The Devil, DeBlasio

BY KEVIN DEUTSCH

New Yorkers will decide who their next mayor will be less than a month from now. They have a choice between Republican Joseph J. Lhota and Democrat Bill DeBlasio. Their choice will determine the financial future of the city.

Joe Lhota is the best man to be the mayor of New York City. Plain and simple. Mr. Lhota—who served as Deputy Mayor under Rudy Giuliani and as MTA Chairman—is a management genius, who will bring efficiency to the city’s sprawling, monstrously large government. While New York City has prospered under Bloomberg, its spending is out of control. The city’s debt has doubled to $110 billion, and as of now, taxpayers in the city pay over $600 million per year in debt service. This, in large part, is because of the pensions for city workers (spending on pensions has increased 519% since 2002), and Mayor Bloomberg’s beneficial, though costly programs. While it is uncertain whether Mr. Lhota could fix the pension system, he would certainly bring some fiscal responsibility to city government.

Laughably, Bill DeBlasio claims to be a “fiscal conservative,” yet he voted to increase spending by 50% while a councilman from 2002 to 2010. Mr. DeBlasio is also a darling of the labor unions, including SEIU (the Service Employee International Union), which represents government workers. With Mr. DeBlasio as mayor, you can be certain that there will be little effort to reform New York City’s pension system. Mr. DeBlasio is also intent on further expanding the size of New York City’s government, by providing public pre-kindergarten education. While this would behoove the city’s children, there is no practical way for the city to pay for it, other than taking on more debt. Mr. DeBlasio plans to raise taxes on incomes over $500,000—the typical liberal knee-jerk reaction—but this will never pass in New York State’s Republican controlled state senate.

If you’re a New Yorker who loves the drama of bankruptcy, vote for Mr. DeBlasio. If you’re a New Yorker who wants a smart city government, vote for Joseph J. Lhota.