The chart below depicts the 25-year trend in what I call the "Tax Stability Quotient" -- the share of all New York City tax receipts composed of real property, sales, utility and commercial rent taxes, which tend to be the city's most stable revenue Read More
The Times has a piece today exploring whether an increase in crime will inevitably follow an economic contraction in New York. The is worth a read, but the best comments are from Ray Kelly, the NYPD's current commissioner, and Bill Bratton, Read More
One of the most famous episodes of the old Star Trek TV series was in which the crew of the Enterprise found themselves in an alternative universe populated by their nasty lookalikes. The old DC comic books featured "Bizarro" characters w Read More
In an op-ed called "," the Daily News's Errol Louis says that the idea that "federal, state, and local governments all need to cut spending" is a "dangerous myth." Louis quotes economist James Galbraith in saying that state spending cuts, sp Read More
This chart from the state comptroller's newly released answers the question in a nutshell: Read More
Public school finance will be one of the most hotly contested battlegrounds in New York's coming state budget war. From last June's of the Governor's (aka the Suozzi Commission), here is a reminder of one key factor driving up local school costs: Read More
In today's Times on the reaction of municipal labor unions to possible budget-cutting strategies, UFT President Randi Weingarten argues against any reform of generous pension benefits for municipal employees: “Here we have a s Read More
As a postscript to Nicole’s most recent post, which focused on New York City, it should be noted that New York’s state government doesn't immediately face a California-style cash crunch, either. The state stopped issuing short-term notes Read More