Mayor Bloomberg to NYC: Cut $2 Billion in 18 Months

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Year Four of the Great Recession has taken its toll on budgets across the country: it's hard to not come across some sort of public service being slashed in the news almost every day. The reactionary politics of cut-and-save economics has hit New York hard since Downtown self-imploded in 2008 as Bloomberg's City Hall rushes to keep the City's budget somewhat intact by eliminating millions from education, healthcare, public housing and the rest of the starving bunch. Consequentially, the City's 10% unemployment rate is a testament to the fact that times are tough for millions of New Yorkers.

This notion continued yesterday when the Hozziner announced he expects to see nearly $2 billion cut from his final budget the next fiscal year. That amount comes out to about 3% of the total budget as a whole, meaning that these cuts are going to be deep and their impact on New Yorkers' lives even deeper. And the targets of this setback ring out this message even louder: in a rare occasion, the NYPD will be on the chopping block.

In accordance with the City Hall budget memo, here's what we should expect to see with a projected deficit of $2.5 billion in the next 18 months:

All together, the $2 billion in cuts translates into 5.4% for each department this year and 8% next year. What does that mean in specifics? These are a few examples of the new cost of existence: 

Police, Fire, Sanitation and Correction: 2.7% this year (2013); 4% next year (2014). 

Education: 1.4% this year; 4% next year.

In the first year, along with the other across-the-board cuts for all of the departments, this yields about $750 million in savings - a far-cry from the $2.5 billion needed to plug up that deficit. But, with the additional cuts the following year, we have another $1.75 billion to work with. I'm not a mathematician but, together, that gives us the $2 billion that Bloomberg is demanding we save.

And, with that money in hand, the deficit will be slightly adjusted but one must keep in mind that Bloomberg will be out at the end of 2013. His successor, whomever that may be, will inherit a $3 billion IOU and an extremely shitty situation. Good luck with that.

During a period in City history when crime rates are bumping up a bit and our value of education is increasingly subpar, these cuts could not come at a worse time. But that is one of the biggest ironies of the Great Recession: in terms of American history, the hope for a vibrant surplus disappeared when we needed it the most. The consequences of these cuts have yet to be seen, although it can be guaranteed that that will be a whole other story.

[jsurico15@gmail.com/@JSuricz]


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1 comments
Dmorris
Dmorris

Someone please start looking at the School Construction Authority for corruption. Bloomberg has been enriching the Real Estate industry with Department of Education contracts from the very beginning of his administration. The dollars are in the billions, a $250 million dollar school in Queens. Schools located in Office Towers and paying rent to his Real Estate friends, the people who run New York City.

I think the corruption also spreads to other city agencies. Check out the Construction budget for the Fire Department as well. There are some interesting accounting tricks that Bloomberg has used since the very beginning of his administration to hide the true value of contracts doled out to construction companies that are owned by his friends, the Real Estate Glitterati.

Check out the money the city has spent to support the Gentrification of sections of Brooklyn where his Real Estate friends are building $3,000 a month apartments and pushing the low income residents out of communities like Greenpoint, Bushwick and Williamsburg.

I know he is in the Media business himself as the owner of Bloomberg but reporters should not be afraid of him. Oh, whatever happened to the reporter who asked him about the third term lie and Bloomberg told him he was "Disgusting."

 

"The truth will set you free."

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