Skip to comments.NY is hemorrhaging cash — but de Blasio, Cuomo, unions refuse to face reality
Posted on 08/30/2020 6:03:10 PM PDT by george76
Mayor de Blasio is set to send out layoff notices Monday, but trimming the city workforce wont come close to addressing the ginormous fiscal and economic challenges ahead.
Consider the July jobless figures out last week: 15.9 percent statewide, 20 percent (one of five workers) in the city. In The Bronx, 25 percent were jobless, a rate last seen during the Great Depression.
New Yorks numbers are far worse than those for the nation, which saw only 10.2 percent of employees off the job. And dont blame it all on COVID: Last week, the state was posting the third-lowest number of new cases per capita 22 per 100,000...
Do blame Gov. Cuomo and Mayor de Blasio for their endless, bizarre, non-science-based COVID rules, particularly in the city: Indoor dining is still banned, theaters closed and even gyms cant open until Wednesday. All despite scant COVID.
rioting, homeless encampments, surge in violence and general lawlessness, and its no wonder hundreds of businesses remain closed, some never to reopen leaving thousands without work.
The economys collapse, meanwhile, deprives the city, state and MTA of enormous tax and fare revenue, popping multibillion-dollar holes in their budgets.
Yet both Cuomo and de Blasio seem to want to keep the economy down, as they fantasize about a federal bailout and, in the mayors case, borrowing billions and saddling future generations with debt. (Sadly, at least one of the leading candidates to replace him, Speaker Corey Johnson, is on board the borrow-it-all train.)
The most effective budget fix? Get the economy going. Fast. Allow indoor dining. Crack down on crime to make businesses safe. Dont raise taxes lower them.
Yes, COVID remains a threat. But its no longer New Yorks biggest worry. The economy is. Focus on that.
(Excerpt) Read more at nypost.com ...
Apparently Cuomo has gone on a hiring spree, too. For his own purposes.
Dems only do one two things
Cuomo had help, too. The srate legislature voted to give him carte blanche months ago. And the legislature hasn’t rescinded it.
Democrats- incapable of governing.
You forgot one: spend other other people’s money profligately.
Now that Biden is supposedly behind, you can see the value of NYS bond funds dropping.
Im almost getting sick of this story
but we have 60 days to go until an election and its such a perfect story I guess I could read it every day
Imagine if Donald J Trump wins New York State in the election I believe it is possible
Pelosi and Biden will ride to rescue with planeloads of Federal cash in 2024.
But the NYC Ceausescus will still have their full staff and bodyguards, like all good socialist venues.
Cuomo harrased over a 1,000 small businesses statewide in one day a few weekends ago. He put the fear of the state in them.
Dems can govern, all right.
But so can the ChiComs.
My mother is from New York. . .a WWII Veteran. Dad a WWII Vet, too. I’m glad they are not having to witness all of this.
I hope they bleed out
Trump will lose NY by more than he did in 2016. The left is raging pissed. Sad but true. I’m not worried about New York though, I’m mainly worried about PA.
They have all been promised huge bailouts - as long as they hold the line on reopening until the citizens scream in pain and kick Trump out.
Yes, this is their poorly thought through master plan. :)
Every single lie Obama made up about the “Magic Wand” and how the President can turn things around is smacking the libtard left right in the face.
They have no answer to one Donald J. Trump.
They release a pandemic on the world and it will still fail.
Russia,Russia,Russia is all horsecrap as well.
The left is all about power with idiots as their base.
“Yet both Cuomo and de Blasio seem to want to keep the economy down, as they fantasize about a federal bailout and, in the mayors case, borrowing billions and saddling future generations with debt.”
These two knuckleheads are still stuck on stupid. And apparently always will be.
Just lay more tax on the democrat chumps left behind.
Wait, doesn’t Wilhelm’s spouse have line a $2 million taxpayer budget for her personal assistants?
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