75-18-7
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New York[edit]
Transcript[edit]Maybe it’s a good idea to hold the National Political Conventions in New York next year. It could be very educational. I’ll be right back. As a Californian I wouldn’t want you to think I begrudge New York City rather than Los Angeles getting the Democratic National Convention. As a matter of fact perhaps those who help shape national policy should live in and inspect at first hand what the “new economics” of the past few decades have done for “Fun City” or in the words of Mayor Beame1 the “Big Apple.” Seriously I don’t believe any American where ever in the land he may live takes pleasure in the plight of our greatest city. New York for more years than I’ve lived as has been the very symbol of Americas greatness. Financial capitol of the world, center of art, the theatre, publishing and style. Today it is prostrate, facing default of its bonds which will have nation if not world wide repercussions and dying the slow and painful death of bankruptcy. It’s leaders cry out for help, asking the state and the nation to bail it out. But why should the people of Peoria, St. Louis or rural America be taxed to save this city of such great wealth? If we were talking about a natural disaster, Americans would mobilize, as they always have, to help their neighbors. Even neighbors 3000 miles away. But New York is not the victim of some calamity of nature or of unavoidable economic troubles. New York is an example of what can happen to this entire country if we don’t re-chart our course and restore common sense & fiscal responsibility to the handling of public affairs. Cruel as it may sound, it would be foolish to tap our national resources to bail New York out of its troubles when no one in the city seems moved to correct the policies which led to its present disastrous plight. It’s bankruptcy is not the result of recession. There was no falling away of revenues. As a matter of fact real property values, including taxes and sales taxes have held up better than in most cities and New York has probably the highest rate of taxation in the country. The problem lies on the spending side. A whole army of politicians and city leaders past and present thought they could promise anything and everything and never face a day of reckoning. Tax revenues have been increasing 8% a year in New York — but spending has gone up 15% a year. That one city has almost 4X as many employees as the state government of California the most populous state in the Union. There are 49 municipal workers for each 1000 residents. Most other cities run between 30 and 35. New York spends $151 a year per person on health and hospitals; most other cities are at $50 or below. Only one city in America of more than a million population spends more than $20 a year per person on welfare; New York is $315. It’s city university is larger than virtually any state university in the land and not one student, regardless of means, pays a penny in tuition. One last point. New York’s swollen payroll is augmented by the most generous fringe benefits in government. For many employees, they equal 50% of base pay. The sad fact is, New York City must face reality and save itself and we’d all better watch and learn. This is RR. Thanks for listening. |
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