New York City is now $9 billion in the red thanks to the coronavirus shutdown, Mayor Bill de Blasio said Wednesday as he once again begged for a federal bailout or help from the state.
“There is literally no way we can solve this problem without federal help or without having to make very, very painful choices that will affect the quality of life in this city,” the mayor said at his daily coronavirus press briefing.
He renewed his call on Albany to let the city borrow a maximum of $7 billion for up to 30 years though acknowledged the agreement — if passed — was far from ideal.
“This week I asked the state of New York for help. That is borrowing authority, it’s not something we want to use or intend to use in the first instance but it’s something we need as a last resort,” de Blasio said. “No one wants to borrow. What we want is our federal government to step up.”
State lawmakers returned to Albany Tuesday and are expected to vote on the matter this week.
The mayor previously estimated that the city would lose $7.4 billion in tax revenue as a result of the months-long shutdown of businesses.
Last month, he introduced a new $89.3 billion budget that slashed $6 billion, including cuts to the city’s public pools and other summer youth programs, from what critics charge was already a bloated spending plan. The city has until the end of June to adopt its budget.
Gov. Cuomo, meanwhile has been loathe to OK the city-borrowing bill, noting “borrowing for operating expenses is fiscally questionable” during his daily briefing Tuesday.
“We don’t want to create more debt than the state can pay going forward, and we don’t want to create a situation for the state or any local government borrows so much money that they can’t repay it,” he said.
“Then you have to start to cut services and now you’re in that vicious downward spiral. Right? We’ve been there before, New York City has been there before.”
Meanwhile, de Blasio said as of Monday, there were 55 new coronavirus hospital admissions citywide.
“That’s really good news,” he said.
Eight percent of people have tested positive for COVID-19, well under the city’s threshold of 15 percent.
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When you shoot yourself in the foot, it will be painful. Politicians decided to kill the economy, rather than protecting the vulnerable and it looks like it cost NYC a lot of money to shut down
4th Turnings…get ya some.
It’s all over but the shouting.
Didn’t you mean to say shooting?
So this person shuts down his entire city for 3 months and is now begging THE FEDERAL TAX PAYERS to pay his city’s bills? That’s huge balls. And the unmitigated gaul of this man, saying he doesn’t want to borrow from his OWN STATE…that the feds HAVE TO step up?
Hey, shit stain, how about you stop whining and open up the city for business again? You ruined thousands and thousands of small businesses now and for years to come. Your whole house of cards was built on BS and now it’s gone and you expect everyone else to pay.
Look, I know this is going to come as a total shock to you, but I can tell you right now that your average american scattered all over this country doesn’t give a flying rat’s ass about NYC and your problems right now.
We all have our own fish to fry and can’t be bothered listening to you after you pretty much did this to yourself.
There was never, at any time, a FEDERAL mandate to close businesses. This was left to the governors of each state, and guess what? You blew it. You know you blew it too. You merrily went along with everything Cuomo said, nary a dissension in the ranks. I can imagine you at night, sweaty, pacing, wondering if the Feds are going to come through for you and bail your sorry ass out. Wondering if Cuomo will somehow work his meatfisted magic and get them to give the money out like the Godfather at his daughter’s wedding.
Wondering how you are going to tell the very powerful teacher’s union that the till is empty. When crime spikes through the roof because there is no money to pay police officers because you wasted it all on stupid shit:
https://dailygazette.com/article/2019/08/16/editorial-another-sign-of-waste-in-new-york
Everyone that got to leave and party in Hamptons gave you a big thumb’s up and then packed up their Land Rovers and skedaddled out of town like their asses were on fire.
You were riding high on the real estate taxes that were pumped every higher by mental defectives paying outrageous prices to live in this sorry ass city. While mental defectives of the wrong type roam the subway, the smell of urine ever present.
Too bad you don’t have that $65 million now. Oh well. I guess hindsight is 20/20 amiright?
PUP,
Do you really think he cares if he gets the bailout or not?
He absolutely wants the money to continue in power. So yes. He cares very, very much
He’s either known he was always going to get it or he doesn’t care.
Well, it would be a shame if the quality of life in New York City became unattractive.
It’s New York being New York. It’s a giant, parasitic fucking boil on the arse of America. Public pools? Shit, there are a lot of poor families in this country that’d like to just be employed right about now.
Screw NYC… the population there elected dumbass politicians who ordered a needless shutdown, so compromising NYC’s tax revenue. These consequences were plainly foreseeable. Dumbassery has consequences.
I vote to let the population of NYC pay for its error. I have no interest in bailing-out NYC with my own tax dollars.
Is he that stupid to actually believe that we are taking him at face value and believing this line of b/s?
Of course they’ll get the bail out.
Yup. It just won’t be publicized. If there’s one thing we all can agree on, I hope it’s that this country should never again elect a New Yorker to a position above sanitation engineer.
You know you closeted freak, May you or the moronic governor might have done your job. No, to busy pandering for votes with your goofy social justice bull shit. This really sucks for your constituents, time for more to move. No, we should not give you a bail out and it is not everyone else responsibility because it is not their fault. You created the mess you fix it.
The virus spent the money?
Boy o boy; the tolls for the bridges and tunnels in and out of Noo Yawk are going to be going up.
Can’t youz see $50 a pop to cross the Verranzo or George Washington?
It’s coming Gothamites (and Sodomites). Enjoy.
Too bad they ran Amazon out of town, they’d be flush right now.
Sorry Bill, Wall Street has our money tied down for the next thousand years. Maybe you could cry to them? After all, Wall Street is in your city. Surely they will have at least some pity.
Perhaps he can auction his nipple rings.
Seem to remember a great cover of the NY Post from the mid-70s when the same things happened…
(President) “FORD TO NEW YORK – DROP DEAD”
Those who forget history are condemned to repeat it.
From the heart of flyover country…..fuck these pompous assholes and kiss my redneck ass!
Tough shit! Let me reflect a moment to see if I give a shit. Nope I don’t.
Advice for Hizzohnor: Give it back to the Injuns.