Blog

New York State’s biggest public pension fund underperformed last year, returning 154 basis points less than the 7.5 percent return assumed in its actuarial calculations, which in turn ultimately drive taxpayer-funded pension contributions. Read More

A big wheel at Deutsche Bank, chief risk officer and board member Hugo Bänziger, has some portentous thoughts about banking (and therefore, about New York City and State finances) in today's FT. Read More

A big wheel at Deutsche Bank, chief risk officer and board member Hugo Bänziger, has some portentous thoughts about banking (and therefore, about New York City and State finances) in today’s FT... Read More

A bill pending in the state Senate would weaken a key underpinning of welfare reform -- the Work Experience Program, or WEP. This is a one-house measure for now, and it's sponsored by a member of the democratic minority, to boot. But many of Albany's worst ideas have been born as one-house minority bills, so this one bears watching. Read More

Another sign of the permanent structural change in New York’s state and city tax base: today’s warning by Fitch Ratings that the world’s largest banks (including NY-based Goldman and Chase) will need to raise $566 billion to satisfy new capital requirements to protect against capital shocks. Read More

A forthcoming academic study will provide further evidence that a proposed increase in New York State's minimum wage will destroy job opportunities for young people. Read More

The Citizens Budget Commission has posted some nifty charts breaking out the difference between New York State and the U.S. averages for different categories of public elementary and secondary school spending. One noteworthy data point: between 1999 and 2009, spending per pupil on employee benefits for instructional staff rose 169 percent in New York... Read More