For years, decades even, New York has been dithering about an impending budget catastrophe: the ever-escalating cost of offering gold-plated and utterly outdated pension benefits to public employees. Everybody knew something had to be done. There were some brave attempts to create a fix here and there, but unions made it clear that they would Read More
Meet the Public
Mayor Mike Bloomberg made his annual Blue Room budget presentation for the New York City press corps this afternoon and took aim at officials in Albany and Washington who he said are taking money from the city’s coffers.
“We are in better shape than most cities for two prime reasons: we’ve made smart investments in Read More
New York City’s only Repubilcan congressman, freshman Michael Grimm, got a mixed reaction from the crowd in Brooklyn last night, thanks to his vote in favor of the Republican budget plan that severely cut back spending on social programs like Medicaid and Medicare.
“Get it all out Get it all out,” Read More
New Yorkers for Fiscal Fairness, an advocacy group dedicated to mitigating some of the harshest cuts in Gov. Andrew Cuomo’s budget, is out today with a radio ad targeting the governor and lawmakers over the millionaire’s tax.
The ad, which is set to air in New York City and the state’s major metropolitan regions, ties Read More
Andrew Cuomo, who has taken his budget barnstorming around the state, makes the case to New Yorkers who couldn’t make it to Rochester or Hempstead or Binghamton with a video delivered from the Red Room, which he calls the most beautiful room in the entire state Capitol.
Cuomo tries to pin the prospect of a Read More
Mayor Bloomberg released his preliminary budget today which aims to close a $4.58 billion deficit without increasing taxes.
Bloomberg’s budget outlines a plan to soften the worst of the blows suffered from state funding cuts to education and city services. The plan increases education funding to compensate for some of the loss while relying on Read More
New York lawmakers Peter King and Nita Lowey sent a letter to President Obama today imploring him to meet New York’s financial needs for homeland security in his proposed budget for the fiscal year 2012.
Peter King serves as the chairman of the Committee on Homeland Security, and Lowey is the only New Yorker on Read More
Planes Trains & Automobiles
In their ideological zeal, the new Republicans on Capitol Hill seem eager to gamble everything — the financial reputation of the United States, the international status of the dollar, even the chance of a worldwide depression — on a showdown over the national debt ceiling. What has been mostly a routine if unpleasant debate in Read More
A group of 30 transit advocates, environmentalists, planners and labor leaders sent Governor-elect Andrew Cuomo a letter [PDF] this morning with a simple request: Don’t allow, or, god forbid, encourage, the Legislature to continue raiding dedicated transit funds for the purpose of covering budget shortfalls.
The Paterson administration did exactly that not Read More
It reads like a joke, but it should make a taxpayer weep: State lawmakers, always willing to take the easy way out of a fiscal mess, have agreed on a plan that would allow Albany and local governments to borrow from their pension funds to make payments to … pension funds.
Yes, you read Read More