The city's street carts are costing its coffers about $5 million a year [PDF] according to a report by the New York City Independent Budget Office. Of roughly $16 million in fines levied in 2008 and 2009, almost $14.9 million went uncollected. That's a lot of hot dogs. Meanwhile, it costs the city $7.4 Read More
After report showed Nets arena a money loser for city, Bloomberg cheers Read More
The city’s Independent Budget Office just released a dour report on New York's fiscal picture, projecting a cumulative $11.3 billion in budget gaps over the next two and a half years and $18.3 billion by mid-2012. Such figures would represent substantial shortfalls requiring major cuts and/or new revenues, given a city budget currently of Read More
Not to downplay the subsidy involved in tax-free bonds, but the press has been filled with rather misleading headlines and langauge suggesting that the team is asking for $400 million Read More
The city’s Independent Budget Office has a report out today assessing the mayor’s budget. The office, which crunches numbers without much care for politics, has a solution for getting rid of the budget gap that’s expected to spring up conveniently during the next mayoral election year: "IBO’s budget gap projection of $1.7 billion Read More
