No Fiscal Hawk
Mayor de Blasio recently spoke of himself as a hardliner when it comes to fiscal responsibility, a “hard a** about our surpluses and protecting our reserves.” He needs to be, he says, because Washington, Albany, and his predecessors in the mayor’s office have lacked commitment to funding city infrastructure. Rhetoric aside, de Blasio’s approach to budgeting and savings has been far from hawkish.
The Facts You Need to Know
Reserve: New York City’s preliminary budget for the next fiscal year calls for putting $1 billion annually into reserves, which sounds like a lot, but which would be spent in months if there were a recession. Read more.
Raise: De Blasio gave city employees retroactive pay raises, and scheduled them to be paid many years after the work was originally performed–putting a strain on the budget well into the future. Read more.
Health: The mayor falsely claims that health care costs are going down, when in fact they will rise more than 20% over the next three years. Read more.
“To make his budgets add up, de Blasio has pushed much of the cost for past spending into the future.”
The Past is Present
“The city’s private wealth pays for its vast public assets — which benefit everyone, especially the poor.”
And in other news...
“The Commission of Correction found that despite increased scrutiny from state and federal investigators in recent years, violent incidents have risen from 2016 to 2017, according to a report it released on Wednesday.”