Stuart Varney: Democrat-run cities are past the tipping point
Major US cities see surge in lawless behavior
Stuart Varney: Democrat-run cities are past the tipping point
Varney & Co. host Stuart Varney argues the immigration, crime, and homelessness problems plaguing Democrat cities are a self-inflicted wound.
During his "My Take" Friday, "Varney & Co." host Stuart Varney discussed the immigration, crime, homelessness, and drug problems plaguing Democrat-run cities, arguing unless there's a Biden bailout, cities will begin to cut services or borrow money at "astronomical" interest rates.
STUART VARNEY: Big Democrat cities are in crisis.
Chicago, New York, San Francisco, Los Angeles, Philadelphia, and Washington, D.C.
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I think they've passed the tipping point.
They're not going to make a comeback any time soon and that has profound consequences for everyone.
Chicago, New York City and Los Angeles. (Gary Hershorn/Scott Olson via Getty Images / Getty Images)
Look at this. Teens run riot in Chicago. Mayor Brandon Johnson says don't call it a "mob."
Call it a "large gathering." Hard to see Chicago turning around.
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Look at the sidewalks of New York. Migrants sleeping under the stars, using the streets as a toilet.
More arrive every day. Locals don't like it. They're staying home. The city is at the breaking point.
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You've seen the mass exodus of businesses and people from San Francisco.
Run out of town by crime, homelessness, and fentanyl. Same in Los Angeles.
SAN FRANCISCO: Homeless people consume illegal drugs in an encampment along Willow St. in the Tenderloin district. (Gary Coronado / Los Angeles Times via Getty Images / Getty Images)
Then there's D.C. Many of those huge federal buildings are only 25 percent full. Government workers prefer remote work.
They don't want to come into the nation's capital. Think this through. We're just beginning to understand the financial impact.
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These cities are drowning. Income tax revenue is down. Sales tax down. Corporate tax down.
Crime costs up, welfare costs up, and the cost of taking care of migrants is astronomical.
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Who pays the debt? There will be a demand for a city bailout.
After all, they are run by Democrats and there's a Democrat in the White House and there's an election coming, but it won't be popular in the country as a whole.
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If there's no bailout, cities either cut services or borrow at astronomical interest rates.
We are at that tipping point. With these cities, it is a self-inflicted wound.