From City Journal:
Listening to some of the candidates to succeed Mayor Michael Bloomberg, you’d think that New York City’s biggest challenge was how to spend billions of dollars in spare revenue. Bill Thompson wants to put 2,000 extra cops on the street at a cost of $200 million a year. One of his rivals, Public Advocate Bill de Blasio, pledges to introduce universal pre-K in the city’s schools, a project with a $530 million annual price tag. Thompson, de Blasio, and another candidate, New York City comptroller John Liu, want to build at least 60,000 units of new subsidized housing over the next four years. The bill for that could dwarf the cost of the police and school proposals.
But no matter how big the spending dreams of the city’s would-be mayors, one of them is going to wake up to a fiscal nightmare in November. New York’s budget has grown hugely over Mayor Bloomberg’s 12 years in office, and it may finally have outstripped the Wall Street–generated tax revenues that have made such profligacy possible. The next mayor won’t have the luxury of expanding the government; instead, he’ll have to figure out how to pay for one that’s already dangerously bloated.
If Bloomberg’s goal was soaking up revenue and leaving his successor as little to spend as possible, he seems to have pulled it off. Spending from city revenues rose from $28.9 billion when Bloomberg took office to $47.5 billion in fiscal year 2012 and will be an estimated $50.2 billion in 2013—a staggering 70 percent increase per resident. Inflation rose only 29 percent over the same period. Had Bloomberg held Gotham’s budget increase to the growth rates of inflation and population, the city would currently be spending $12 billion less a year.
13 comments:
"2,000 extra cops on the street at a cost of $200 million a year"
Assuming these are new cops, how is it possible they cost $100K/year ??
That's why, as I currently feel, I'm not voting for mayor.
Some of you might scold me for giving up a sacred privilege that many have died for--but I'll be damed if my vote goes to elect any of these scoundrels who are running.
Therefore, I abstain! I choose none of the above!
That's a sacred privilege that many have died for too.
I'll cast my votes in other categories--maybe even for some of those unknown judges we usually pass by on the ballot.
I've still got my strong sense of civic duty.
Because salary does not include cost of benefits and training.
Voting is a waste of time.
Even it it only took me a total of 10 minutes to go from my door to the voting booth and back to my door I wouldn't vote. I could spend that 10 minutes doing something more productive for MY life.
Quite a good article. I believe the problem is understated, as it does not much raise the issue of back pay for expired public servant contracts, another looming cost of nearly 8 billion. According to the comptroller's office, Bloomberg will be the first mayor in NYC history to leave office with every single public servant working under an expired contract.
After all of the boondoggle projects and the antipathy toward public servants, the last line od defense for Bloomberg's 3rd term is exposed: the man was not even good at managing the city's finances.
But Bloomberg was the champion of the people who gave him an illegal third term because he was saving the city. What happened?
PS Maybe he wasn't all that right from the start!!!
Discuss---
Yes, all the candidates are absolutely deplorable, but I will be voting, if only to make sure that Quinn and Liu NEVER get elected.
I guess this is why the Vallones are trying to get as much projects in the pipeline as possible.
Yes, I get it: Vallone, needed now more than ever.
Assuming these are new cops, how is it possible they cost $100K/year ??
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Is it really shocking that a city union employee would cost that much?
Even at a reasonable salary of $45k, his penison, health, dental, overtime pay, maternity/paternity and time off packages will easily double his cost to the city.
Have you seen the John Liu for mayor posters displayed in Peter Koo's Starside" drug store window...in blazing Chinese red...on 39th Av. Flushing?
Is Koo supporting Liu?
Why not? They're both Taiwanese.
Tell me that Floo-shing isn't a Asiatic colony.
From the Gazette....
Christine Quinn, speaker of the city council and candidate for mayor, was a guest at the June meeting of the Dutch Kills Civic Association. She was introduced by an old friend and currently one of her leading campaign supporters Councilmember Jimmy Van Bramer.
at least nyc did not have 47 shootings and 9 deaths last weekend ,like Chicago.
Anonymous said...
Assuming these are new cops, how is it possible they cost $100K/year ??
--------------------
Is it really shocking that a city union employee would cost that much?
Even at a reasonable salary of $45k, his penison, health, dental, overtime pay, maternity/paternity and time off packages will easily double his cost to the city.
COPS SAVE LIVES. THEY DESERVE TO BE COMPENSATED. WHAT DON'T YOU GET ABOUT THAT?!?!
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