A more extreme version of the problems confronted by most cities nationwide: overly generous compensation packages and restrictive union contracts. But Yonkers' case is worse than most. What has escorted Yonkers to the brink is a uniquely irresponsible culture of fiscal (mis)management, going back for decades.
Does this mean that New York state government should take over Yonkers, as it has done twice before? No, not necessarily. Takeovers are controversial and often ineffective in the long term. Yonkers' own struggles with fiscal recidivism is a perfect case in point. A more logical solution would be to provide the city with more authority to deal with its most pressing problems relating to collective bargaining and unsustainable compensation trends.