Monday, March 23, 2009

Monday, March 23, 2009

A Perfect Storm Batters New York’s Economy


A Perfect Storm
Batters New York’s Economy
Drop Dead is Just the Beginning

By Gary Tilzer

The melt down on Wall Street and the national rage against AIG bonuses will result in a major cut to the City’s budget and services for generations to come. Today’s Post editorial hinted that the congressional reaction to the AIG bonuses will badly hurt New York’s budget, but the public remains clueless about the devastating effects the nation's broken economy will have on the financial capital of the world.

The City’s incumbent elected officials remain silent about the greatest economic failure in the history of New York, so that they can be reelected. These are the same elected officials who convinced the City’s newspapers that only they had the experience to save jobs, businesses and the City’s tax base. The media is allowing them to use every tax trick they know of, from raising taxes, collecting fines from cell phone usage while driving and raiding budget reserves to get past this election-year budget without the public becoming aware of the fact that the level of services to which they are accustomed will soon end. What is especially hard to take is the fact that those challenging the incumbents have also remained silent about the coming budget cutbacks, even while allowing the incumbents to fund their member-items reelection government slush funds without a peep.
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