Those of us in New York City who have been celebrating the Obama victory have little time to enjoy the moment. A New York State budget deficit of 12.5 billions is forecast for the near future. At this moment our present governor David Patterson has expressed no desire to increase taxes on the wealthy instead he has emphasized budget cuts (which will affect basic services) and layoffs.
The City also faces a budget deficit along with an incumbent Mayor whose solutions to this crisis include higher taxes (for all New Yorkers), budget cuts (affecting housing, education, senior citizens) and even plans to charge 6 cents for every plastic bag we receive from retail stores. The mayor, who recently used his political muscle to “convince” the City Council to extend term limits, believes he is the most qualified to lead New York City through this crisis. He is so convinced that he is the most qualified that he has announced that he is ready to spend 80 to 100 million dollars to get reelected. Continue reading →