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Old 07-28-2008, 10:04 AM
 
Location: Bronx, NY
5,503 posts, read 17,193,948 times
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GOV WARNING OF WORST ECONOMY IN DECADES


ALBANY - Gov. Paterson, convinced the state faces its worst fiscal crisis since the mid-1970s, will deliver the grim news in an unprecedented special address to New Yorkers as soon as tomorrow night, The Post has learned.

The governor's address - which his aides hope will be televised by public and cable news stations - will say that plunging state revenues will force painful cuts in state services, necessitate a reduction in the state work force, possibly through layoffs, and require other difficult economic measures, source said.





more here GOVERNOR PATERSON WARNS STATE OF WORST ECONOMY SINCE 1970'S - New York Post




Bad news for the city. They're going to have to cut back on a lot of services. These include police officers. Look for an increase in graffiti, even on the trains and a definite spike in crime.

It has come full circle. It was nice while it lasted but NYC is headed in a downward spiral with nothing to stop it.
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Old 07-28-2008, 10:05 AM
 
Location: Bronx, NY
5,503 posts, read 17,193,948 times
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Sorry ...I should add.

NY state, not only NYC.
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Old 07-28-2008, 10:57 AM
 
Location: Central, NJ
2,310 posts, read 4,812,001 times
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I sincerely hope the city doesn't tumble toward the 70s. It would be a huge mistake to cut the police because if the tourists stop coming that's even more lost revenue. I don't think it's that dire yet but we are in times more troubling than the last several years.
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Old 07-28-2008, 11:08 AM
 
98 posts, read 85,326 times
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Quote:
Originally Posted by SuperMario View Post
GOV WARNING OF WORST ECONOMY IN DECADES


ALBANY - Gov. Paterson, convinced the state faces its worst fiscal crisis since the mid-1970s, will deliver the grim news in an unprecedented special address to New Yorkers as soon as tomorrow night, The Post has learned.

The governor's address - which his aides hope will be televised by public and cable news stations - will say that plunging state revenues will force painful cuts in state services, necessitate a reduction in the state work force, possibly through layoffs, and require other difficult economic measures, source said.





more here GOVERNOR PATERSON WARNS STATE OF WORST ECONOMY SINCE 1970'S - New York Post




Bad news for the city. They're going to have to cut back on a lot of services. These include police officers. Look for an increase in graffiti, even on the trains and a definite spike in crime.

It has come full circle. It was nice while it lasted but NYC is headed in a downward spiral with nothing to stop it.
Sorry to burst your bubble, but I guarantee New York City is NOT going in a downward spiral. If you were unaware, this whole country is going through this fiscal crisis and I highly doubt New York will ever go back to how it was during the 70s in our lifetime.
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Old 07-28-2008, 11:08 AM
 
16,092 posts, read 35,779,846 times
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Bring back Studio 54 and disco.
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Old 07-28-2008, 12:28 PM
 
1,278 posts, read 3,664,335 times
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Mario-I think to say that NYC will resort back to the days of the 70's is very premature. The economy will fluctuate, but that does not necessarily mean that NYC is on its way to becoming crime invested and bankrupt. What makes you think NYC is headed that way?

Last edited by Rudbeckia; 07-28-2008 at 12:59 PM..
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Old 07-28-2008, 12:31 PM
 
1,278 posts, read 3,664,335 times
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The title of that article and the information in the article don't really go together, IMO.
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Old 07-28-2008, 01:40 PM
 
Location: East Village, NYC
217 posts, read 816,469 times
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All they have to do in New York City is raise taxes... ...and they'll have plenty of money.
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Old 07-28-2008, 01:52 PM
 
98 posts, read 85,326 times
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Quote:
Originally Posted by Rudbeckia View Post
Mario-I think to say that NYC will resort back to the days of the 70's is very premature. The economy will fluctuate, but that does not necessarily mean that NYC is on its way to becoming crime invested and bankrupt. What makes you think NYC is headed that way?
I think he just wants it to head that way. Wishful thinking on his part.
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Old 07-28-2008, 02:09 PM
 
Location: Bronx, NY
5,503 posts, read 17,193,948 times
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For those who think NYC is not affected. From the article

Quote:
A day later the state Financial Control Board said New York City's projected two-year deficit had grown by a whopping $4 billion because of Wall Street losses and the economy's overall decline.
Services will be cut. A reason the city has improved is because of the relentless spending used to improve quality of life. Now this has to stop. Read the article again, basically this is as bad as its been in 33 years. 33 years ago, the city stopped services. You saw less police and bombed out trains. There is no difference now. The city is going to have police force down to 1992 levels. With this expect an increase in crime. If you people think that somehow NYC is foolproof from ever "declining" again then I would like to hear reasons for this so.

Till then, all the facts are pointing to a decline.
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