chicago, IL | ($41,100) | ($36,400,000,000) | DEM | 2,670,406 |
| 75 | New York City, NY | ($68,200) | ($194,400,000,000) | DEM | 8,622,357 |
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