There are a whole lot of ways to close a $4.9 billion gap in a $40 billion budget, as Mayor Bloomberg demonstrated once again this week. He wants to balance the budget without imposing economically devastating tax hikes.
One welcome change in Mayor Michael Bloomberg's preliminary budget is a more accurate count of New York City's enormous municipal workforce. It turns out there are even more city employees than anyone previously thought -- ironically underscoring just how little Mayor Bloomberg is initially proposing in the way of agency workforce reductions, despite all the talk of budgetary "pain."
Will city leaders use 9/11 as an excuse to saddle future taxpayers with debt to close part of next year's $4 billion budget gap?
Overshadowed by his predecessor for most of an all-too-brief transition period, Michael Bloomberg has emerged into the mayoral spotlight with an impressive early show of fiscal leadership.
In the wake of the attack on the World Trade Center, New York City faces a budget gap of at least $3.6 billion. As a result, Michael Bloomberg will confront the city’s most serious financial crisis in a decade.
Will the next mayor restore New York's battered, post-9/11 economy? The candidates' recovery plans don't inspire much confidence.
Most of Mark Green's answers come out of the 1930s. And while Michael Bloomberg seems to have learned a few lessons from the '90s, he's still reluctant to embrace the most growth-oriented elements of the Giuliani philosophy.
Giuliani took office declaring that city government was too big and taxes were too high. His first two budgets cut the headcount of city employees and reduced spending, setting the stage for both tax cuts and a series of surpluses.
It’s official: According to Mayor Giuliani's latest fiscal plan, the next mayor will face a budget gap of $2.7 billion - which, if it actually materializes, will be $400 million more than the one Giuliani inherited from David Dinkins.