Angry New Yorker

Tuesday, April 27, 2004
The New York Times Puts On Its "Don't Worry Be Happy" Rose-Colored Glasses
Read this article, In Budget Plan, Bloomberg Proclaims Healthy Surplus that ledes:

"Declaring that the city's economic recession is over, Mayor Michael R. Bloomberg released a $46.9 billion budget proposal yesterday that foresees a surplus of $1.3 billion this year to help finance tax breaks for homeowners and wage increases for all city workers."

Then, actually watch the news conferences (links in posting below), or skim the budget presentations. The contrast with the New Times' article is stark. New York City faces a looming financial precipice as non-discretionary and entitlement spending grows inexorable and much, much faster than wages in the city. Yet, from the Times' article you'd think, that's it, party on dude!! Far from it. Not only do we face budget gaps for the next several years, but the budget is growing in virtually every facet as the spend-happy city council pumps up costs while state-imposed and union hammered contracts siphon ever larger amounts from the budget.

It can't continue for ever. And Bloomberg isn't letting New Yorkers' know that a financial disaster awaits us in the future. But, hey, party on dudes!!

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