Wednesday, March 17, 2010

So the City does have money!

From Crain's:

The recession in New York is essentially over, and despite continued double-digit unemployment, it will be the mildest downturn in the city since the Second World War.

That's the conclusion of the latest economic forecast from the city's Independent Budget Office, which predicts that job losses will peter out by the end of the month.

IBO Director Ronnie Lowenstein last Thursday presented her office's revised forecast to the City Council Finance Committee. She expressed surprise at the city's relative financial health, reporting it would end the current fiscal year with a surplus of just under $3 billion.


NYC Educator said...

It's nice to know that double-digit unemployment does not reflect an economic downturn.

Missing Foundation said...

This reflects the dirty fact of life that service is cut for everyone except the rich folks in Manhattan.

Walk around 'the rock.' Down turn? What downturn?

You do not see the shit you see out in the outer B's. The island (south of Harlem) looks great!

New buildings going up left and right, the people look well dressed and happy, restaurants are full, a buzz is in the air.

These are the Bloomberg supporters who turned their back on you when the mayor and city council took away your voice, your communties, and your taxes.

Anonymous said...

Brother, can you spare a dime?

Anonymous said...

Well of course the city has money, honey. There is money for developers, and slush fund money, etc. But its all being used for all the wrong things. Priorities are not in order.

If our elected officials look hard enough they can find money for anything they want. Remember a few years ago, out of nowhere the MTA found that "surplus" money but still they cried poverty.

Anonymous said...

Lie, Lie, Lie, Deliah,
Why, Why, Why Deliah.

This tune brought to you by the City of New York. Stay away from buildings with ledges and open windows--not that there's any danger of a ruined investor jumping out.

Nomen Nescio said...

Then why are agencies like DEP laying off like crazy?
53 workers today alone in wastewater. Many more coming throughout.

Anonymous said...

If the city has a surplus, why are they raising our taxes all the time?

Anonymous said...


Adolf Bloomhitler said...

Mine. All MINE!!!!

Anonymous said...

How many hospitals have closed in this city in the past 5 years?

How many new ones have opened in that period, while the population increased by several hundred thousand?

If Bloomberg restricts access to healthcare to all but the rich, then he can run a budget surplus.

What a smart guy.

Anonymous said...

Hurry up -- Salary and benefits increases for all public employees all around.

Anonymous said...

Reminder: John Liu is the Comptroller!