Employment and wage trends in New York State since the beginning of this decade could be described as a tale of two sectors: public and private.
The New York Stock Exchange's proposed merger with a Paris-based company operating four electronic stock exchanges in Europe could be a sign of trouble for the economic engine of the Empire State.
New York State and New York City were pushing the envelope on "public use" condemnations of private property to benefit other private owners even before the practice was ratified in a controversial U.S. Supreme Court decision last week.
The Kelo ruling provides more than enough justification for a careful reconsideration of eminent domain and its uses by the UDC and other government agencies in New York. Will any of our elected officials take the hint? Stay tuned.
Skyrocketing state and local employee pension costs have been a major factor in the fiscal crisis affecting every level of government in New York State. Taxpayer financed public pension contributions have soared by more than $2.3 billion dollars over the past two years—and are projected to rise even more in 2004. In New York City alone, the rise in pension costs will consume every dollar raised by Mayor Bloomberg’s record property tax increase.
New York’s economy stands to reap enormous benefits from President Bush's proposed tax stimulus plan.