As is my custom I won’t comment on the results of the New York elections. Whom New York voters choose to represent them is none of my business.
I will comment on one thing. If New York City’s fiscal policies create a crisis, don’t ask taxpayers in the other forty-nine states to rescue it. New York voters are entitled to make their own choices but they’re also responsible for the consequences.
The same applies to New York State. Don’t bail it out, either. Money is fungible. A state bailout can become a city bailout by another name.
Wiser words were never spoken. A variant of voters deserve to get it good and hard. Its NY Democrat voters, not state or national voters.
I am not a Democrat, but I simply cannot come to grips with what is happening to the party. Traditional democrats are good people. Dave is a good person. My wife is a good person. Steve is a good person. And so on. But the progressive and now communist wing taking over the party is not. They are dangerous people. If I was a Democrat I would be in despair. My party is in trouble. Schumer and Jeffries appear to just masturbate on the sidelines. The country needs reasonable counterbalance.
I say this as I am seeing my daughter off to NYC and one of the best agencies on the planet. A grad degree from the University of Chicago of advertising and brand management – The Brand Center. Best school in the business. But………… That industry resides in NYC, LA and Chicago. Ugh.
So with trepidation. She walks into the Mamdani mess. How much damage will he do in her tenure?
I am OK with this with the caveat that the city and states BOP (balance of payments)with the federal govt should be at least neutral. It has long been quite negative. (I think every state was positive with the covid money but is back to negative.
Steve
But bank bailouts be beholden.