On October 30, 1975, the New York Daily News printed the most famous headline in its history: “Ford to City: Drop Dead.” The previous day, President Gerald Ford had delivered a speech at the National Press Club in Washington on the looming bankruptcy of New York City. In the speech, Ford publicly denied the near-bankrupt New York City a federal bailout. The next morning, the streets of Manhattan were littered with the incendiary headline.
It has been fifty years since the publication of the headline, which presents an opportunity to reconsider this historical period. In this special edition episode, host Ryan Purcell talks with Benjamin Holtzman, Assistant Professor of History at Lehman College (CUNY), about the soundtracks behind New York’s fiscal crisis. Holtzman is the author of The Long Crisis: New York and the Path to Neoliberalism (Oxford University Press, 2023), a volume that returns to this turbulent period to explore the origins and implications of the diminished faith in government as capable of solving public problems. In the wake of the fiscal crisis of 1975, Holtzman argues, local people and officials rebuilt the city from the ground up, creating a system that would both exacerbate old racial and economic inequalities and produce new ones that continue to shape metropolitan areas today.
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