Commentary

Next Year’s Tax Hike by E.J. McMahon |  | New York Posts

In a single year, New York State's finances have been knocked out of kilter by a deep stock market slump, a national recession and an unprecedented terrorist attack aimed right at the heart of its tax base. The result, says Gov. Pataki, has been a loss of $7 billion in revenue. [Read_more]

Small Change by E.J. McMahon |  | New York Posts

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. [Read_more]

A Killer of a Living Wage by E.J. McMahon |  | New York Posts

As if New York's economy wasn't already stressed enough, there's a renewed push in the City Council for a local "living wage" law that could hinder the city's economic renewal while reducing job opportunities for the very people it is supposed to help. [Read_more]

It’s Still ‘Borrow and Spend’ in New York by E.J. McMahon |  | Newsday

The two New Yorks - city and state - were the nation's twin towers of public indebtedness long before the tragic events of Sept. 11 placed extraordinary new strains on their budgets. [Read_more]

Bloomberg’s Misplaced (Compassionate) Side by E.J. McMahon |  | Gotham Gazette

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." [Read_more]

Mike’s Dangerous Budget Temptation by E.J. McMahon |  | New York Posts

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? [Read_more]

Pataki’s Smaller Gov’t by E.J. McMahon |  | New York Posts

Much of Gov. Pataki's proposed state budget (his costly expansion of health care, in particular) is a far cry from the leaner, cleaner fiscal plans of his first term. But in at least one crucial respect, New York's revenue shortfall has prompted a welcome return to his budgetary roots: For the first time in seven years, the governor is launching a concerted effort to reduce the size of the state work force. [Read_more]

City Won’t Bleed From Bloomberg’s Ax by E.J. McMahon |  | Newsday

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. [Read_more]

It’s the Spending by E.J. McMahon |  | New York Posts

One of first things Mayor Bloomberg needs to do is to disabuse himself of the notion that the city's budget gap is mainly "a revenue problem," as he put it soon after the election.

Yes, revenue projections have fallen sharply in the wake of the World Trade Center attack. But the city faced a budget gap even pre-9/11 - and the fundamental reason is spending. [Read_more]

Wrong Time for a Commuter Tax by E.J. McMahon |  | New York Posts

New York City's severe post-9/11 fiscal crunch has prompted fresh calls in some quarters for reinstating the city's commuter tax, which could generate as much as $500 million, to help close a projected budget gap of $3.5 billion. [Read_more]

Mike Must Bite Bullet On Income Tax Hike by E.J. McMahon |  | New York Daily News

Just before the attack on the World Trade Center, Mike Bloomberg said he couldn't "prudently promise" not to raise city taxes, "because you can't see the future." [Read_more]

Bush’s Tax Cut: The Best Boost for N.Y. by E.J. McMahon |  | New York Posts

Some members of New York's congressional delegation seem obsessed with worry that President Bush won't deliver every penny of the $20 billion in disaster relief he promised to the city in the wake of Sept. 11. [Read_more]