https://www.manhattancontrarian.com/blog/2019-11-5-running-out-of-other-peoples-money-new-york-and-federal-versions
I’m old enough to remember a time when government officeholders thought that a significant part of their job was prioritizing various options for public spending, in recognition that overspending on lower priorities would mean that nothing would be left for higher priorities. Somewhere along the line, that old-fashioned idea has fallen away. The new fad is an unending tidal wave of proposals for new government programs and spending initiatives which will, any day now, bring perfect justice and fairness to the world. Which ones will we implement? All of them!
But what about Margaret Thatcher’s famous observation that “eventually you run out of other people’s money.” Dramatic examples of that principle at work can be observed, for example, in Venezuela; but then, Venezuela seems to be just too far away for most Americans to pay attention. So how about looking closer to home, like in New York?
The budgeting process in New York City under the reign of uber-progressive Mayor Bill de Blasio and a like-minded City Council has been one where any idea that sounds like it might be “doing good” promptly gets funded. And thus the budget for a city of 8.5 million people has gone from $75 billion in de Blasio’s first budget five years ago, to $93 billion in the current fiscal year. (That’s well over $10,000 per capita, if you want to compare it to your city’s budget.) The New York Times from June 15 provides some instances of things added in this year’s version: