Two weeks later, President Gerald R. Ford angered many New Yorke

Two weeks later, President Gerald R. Ford angered many New Yorkers by refusing to grant the city a bailout, a decision famously summarized by the propagandized New York Daily News headline "Ford to City: Drop Dead." Ford would later sign the New York City Seasonal Financing Act of 1975 which extended $2.3 billion worth of federal loans to the city for three years.^[9]