Posted on 11/17/2002 3:14:25 AM PST by sarcasm
Edited on 05/26/2004 5:10:25 PM PDT by Jim Robinson. [history]
The city is broke. The corporations are broke. And increasingly, the rest of us are broke, as well.
Personal bankruptcies are projected to hit record highs in 2002 - both nationwide and in New York.
The U.S. Bankruptcy Court for the Southern District of New York, where most New York City residents file, expects to receive more than 15,000 bankruptcy filings this year, a 19 percent jump compared with two years ago.
(Excerpt) Read more at nypost.com ...
If NYC taxes and costs related to business operations would decline, the situation would become tolerable. Overall govt. costs at all levels are way to high. Significant reductions in state budgets would put more money into consumer hands, for openers.
NYC Mayor Bloomberg is going the wrong direction with his "raise taxes" approach. Lower government operating costs (cut the bureaucracy) is what he's going to have to do or the city will see businesses move away, as happened some years ago.
Everything's rosy. /sarcasm
Too many people have been living far beyond their means for too long. Don't blame the corporations. You have had the looney left proclaiming that income redistribution is fair and everyone should live as well as the rich. When those with bigger ears than brains hear that, they take the easy credit and live well, never considering that the bill will come due.
Right on. I recently was going to refinance and take out a gob of cash, raising my house payment by 30%. I finally came down a notch and realized that I didn't want to spend 20 years paying for something I'll be using up in 3-5 years.
It would be helpful to know something about your perspective on this, but you have no information on your profile.
Having lived in NYC for three years I do have some direct experience with what the city does and doesn't do. The local government has more licenses and laws than are needed, with bureaucrats by the dozen to manage the resulting regulations. These government organizations are way overstaffed. Substantial reductions in government workforce would be a good place to begin saving dollars.
Deal with the "homeless" and poverty populations through more than throwing money and bureaucrats at "managing" these populations. Real training for private-sector jobs is the answer, but that's not what's being done.
Privatize as much as possible, including staffing in city government programs.
I would like to see the city budget, go through it. I'm confident that opportunities for cost reductions would jump right off the pages.
WRONG! We found other cheaper ways to buy cigarettes, a legal commodity, without paying into the state coffers and carrying the weight of the whole state budget on our shoulders. Let the lawmakers pull this money out of someplace else. /sarcasm off.
How 'bout for starters no new SUVs or new vehicles for 2 or 3 years.....how 'bout subway passes instead of vehicles; how 'bout 20% RIF across the board; how 'bout putting all gov't service out to bid?
After a few years of this how about zero-based budgeting?
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