Public Pension-Fund Losses Surpass Worst From ’08 Crisis: WSJ Condensed

In Columns by Hal PetersonLeave a Comment

Public pension plans lost a median 13.2% in the three months ended March 31 the biggest one-quarter drop in the 40 years the firm has been tracking, driving up already-burdensome retirement costs for governments. “There will be a lot of pressure to cut benefits,” said Don Boyd, co-director of the State and Local Government Finance Project at the University at …

Should Florida Bail Out New York?

In Columns by Hal PetersonLeave a Comment

A comparative look at population growth and spending over 10 years. Democrats want a $915 billion budget bailout for states and cities, and New York Governor Andrew Cuomo is the leading lobbyist. His main public antagonist on the subject is Florida Senator and former Governor Rick Scott. Both men were first elected Governor in 2010, so let’s do the math …

States Created Their Own Pension Debt Mess

In Columns by Hal PetersonLeave a Comment

The coronavirus has laid bare that many states governments are in dire straits because of their huge pension debts they have rung up. Also, many municipalities have the same issue. A Forbes magazine article from May 2019 says that Pension Tracker calculates that the total pension debt on a market basis at $5.2 trillion for state and local governments. Any …

The Good, Bad, Ugly – Cuomo’s budget

In Columns by Hal PetersonLeave a Comment

By: Greg David – Empire Center In normal times a government budget is a detailed list of what money will be coming in and how it will be spent, and the idea is to end the year right on plan. But the state budget adopted by Gov. Andrew Cuomo and the Legislature last week is just moving forward “on a …

Another look at the long lines in front of the motor vehicle bureau etc

In Columns by Hal PetersonLeave a Comment

In a letter written to Newsday on March 1st Steve Feuer suggested their recent column and comment on the new Green Light Law was not about safety for other drivers but was about getting people licenses so they can eventually vote. If people break our laws and are given what they don’t deserve, let them wait. If the government elitists …

Who’s running the railroad?

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Crain’s NY Business – By Ira M. Millstein 9/13/19 New York must decide whether politicians or independent boards control public authorities Public authorities over the past 50 years have become a critical source of funds for the state. As public needs have outstripped tax revenue, the state has increasingly turned to these quasi-governmental bodies i.e. the MTA, the Power Authority …

Have you noticed the long lines around the motor vehicle buildings in your neighborhood? Should you be concerned?

In Columns by Hal PetersonLeave a Comment

The above photo was taken at the Motor Vehicle office on Fort Greene Place in Brooklyn a few days after the new Green Light Law went into effect allowing all New Yorkers (over the age of 16) to apply for a standard, non-federal license or learner’s permit regardless of their citizenship or legal status. A large green sign in the …

Thank God Nassau County is not running an airline!

In Columns by Hal PetersonLeave a Comment

More than a decade ago, Nassau County awarded a multimillion-dollar contract to a consultant hired to merge into a single system its failing, outdated computer networks that manage everything from employee paychecks to contractor payments. The project’s expected completion date was in 2012. Now, after spending a total of $43.4 million in borrowed money for the project, the county still doesn’t have its new computer …

Illegal New York immigrants can now “See the USA in a Chevrolet.” Dinah Shore – 1953.

In Columns by Hal PetersonLeave a Comment

Although GM was anxious to sell cars, no one (including Dinah) ever envisioned their use by individuals that don’t have to prove they are here legally. That all changed last Monday when Gov. Andrew Cuomos’ “Green Light Bill” became law granting undocumented and illegal immigrants’ access to a driver’s licenses. To stir these murky waters even further, the governor stipulated …

National Grid, Long Islands gas supplier, agrees to end gas moratorium.

In Columns by Hal PetersonLeave a Comment

The Governor’s position: He threatened to pull the plug on its state contract if National Grid doesn’t back down from its claim that it couldn’t keep up with demand for gas service after the state denied a permit for a new pipeline. The decision reached: “National Grid agreed to lift a moratorium on new natural gas hook-ups and will pay …