This comes from my doing 14 municipal budgets when I was on the town council in western New York. We always wanted about 15% in reserves. We had about $3 billion in reserves. Almost nothing, negligible. And I had to build that up because everybody kept talking about there's gonna be a recession or something bad is going to happen. (27:41–27:47)
CLAIM
Asserts that New York had about $3 billion in reserves, which was considered negligible.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
