The mayor can speak for himself and so can the city financial consultants.
The crisis could come to head this summer unless a long series of measures proposed by City Administrative Officer Miguel Santana because massive borrowings will be needed to get through next fiscal year.
Without sharp cuts in costs, investors will demand higher interest rates. They are looking at the reserve fund and what steps are being taken to reduce spending.
“All the investors we watch want to make they’re catching a falling knife,” one consultant quoted a bond underwriter as saying.