Seventeen years ago, the state Court of Appeals ruled that New York State has a constitutional obligation to ensure that public schools provide all students with a "sound basic education." Read More
Category: Commentary
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
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
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
The Obama administration quietly issued a new waiver last month that allows states to change the rules of how success is measured in welfare reform. 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
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
Over the past 37 years, starting with the near-bankruptcy of the Big Apple, serious fiscal crises in New York local governments have unfolded at a rate of one or two per decade. Read More