"Poor management" at the Port Authority has resulted in billions of dollars in cost overruns at the World Trade Center site, according to an audit requested by Governors Cuomo and Christie, who control the Authority. The report, released yesterday, found the cost of rebuilding at the 16 acre site has risen to $14.8 billion, up from an $11 billion forecast in 2008. Auditors blasted the agency as "dysfunctional," and recommended a "top-to-bottom overhaul" if it is to stay solvent. more ›

Fresh from his gambling-happy State of the State address Governor Cuomo today introduced his $132.5 billion 2012 budget and while it is less agressive than last year's slice and dice budget it still manages to be tough on unions. Teacher evaluations sure look like the future in New York State! more ›

More belt-tightening from City Hall: Mayor Bloomberg released a 72-page report detailing his office's plans to stem next year's projected budget gap of $4.6 billion. Though some fees will be considerably higher, according to the Post, the measures avoid the third-rails of teachers layoffs and cutting back the NYPD's numbers. more ›

Cooper Union, the school that asks questions like "A clock or device which redefines the concept of time" on its application and has been entirely tuition-free since 1902, may be forced to start charging students to combat the harsh economy. more ›

Ron Paul, fierce defender of liberty (there are exceptions!) is having a tough time distinguishing himself from the rest of the GOP field before tonight's debate in Las Vegas. So yesterday, Paul released his "bold, ambitious, Plan To Restore America" [pdf] that would eliminate $1 trillion in government spending his first year in office. Man, weren't things great before the Department of Education, the Department of Energy in the late 70s? more ›

Governor Cuomo and other state politicians have received threatening emails for refusing to renew a tax on millionaires that is set to expire at the end of the year. The tax is actually levied against New Yorkers with income over $200,000, but Assembly Democrats want to extend it for those literally making more than million dollars a year. It's estimated that extending the tax on the richest 3% of New Yorkers for another year could generate at least $1 billion in desperately-needed revenue. But isn't it better to drown the government and let that billion trickle down on its own, as many millionaires argue? No, say people sending threatening emails! more ›

For the seventh time in four years Mayor Bloomberg has announced from upon high that city agencies must trim the fat off their books. Just like he did earlier this year, Bloomberg has declared that almost all city agencies need to cut off two percent of their budgets for this fiscal year, which ends June 30, 2012. Crazier, he expects them to trim an additional six percent next year. That should save about $500 million this year and $1.5 billion next year. So maybe now is not the time to quit your job to follow your dream of being a low-level city employee? more ›

Commuters weren't happy about the Port Authority's obscene plan to raise tolls 50%, but now Governors Cuomo and Christie—who sit on the PA's board—are crying foul, saying they weren't told of the move despite reports that they had "confidentially signaled their grudging support." A source tells the Post that Cuomo was "shocked and less than pleased" about the proposal, which would hike E-ZPass holders' tolls up to $12 from $8 and cash tolls to $15 from $8. PATH commuters would pay an extra $1 a trip. But how much of this outrage is political theater? more ›

After the Senate passed the debt-ceiling legislation earlier today, President Obama signed it into law, thus averting the possibility of a global meltdown precipitated by 435 politicians in Washington, D.C. Hooray! Surely the markets are up. What? Oh well, at least the President can put this whole experience behind him and focus on his on mortality during his 50th birthday extravaganza/fundraiser on Wednesday. more ›

As expected, Majority Leader Harry Reid failed to keep his debt-ceiling bill alive in the Senate earlier today, but now the Times reports that Reid has approved an agreement signaled earlier today by Minority Leader Mitch McConnell that would cut the deficit by more than $2.5 trillion and raise the debt-ceiling limit through 2013, a provision that prevents this entire battle from being re-fought during the election season. If the Democrats approve, we should see a vote scheduled for the Senate this evening. more ›

In less than a week, the United States of America will default on its monetary obligations unless the debt ceiling is raised, ether through an act of Congress or President Obama using The Force the 14th Amendment to do so. But John Boehner is probably wondering if all that 2010 Tea Party pandering was worth it. In a closed-door meeting with his caucus this morning, Boehner ordered his far-right colleagues who have resisted any increase in the debt ceiling to "get your ass in line" behind his proposed bill, which the CBO embarrassingly noted would actually save $150 billion less than the Speaker promised. Boehner needs the support of his colleagues so badly that in a GOP meeting yesterday, a clip from 2010's The Town was shown to rally the troops. That's right: the fate of the global economy now rests on a Ben Affleck performance. more ›

Last week after the surprise resignation of MTA chairman Jay Walder, an MTA insider told us that among the many reasons he was leaving was the bleak promise of either more fare hikes or service cuts in the next two years. And today, the MTA announced their five-year financial plan, which will include two fare hikes in 2013 and 2015, avoid service cuts, and bring "fragile stability" to the MTA, according to Walder. more ›

If you have a fling with Chris Christie, you're gonna get burned. Oh sure, first it's all romantic helicopter rides. Then as soon as he gets the property tax cap and pension and health care cuts, he leaves you in agony, waiting by the phone. Such is the case of heartbroken New Jersey Senate President Stephen Sweeney, who told the Star-Ledger that last week, "I sat in my office all day like a nitwit, figuring we were going to talk" about budget negotiations. No call. Christie just axed tax credits and health care for the working poor and other Democratic priorities. Now Sweeney's taking off his promise ring, and sounds disenchanted by the big guy: "He's just a rotten bastard to do what he did…He's a rotten prick." more ›

Governor Cuomo and Mayor Bloomberg's bromance has gotten off to a rocky start. Cuomo wowed Albany by passing a money-saving budget on time, Bloomberg deemed the resulting cuts to New York City "an outrage." The two have vehemently disagreed in the past on the Last In First Out policy for the state's teachers, which the mayor said kicks "some of our best teachers to the curb," while the governor compared Bloomberg's favored bill to the one limiting collective bargaining efforts in Wisconsin. Now, sources tell the Post that the mayor is cutting Cuomo out of the planning efforts for the 10th anniversary of 9/11 in part because the governor removed Christopher Ward—"a Bloomberg guy"—from the head post at the Port Authority. more ›

What if the real reason your kid hasn't had any art classes, or if his classroom has 40 people jammed into it, is just a big misunderstanding? City government just made an oopsie with $200 million that it received from the state, specifically for the purpose of backtracking on some dire education cuts, using it to replace part of its contribution to education funding instead of improving the classroom situation. Assemblywoman Cathleen Nolan is now trying to rectify the situation... with a stern letter to Mayor Bloomberg. more ›

Barely a year after opening to glowing reviews (it's all in the restrooms) the city has cut $11 million in funding to our favorite place to eat Grimaldi's. If pols don't agree on whether or not to build luxury condos to finance its annual $16 million maintenance fees, the remainder of the $44 million that the city has promised may be in jeopardy as well! Brooklyn Heights state senator Daniel Squadron tells the Daily News that, "This funding cut and the results of this report call the city's commitment to completing the park into question." more ›

From Burma-Shave to billboards in Times Square to the guys who tattoo radio station logos on their foreheads, man has a keen sense that the best and noblest way to make money is in advertising. So now that the New Jersey Transit trust fund is flat broke (with $34 billion needed in improvements over the next decade), the best thing for the state to do to raise revenue is to raise taxes slap a billboard on everything they own! All aboard the Gatorade Express to Preparation H Station! more ›

While Barack Obama and Joe Biden release their complete tax returns to the public once a year, Mayor Bloomberg makes journalists cram into a room and view his redacted returns for less than three hours—no photocopies. The Mayor says that it's because he fears "disclosing sensitive corporate information to his competitors," but it also probably has something to do with all the fun income streams and expenditures the Times found yesterday, including his $98K in equestrian winnings, and his $44K cabinets that were later donated to charity. more ›

Previously we told you that it was time to make a career move to the MTA. Sure, the hours are long, but you could while them away with dreaming of your massive pension. Forget that: public education, now that's where the money is. Bloomberg News reports that Long Island school superintendent James Hunderfund is entitled to a net salary of around $540,000 from the combination of his $316K pension he earned at a previous job along with his current $225K salary from the Malverne school district. more ›

With the FDNY's much-maligned crash tax plan nixed, the department has millions of dollars to cut out of its budget which and unfortunately for the cash-strapped department that means once again closing firehouses. Though the mayor and the FDNY had been working on a list of which houses are on the block, they had been refusing to share it until the City Council forced their hand by threatening to subpoena the list. If you live in Brooklyn, you may want to double check your smoke alarms and fire extinguishers—eight of the 20 companies on the list are located in Kings County, four are in Queens, three are in the Bronx, another three are in Manhattan and two are on Staten Island. more ›

Though we looked up from the rabble to jeer at our seersuckered overlords last week, perhaps we should have averted our gaze downward into the subway. Today's Daily News profiles another infamous "pension padder" who made an extra $175,000 in overtime by cashing in sick and vacation days. more ›

We know that New Yorkers are a bunch of slobbering salt monsters who can strip the crystals off a Super Pretzel faster than you can say "hypertension." But don't prisoners deserve a modicum of salt to take the pain away of you know, being in prison? Mayor Bloomberg apparently disagrees: buried in his much decried budget is a provision that would slash $350K from the Corrections Department's food budget, the Daily News reports. Can't we give the salt demonizing a rest since it doesn't even give you heart disease? more ›

Next week, Mayor Bloomberg will have to present the final numbers of his austere $65.6 billion budget that features thousands of layoffs, and he told reporters it will not be pretty. But Bloomberg made the point, "New York City has to balance its budget by law. We will go ahead and do that, you can rest assured. And it will be very painful because we have a lot less money, which means a lot fewer people... What we have to do is decide will it be fewer cops, fewer firefighters, fewer teachers, fewer this, fewer that." more ›

Finally, after leaving us on tenterhooks with months (years!) of speculation, former governor George Pataki has announced that he's not entering the 2012 race. He told Sean Hannity on Fox News last night, "I'm not running for president" (but he also said, "never say never"). Instead, Pataki said he's starting an advocacy group to reduce the deficit, "I think this is an extraordinarily important issue. We are going to focus on this." more ›

Don't get too used to paying $104 for your 30-day unlimited MetroCard. The MTA is already aiming to raise fares again in 2013 (possibly dwarfing the last hike) and Streetsblog points out that a report from the State's Comptrollers office [PDF] paints a scary picture in which things could get much worse. more ›

With no budget deal in sight, the Obama administration warned today that a federal government shutdown would lead to layoffs of as many as 800,000 federal employees "and hobble agencies that offer help to small businesses and homeowners," the Times reports. Although "top lawmakers" say there has been progress in confidential budget talks today, the speaker of the House, John Boehner, didn't sound constructive. "I like the president personally. We get along well. But the president isn’t leading," Boehner told reporters. “He didn’t lead on last year’s budget, and he clearly isn’t leading on this year’s budget." Well, he can't lead if you don't follow, Boehner. Meanwhile, New Yorkers want to know how this is going to inconvenience us. more ›

House Speaker John Boehner emerged from a closed-door budget meeting with President Obama yesterday and announced that no deal had been reached, increasingly the likelihood of a government shutdown. House Republicans say they are open to approving another one-week stop-gap budget extension, but Eric Cantor, the House majority leader, also told the Times, "The White House has increased the likelihood of a shut down." The impasse comes as the House Budget Committee chairman, Republican Paul Ryan, released the proposed Republican budget, which cuddly conservative columnist David Brooks hails as "courageous" and "serious." So you know it must be really messed up. more ›