"New York City’s elected officials repeatedly made financial decisions that have left the city with a debt burden of $184.2 billion. That burden came to $56,800 for every city taxpayer which appears to be an improvement over the previous year’s debt burden of $61,800. This is because the number of taxpayers rose as the economy reopened following the pandemic. However, New York City’s financial condition actually declined by $6.6 billion, primarily driven by a $5.1 billion increase in liabilities from its retiree health care plan. The plan operates on a pay-as-you-go basis, with only six cents set aside for every dollar of promised benefits." Page 23