Tag: Budgets and Budgeting

What’s Wrong With Functional Finance? (Wonkish)

ImageStill relevant after all these yearsCreditAmazon.com Well, it looks as if policy debates over the next couple of years will be at least somewhat affected by the doctrine of Modern Monetary Theory, which some progressives appear to believe means that they don’t need to worry about how to pay for their initiatives. That’s actually wrong […]

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New York Millionaires Tell Albany: Tax Us, Please

ALBANY — A millionaire walks into the State Capitol and says, “Raise my taxes.” Please. This was no joke: The millionaire was Morris Pearl, a former BlackRock executive who is the chairman of a group called the Patriotic Millionaires, a group dedicated to pushing for higher taxes on businesses and the ultrarich. Testifying on Tuesday […]

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On His Visit to Albany, de Blasio Gets a (Mostly) Hearty Embrace

[What you need to know to start the day: Get New York Today in your inbox.] ALBANY — After years of journeying to the State Capitol for reliable doses of Republican rejection, Mayor Bill de Blasio, on his first budget trip here under a new Democratic regime, was likely prepared for at least some agita. […]

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Your Grandchildren Are Already in Debt

Medicare for All. The Green New Deal. Free college tuition. With each new entrant into the Democratic presidential sweepstakes comes a fresh cascade of ambitious social programs to entice and excite would-be supporters. The list of “payfors,” to use a bit of Washington jargon, grows more slowly. They’ll pay for this how, again? Tax the […]

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Wall Street’s Slide Hurts New York; City Loses Nearly $1 Billion in Tax Revenue

[What you need to know to start the day: Get New York Today in your inbox.] New York City officials are projecting that total personal income tax revenues will come in $935 million lower than the previous year, a sharp reversal of the nearly decade-long boom that accompanied Wall Street’s gains. The 7 percent drop […]

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A School Board Says No to Big Oil, and Alarms Sound in Business-Friendly Louisiana

BATON ROUGE, La. — It was a squabble over $2.9 million in property-tax breaks — small change for Exxon Mobil, a company that measures its earnings by the billions. But when the East Baton Rouge Parish school board rejected the energy giant’s rather routine request last month, the “no” vote went off like a bomb […]

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Fixes: Navigating Bureaucracy? Try Technology

First of two articles. The recent partial government shutdown could have been a disaster for the 38 million Americans who rely on the Supplemental Nutrition Assistance Program, formerly known as food stamps. But the United States Department of Agriculture, which runs SNAP, saved the day. Along with their usual January benefits, SNAP’s users received an […]

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Government Reopens as Trump Casts Doubt on Prospects for a Border Wall Deal

WASHINGTON — Hundreds of thousands of federal employees returned to work on Monday with a presidential promise of a paycheck “very quickly” but no guarantee that they will be working in three weeks, when a temporary stopgap of funding expires. President Trump and congressional Democrats arrived at a short-term agreement late on Friday, reopening the […]

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Cuomo’s Blunt Subway Strategy: Humiliate the M.T.A. to Force Change

[What you need to know to start the day: Get New York Today in your inbox.] New York City’s subway and bus system needs higher fares to shore up its finances and to make much-needed improvements in service. But on Tuesday, Gov. Andrew M. Cuomo said he opposed the increase, once again publicly humiliating the […]

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Tech Tip: The Easy (and Free) Way to Make a Budget Spreadsheet

It’s January and you’ve gone and done it: You’ve resolved to keep better track of your personal finances. But deep down, you’re not sure where to start. Sure, you can buy accounting software, sign up for a service or poke around your bank’s online offerings for money management. But don’t overlook what is probably the […]

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Legalized Marijuana. A ‘Green New Deal.’ Cuomo’s 2019 Vision Tacks Left.

[What you need to know to start the day: Get New York Today in your inbox.] ALBANY — With a Democrat-controlled State Legislature and the bold promises of an election year behind him, Gov. Andrew M. Cuomo on Tuesday laid out a sweeping progressive agenda for the coming year, including legalizing marijuana, establishing a congestion […]

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What’s Really at Stake in the Los Angeles Teachers’ Strike

For decades, public schools were part of California’s lure, key to the promise of opportunity. Forty years ago, with the lightning speed characteristic of the Golden State, all of that changed. In the fall of 1978, after years of bitter battles to desegregate Los Angeles classrooms, 1,000 buses carried more than 40,000 students to new […]

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Wealth Matters: ‘Deciding How to Decide’: Even the Rich Need Advice on Budgeting

If you’re worried about your credit card bills from the holidays, you’re not alone: Even the wealthiest Americans, who have little chance of running out of money, are concerned about their spending. A document circulating internally among Merrill Lynch’s private banking and investment group, which will be released in the next couple of months, aims […]

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Gavin Newsom’s First Budget Calls for Big Spending and Paying Down Debt

SACRAMENTO — Gov. Gavin Newsom proposed a blizzard of new spending in his first budget, calling for increased expenditures on education, homelessness and poverty, as well as programs to bolster California’s long-term fiscal health. His $209 billion proposal, which now goes to the Legislature, left little doubt that California, already one of the more liberal […]

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Democrats Now Control Albany. How Will They Handle 5 Key Issues?

It is going to be a big year in Albany. That, at least, is the promise of New York’s Democrats, who now control all the lawmaking arms of state government for the first time in a decade. They have promised voters the moon and more, vowing to unleash a torrent of new laws that they […]

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A Gutted I.R.S. Makes the Rich Richer

Let’s take a moment to pity the Internal Revenue Service. Yes, to many Americans, it’s a money-grabbing ogre siphoning hard-earned cash to the faceless federal bureaucracy. But the nation’s tax collector today is an enfeebled enforcer. Its budget has been bled dry by a Republican Congress in service to wealthy donors and businesses aggressively pursuing […]

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Shutdowns Are ‘All Games of Chicken.’ Here’s How They’ve Evolved.

With large sections of the federal government shut down, thousands of public employees are bracing to work without pay until Congress and President Trump agree how to spend taxpayers’ money and reconcile ideological differences. Mr. Trump said he’s prepared for a “very long” shutdown over his demand that a spending bill include $5 billion to […]

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Unrest in France Hinders Macron’s Push to Revive Economy

PARIS — The need to accelerate growth has long been visible in almost every corner of the French economy, from dreary unemployment offices packed with jobseekers to businesses whose financially stretched customers struggle to make do. President Emmanuel Macron pledged on Monday to change those dynamics by improving the country’s long-term prospects. But his halting […]

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How Does the E.U. Think This Is Going to End?

The European Union and Italy have been in a standoff over the Italian government’s debt for weeks. Brussels — supported by the rest of the governments of Europe — seems to believe that Rome will soon back down, delivering another victory for European Union discipline. But that’s far from certain. Moreover, even if the Italian […]

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