Blog

Via the redoubtable , recently released Census data on state and local public pension systems show that, compared to national averages, New York government employees directly contribute a much smaller share of their own retirement costs. And that's Read More

The short list of "critical, non-controversial" measures Governor Paterson has sent the deadlocked state Senate for possible action tonight includes a bill authorizing Nassau County to issue bonds to finance early retirement incentives for county emp Read More

In 2008, the state Metropolitan Transportation Authority employed 539 police officers who were paid an average of $96,553, including overtime and shift differentials.    A salary database of all 78,393 MTA employees during 2008 -- searchable by na Read More

China is likely to set up a new stock market through which smaller companies can access domestic and possibly international capital, the Financial Times reports. Read More

As part of the February stimulus package, Washington offered new inducement for municipalities to issue taxable bonds. The program may have the effect of pushing up tax rates for the wealthy. Read More

That mindlessly right-wing rag, The New York Times, has that makes a simple and salient point about New York City pensions. If Albany won't cooperate on real pension reform, one good way for the mayor to keep pension costs down is to contro Read More

In April, the state-run Metropolitan Transportation Authority won Albany's approval for a new, $1.5 billion annual tax on downstate payrolls. Now, the authority, with fresh finance-committee approval this morning, is moving to float a $600 millio Read More

The .  And out of left field, there's this: Ms. Feinstein has threatened to vote against Mr. Obama’s health care bill if it draws funds from high-cost areas like California to low-cost areas of the country. Ms. Feinstein noted that Ca Read More

Congress is set to approve an add-on to the February stimulus law that will allow public-transit agencies, including New York's state-run Metropolitan Transportation Authority, to spend 10 percent of their stimulus money on operating costs, rather th Read More

While it began under bizarre circumstances, the current (apparent, informal) 31-31 deadlock over who should control the New York State Senate is not unprecedented.  Elsewhere around the country, there have been 38 other instances since 1966--includi Read More

That's the message of the Federal Reserve's monthly , released today. For those in search of a silver lining, there's this: Future indexes were generally positive and continued to rise, conveying an expectation that conditions should imp Read More

The Citizens Budget Commission, in , observes that a one-year wage freeze for all 308,000 city employees would save taxpayers a whopping $1.2 billion annually -- not just once, but forever (assuming the city wouldn't make up for it with bigger raise Read More