The state is also suffering a major fiscal crisis that is impacting its budget, pension fund and tax revenue — and the capital city of Hartford is teetering on the brink of bankruptcy. (entrepreneur.com)
Mr. Martin averted a major fiscal crisis, eliminated the deficit in three years, reduced the government's debt, strengthened the Canadian banking system, and reformed the Canada Pension Plan. (3dpolicy.ca)
Albany technically has the power to govern the city, and arguably did so with strict oversight of municipal spending set up through the Financial Control Board after the state bailout in 1975 when the city suffered a major fiscal crisis. (cityandstateny.com)