New York City began reopening last week, already itching to reach the next stage; Eventually the local economy has a chance to start growing back. The grim reality, however, is that Gotham faces long-term economic challenges – yet Mayor Bill de Blasio refuses to act accordingly.
Yes, Hyzona acknowledges that the city is in a financial crisis with epidemics and lockdowns, spending $ 9 billion over two years. Yet his “solution” is a bit more than the federal bailout from Albany and the demand for more authority. He will not even acknowledge the long-term crisis.
Even before rioting and looting took place here, the city faced a dire future: its whole model for prosperity is questionable, as Nicole Gelinas warned in the post. The risk of the virus remains and recent experience shows the possibilities, many passengers can continue to work from home, outside the city. Employers can also move away – especially after the recent looting of memories by the political class focusing on limiting the NYPD.
This will only exacerbate the pre-viral problem of office space and hurt businesses such as restaurants and retailers that rely on them.
Statewide, it could be even worse: last month, Empire Center revenue expert E.J. McMahon Md New York “faced an economic catastrophe of historic proportions.”
Even so – and with just a few weeks to go before the July 1 budget is set, de Blasio says little (and less) has been done to address the nightmares of an economy sinking.
Although he now predicts a 9 billion gap, his April plan will increase city-funded spending. And with private sector workers suffering pay cuts and job losses, De Blasio plans to increase the city’s major numbers by 2024, even after inflating 10 percent (30,000 jobs) since taking office.
Also, he wants Albany to let him take $ 7.4 billion to cut costs – the kind of thing that led Gotham to bankruptcy around the ’70s. Revenue surveillance shocks: city “doesn’t take adequate steps to reduce spending, which is necessary before taking action” Andrew Rain, chairman of the Citizens’ Budget Commission, has been warned. The group has just released several Good idea To stop bleeding:
The retrenchment of the municipality’s staff to 9,000 positions, keeping it even larger than before the 2008 financial collapse and saving about প্রায় 1 billion a year.
Employees ask employees to chip more to simplify their healthcare and work rules.
Use more general reserve funds to close out the year intervals.
De Blasio’s goal may be to bow down until he resigns next year, but if he leaves the city ahead of a royal day, he can be sure that history will not take kindly to it.