In late 1945, after the end of the Second World War, New York was the capital of the Western world - a city supreme in wealth, opportunity and prestige.

By the end of 1975, New York City was effectively bankrupt. State officials imposed an Emergency Financial Control Board overtop of New York's budget process, temporarily ending home rule. Mayor Abe Beame was forced to lay off tens of thousands of workers in a desperate effort to avert an even greater financial catastrophe.

Debt.City is the story of how three mayors led the Western world's most powerful civic government into financial disaster after a decade of financial gimmicks, misleading budgets and uncosted commitments.