Tag Archives: budgets

How bad are the finances of the state-controlled Metropolitan Transportation Authority? Last week, the MTA was forced to borrow money from the Federal Reserve, the country’s central bank and the lender of last resort to financial companies – not transit authorities. As the months tick by without the help of …

The New York City Council approved the $ 88.1 billion city budget just after midnight Wednesday in hopes of solving the Big Apple’s $ 9 billion budget deficit, in part by reducing spending on New York police at $ 1 billion. The deal became official once Councilwoman Deborah Rose became …