Gothamist: City Will Pay Down Debt With New Budget

jen

Wed, 01 Feb 2006 11:31:43 -0500

Larry, Its called economic reality. When Bloomberg came in he was left with no spare cash from the prior administration, 9/11, a recession, increased security costs, etc. He had to keep the city moving at that point and did what needed to be done. He is again showing he is a prudent mayor. It would have been great if Guiliani had left a rainy day fund. Good job, Bloomberg.

Larry Littlefield

Wed, 01 Feb 2006 10:11:42 -0500

During Bloomberg's first term, $5.5 billion was borrowed to cover operating costs, and $billions more in pension obligations were deferred. He also offset rising pension payments to those leaving with lower wages for new hires, which will reduce the quality of public services for years to come. This made him popular. Now he promises to give the kids back $2 billion, and people make him out a hero. There are no heroes in politics. Someday, future generations may conclude that those debts and pensions -- federal, state, and local -- are not theirs to pay. And I for one will not blame them.

S.D.

Wed, 01 Feb 2006 09:36:28 -0500

And think Goodness he's going after those Eeeeevil Critical Mass Commies... (ahem) I am glad he's addressing the Deficit.

MT

Wed, 01 Feb 2006 09:22:14 -0500

I, for one, think we are lucky that we have a mayor that is thinking of the city's health beyond his own term limitations. We are a stronger and better city for having elected Mike Bloomberg.