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 won’t 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 York’s numbers are far worse than those for the nation, which saw only 10.2 percent of employees off the job. And don’t 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 can’t open until Wednesday. All despite scant COVID.
...
rioting, homeless encampments, surge in violence and general lawlessness, and it’s no wonder hundreds of businesses remain closed, some never to reopen — leaving thousands without work.
The economy’s 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 mayor’s 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. Don’t raise taxes — lower them.
Yes, COVID remains a threat. But it’s no longer New York’s biggest worry. The economy is. Focus on that.
(Excerpt) Read more at nypost.com ...
Most of their budget is in state and city pension obligations. My wife and I live in a Gulf Coast gated waterfront and canal front community. The people in this community are upper-middle class. Business owners, doctors, lawyers, etc...we have several neighbors from NYC whose husband and wives pensions and SS combined rival or exceed what we who work make. They brag about this fact.
If the state and city of NY/NYC continue down this path those exorbitant pensions will be in extreme jeopardy.
The Dow down 12 was a skid?
Different times.
You forgot “Spend money.”
Let it die - let it crumble -— those morons voted those idiots into office — let them reap the rewards of communism!
Sorry to say,these a-holes are not actually the most significant problem. The bigger problem are those that WILL keep them in power and those who don’t vote/don’t care.
I am thinking that all public pensions need to be rolled into the ss system. No one in the government should be making better pensions than the local citizens.
Thats why they raise taxes!!!!
NYS Police and Fire pension has over 200 billion in it. Give cannot touch it..only the comptroller. NYC pension is separate, and will crash. NYS Police and Fire is prolly #1 in country.
Give- Gov
$0.15 for the newspaper back then? Wow.
Pelosi and Biden will ride to rescue with planeloads of Federal cash in 2024
__________________
They are both somewhat older than me. Neither has a guarantee of being above ground, competent mentally or still in any level of power in 4 years.
And they know that.
They both have blood on their hands and both should have already been arrested, charged and jailed. Especially Cuomo for what he did to those poor innocent elderly folks in those nursing homes. He’s one evil SOB and a mass murderer right up there with Pol Pot, Stalin, etc.
Citizens, Put New York State in play. What have you got to lose? Higher taxes, Crime, Corruption in Albany, State Over regulation, Closed businesses, Rioting and looting, Etc.
Vote Red for once. Remove Every DemoRAT.
My dad was a WW2 veteran who was born and raised in NYC. He told me about watching the Empire State Building going up and going to Yankee games. He also witnessed the crash of the Hindenburg.
He said that New York was a great place to grow up.
Wouldn't those be private pensions?
Granted that some ex gov't types have pretty juicy pensions too.
The TURDS are circling the bowl and they think they're enjoying a swim at the Country Club!
Some souls are just DESTINED to learn the HARD WAY.
I trust all the democrats in nyc who voted in their current mayor are financially suffering.
They all deserve what they get from the leftist, antifa supporting government they elected.
JoMa
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