Mayor de Blasio has presented his executive budget for the coming fiscal year, and spending once again is higher than the year before. In six years, the mayor has never cut spending. De Blasio is lucky to have enough tax revenue from robust stock and real estate markets to fund all his spending on hiring and social services—but when the markets slow down, the city will feel the pinch.
The Facts You Need to Know
“There’s plenty of money in this city. It’s just in the wrong hands.”
The Past is Present
“The New York mayor spends so much that not even a record economic boom can cover the bills.”
And in other news...
“The MTA still faces a half-billion budget deficit next year, doubling by 2022. Though New Yorkers pay more attention to the subways than to commuter railroads, a huge part of the problem is the Long Island Rail Road, whose insane union work rules and benefits drive up costs for everyone, as well as making your commute less safe.”