Residents of the metropolitan area pay some of the highest energy prices in the nation -- fully 50 percent above the national average for electricity and 21 percent above average for natural gas, according to the latest federal data. Unfortunately, the situation is only likely to get worse in years ahead, thanks in part to New York State energy policy that seems grounded mainly in wishful thinking. Read More
Back in 2005, a Suffolk County grand jury was convened to investigate waste, fraud and fiscal mismanagement in Suffolk's public schools. Among its key findings was "an abject lack of transparency" regarding the area where school districts spend the vast bulk of their funds: salaries and benefits. Read More
It’s no secret that skyrocketing public pension costs are putting tremendous pressure on state and local budgets in New York and across the country. But taxpayers also face another enormous liability: retiree health-care costs. Read More
By lopping two years off a tentative decade-long contract withSuffolk County's police union, County Executive Steve Bellone at least has curtailed some of the long-term financial risk the original agreement posed to taxpayers. Read More
Suffolk County's proposed contract with the county Police Benevolent Association, featuring an extraordinary 10-year term, calls to mind the New York Yankees' equally long 2007 deal with Alex Rodriguez. Read More
A task force co-chaired by former New York Lt. Gov. Richard Ravitch this week reached an "unambiguous" conclusion about the fiscal stresses on state governments: "The basic problem is not cyclical. It is structural." Read More
The closing bell on Wall Street last Friday also marked the end of the fiscal year for many public pension funds across the country, including the New York State Teachers' Retirement System (NYSTRS), which finances pensions promised to 420,000 active and retired professional educators working mainly for school districts outside New York City. Read More
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