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New York City Comptrollers published similar concerns [1]. I suppose you could apply your point equally to NYC these days :-)

YES, remember who they elected in NYC :)

A mayor who balanced the city’s budget.

the balance heavily relies on a mix of state bailouts and new tax revenues

Increasing taxes is a textbook method of balancing government budgets.

It's pretty surprising considering all the bums they've elected over the previous few decades.