State comptroller Thomas DiNapoli, in a quest to become the Ghost of New York City Yet to Come, released his on the city's budget yesterday. The document illustrates starkly what is going to happen in New York if we do not face the inevitable. We'v Read More
Smart private-sector companies are aggressively slashing white-collar pay and benefits to get costs under control amid slumping revenues. New York's public sector, by contrast, has no such clear, assertive plan, even though the state* and the MTA to Read More
New York lost another 126,209 residents to other states during the 12 months ending July 1, according to newly released . The Empire State's loss to "net domestic migration" has reached 1,575,864 people since 2000 -- the most of any state's, toppin Read More
A parade of public officials, plus one alleged, attempted shoe-thrower, went before the state-controlled Metropolitan Transportation Authority today largely to berate the MTA for passing a budget that includes significant service cuts to subways an Read More
States and cities hoping to fill in budget gaps with cash-outs of future toll-road revenues and the like by handing revenue-generating assets over to private operators for up-front money may be sobered up by a report out yesterday from Australi Read More
Gov. Paterson has released the state budget on a history-making day. For the first time ever, the Federal Reserve has cut the interest rate at which it lends to banks to as (and as high as a quarter of a percentage point). This action puts Paterson's Read More
Governor Paterson's proposed on sugared soft drinks has already captured most of the media attention among the $4 billion in new taxes and fees in Governor Paterson's budget. But by far the largest single element in Paterson's revenue package is a Read More
An anonymous Paterson Administration official is in today's Albany Times Union as predicting that the governor's budget proposal would include an “aggressive set of cuts” that will leave “blood in the streets.” Maybe he meant ke Read More
An anonymous Paterson Administration official is in today's Albany Times Union as predicting that the governor's budget proposal would include an “aggressive set of cuts” that will leave “blood in the streets.” Maybe he meant ke Read More
City comptroller William Thompson released his regular "" report today. It's not necessary to go into the gory details, since it's past time for everyone simply to stipulate that things are ugly so that we can get on with life. The good news, though, Read More
Supporters of an income tax increase in New York State were, until recently, pushing what they called a "millionaire tax." But now that the number of millionaires is rapidly shrinking, Albany's most vocal tax-hike proponents have lowered their taxa Read More
Investment manager Bernard Madoff has allegedly admitted to what could be the biggest single criminal financial fraud ever, with up to $50 billion in losses. What does it mean for New York? Read More