I was upset that a summary table that showed how much NYC spends on the largest government functions, including debt service and pensions, and how much of this is funded by locally-raised money, was removed from NYC’s “Budget Summary” documents.
But there is good news. The table, albeit without a column for spending by agency on judgments and claims and without a comparison with prior years, is back in a more detailed document that came out later, the latest “Message of the Mayor,” page 81.
And that allowed me to easily update the tables and charts I produced last year comparing FY2014, Mayor Bloomberg’s last budget year, with FY 2017, as proposed. A spreadsheet with the tables and charts for FY 2007, FY 2014 and FY 2018 as proposed is attached below.
But in the rest of this post, I’d like to review the “Unsaid” about Detroit’s bankruptcy and New York City’s recovery from the 1970s, and their relevance to NYC today. Because in my view, despite all that was written and said about those two past events, few have identified the most important reasons why they actually happened.