Thursday, July 24, 2008

Bloated Budget Bilge

In a NY Post editorial today, the paper underscores the extent to which our elected officials don't quite get the budget calculus: "The Financial Control Board this week pegged the city's gap at $20 billion through 2012. Statewide, reality is already biting: Comptroller Tom DiNapoli says that first-quarter business-tax revenues were nearly half a billion dollars short. Bloomberg and Paterson seem to understand the predicament - but then they go make matters worse."

How so? By adding payroll, as Paterson has done, and by creating new language regulations (and let's not forget the "Healthy Bucks" giveaway) as Mayor Mike has done. And then the mayor chides the MTA on bloat! "Bloomberg, predictably, blasted the MTA's proposed fare hike: "Anybody that tells me they've got a $10 billion budget, and they can't find ways to cut 5 percent, that's just poor management." Maybe MTA bosses are taking their cue from . . . him.
Bottom line? The Budget-Blues Brothers are paying no real heed to their bottom line."

As we've been saying for a long time, the mayor has an extremely expansive notion of what government can and should do; and now the chickens are coming home to roost. With no real action on government reform directed at reducing its size and scope during Bloomberg's six and 1/2 years in office, there will be a bill to pay pretty soon-and tax payers and businesses better be prepared for the storm..