The best fiscal news for New York in ages is that three and a half years ago, the city lost its bid to host the 2012 Olympics. This week, the UK, which won the bid, , because the private partners couldn't find financing for the "Olympic Village" a Read More
For New York, it's not paying (anymore) to be home to the smartest guys in the room. Since its credit-bubble peak, the securities industry has cut 3.1 percent of its jobs nationwide, according to the Securities Industry and Financial Markets Assoc Read More
Today's New York Times "a growing sense" in Albany that the Democrats who now control state government will seek to raise state income taxes on "the wealthiest New Yorkers" to help close a $15 billion budget gap. The Times articl Read More
Congratulations to President Obama! One of the new president's first tasks will be figuring out how to get Congress to fix the stimulus bill that the House proposed last week. In its current form, the bill won't do much for road and rail infras Read More
Data point #1. Metropolitan Transportation Authority executive director Elliot Sander and the authority's board members attracted more than 600 people to their marathon six-and-a-half-hour fare-hike and service-cut hearing in Manh Read More
In a interview in yesterday's Journal, David Swensen, the longtime chief investment officer for Yale's endowment, had an implicit warning for public pension funds and other supposedly "sophisticated" investors (ha ha) whose overseers thi Read More
Congressman Anthony Weiner, a probable mayoral candidate, showed yesterday that if he does run, he's going to campaign against Mayor Bloomberg's fiscal record over the past eight years -- and boy, does Weiner have a lot of material. Most startlin Read More
In recent months, states and cities have lobbied for their piece of the bailout pie. Among other requests, they've asked the federal government to support municipal bond markets by directly buying municipal bonds through the new programs that the Tr Read More
If the Congressional Budget Office (CBO) is right, Governor David Paterson's economic and fiscal projections for New York State are not gloomy enough. The CBO expects higher unemployment and a somewhat slower recovery than Paterson's budget has pro Read More
An in today's New York Daily News shows that what used to be considered a morally heartless and politically unworkable idea -- cutting public-sector salaries and benefits to a manageable level -- is now becoming mainstream thinking. Read More
New York City's average compensation cost per municipal employee is $106,743, and has grown 63 percent since fiscal year 2000, according to a Citizens Budget Commission (CBC) released yesterday. While base pay has grown faster than inflation d Read More
"...the Empire Center is the think tank that spent months trying to pry Covid data out of Mr. Cuomo's government, which offered a series of unbelievable excuses for its refusal to disclose...five months after it (the Empire Center) sued, Team Cuomo finally started coughing up some of the records." -Wall Street Journal, February 19, 2021
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