WSJ:
"Mr. de Blasio is the first New York mayor in two decades to hail from the left, which makes him the face of a new progressivism in America," author Fred Siegel and financial analyst Nicole Gelinas wrote.
But while the new mayor calls the $73.9 billion budget "historic" and "transcendent," it shows the city is willing to spend beyond its means to keep labor unions happy for the first time since it nearly went bankrupt in the 1970s, Siegel and Gelinas write. For example, the new teachers' contract includes $4.3 billion in pay raises that are retroactive to 2009, according to the commentary.
De Blasio used his budget announcement to push his "progressive" agenda with a budget that adds money to enforce mandated sick leave, public housing, and education. But the most controversial portion includes the pay raises for the teachers, and also pay hikes for city employees, at an added cost of $9 billion over four years.
Under former Mayor Michael Bloomberg, the United Federation of Teachers saw their pay go up 48 percent his first eight years. But after the Lehman Brothers collapse of 2008, Bloomberg made clear teachers could not receive 4 percent raises in 2009 and 2010."
"Mr. de Blasio is the first New York mayor in two decades to hail from the left, which makes him the face of a new progressivism in America," author Fred Siegel and financial analyst Nicole Gelinas wrote.
But while the new mayor calls the $73.9 billion budget "historic" and "transcendent," it shows the city is willing to spend beyond its means to keep labor unions happy for the first time since it nearly went bankrupt in the 1970s, Siegel and Gelinas write. For example, the new teachers' contract includes $4.3 billion in pay raises that are retroactive to 2009, according to the commentary.
De Blasio used his budget announcement to push his "progressive" agenda with a budget that adds money to enforce mandated sick leave, public housing, and education. But the most controversial portion includes the pay raises for the teachers, and also pay hikes for city employees, at an added cost of $9 billion over four years.
Under former Mayor Michael Bloomberg, the United Federation of Teachers saw their pay go up 48 percent his first eight years. But after the Lehman Brothers collapse of 2008, Bloomberg made clear teachers could not receive 4 percent raises in 2009 and 2010."
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