“China’s much-vaunted stimulus package has exacerbated structural imbalances in the economy and may delay the country’s transition to a more sustainable growth model. … [M]ost of the stimulus [has] gone to the state sector.” — Financial Times, 8/21/09

“On June 24, 2009, President Obama signed the Supplemental Appropriations Act to the American Recovery and Reinvestment Act. The Supplemental Act permits the [New York Metropolitan Transportation Authority] to utilize 10 percent of the federal stimulus funds it has been allocated to operating expenses. … One way for the MTA to accomplish this would be through a deferral of its capital programs.” — State of New York Public Employee Relations Act, in awarding the Transport Workers Union 11.3 percent raises over three years, 8/11/09

“We are going to have to raise fares again and again and again unless some day we stop all this craziness, make the investment so that we can provide a better service to more people with less labor. What on earth the arbitrators were thinking about.” — New York Mayor Michael Bloomberg*, 8/21/09**

*Ignoring the fact that the mayor did not set a good example with the workforce that he actually controls, as he gave out raises nearly identical to what the arbitrators eventually ruled that the MTA must give to the TWU.

**And further ignoring the fact that the mayor did not publicly speak out against the generous agreement tentatively set between Gov. Paterson and the TWU last year, before it was a done deal sealed by arbitrators ten months later, and thus when the mayor’s words could have made a difference.