Gifts to One's Successor
Mayor Michael Bloomberg today announced that his successor, Bill de Blasio, will become the first new mayor in modern history to inherit a balanced budget–but Mr. de Blasio’s team says he remains “concerned” nonetheless.
“For the first time in modern memory and perhaps for the first time in New York City history, the budget for the incoming fiscal year has been balanced for an incoming mayor well before he or she steps into office,” said Mr. Bloomberg, reporting the new numbers at a press conference at City Hall.
In a “breaking news” story in The Onion this morning, the satirical newspaper reported Congress took a group of touring school kids hostage in the Capitol rotunda, demanding $12 trillion by 6 p.m. or they’ll shoot a kid every hour. For once, House Speaker John Boehner (R-OH) and Sen. Harry Reid (D-NV) are cooperating to reduce the deficit.
If even Japan, which is by now well acclimated to economic stagnation, is breaking open its coffers for a round of government-funded economic stimulation, why can’t the U.S. take another Treasury-funded romp into the private sector?
Such is the question raised today by Bloomberg’s Liz Capo McCormick and Susanne Walker. They contend that, with the Read More
As 2008 comes to a close, it really has been the best and worst of years. The economy, the continuing carnage in Iraq, the persistence of extreme poverty and the steady destruction of the planet are certainly on the negative side of the annual ledger. But, as we look toward 2009 there is reason to Read More