Late yesterday, Mayor Bloomberg announced a two-year labor agreement with District Council 37, New York City’s largest public-sector union. The agreement is a missed opportunity for the city, which stands on the brink of what could be an unpreceden Read More
The some expenditure details of , northern California, pop. 117,000. Vallejo declared bankruptcy earlier this year after having unsustainably ramped up public spending in response to unsustainable tax revenues stemming from unsustainable property- Read More
Wall Street has been shaken to its foundations, state and city revenues are plummeting, the long term fiscal outlook grows grimmer every week -- and Mayor Bloomberg today announced with a municipal labor union. The 8,300 members of the Correction Read More
In a press conference Q&A today, Mayor Bloomberg said of state spending that cuts to Medicaid and education are "politically very difficult." Read More
At a Crain's breakfast this morning, City Comptroller (and 2009 mayoral candidate) Bill Thompson acknowledged a vital truth. "Budget growth has lately been out of balance with the growth of our local economy. Had we started to tie city spending to [ Read More
The Wall Street Journal considers the Bloomberg fiscal record, in an op-ed called The money quote after the jump: 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
Mayor Bloomberg said in 2003 that "if New York City is a business, it isn't Wal-Mart. It isn't trying to be the lowest-priced product in the market. It's a high-end product, maybe even a luxury product." If so, then the don't bode well for consu Read More