Mayor Bloomberg's run of good press continues, despite overturning a very popular term limit law, proposing oppressive levels of new taxation and picking fights with Albany's leaders, such as Sheldon Silver and Gov. Patterson.  In Today's NY Post, he's essentially given credit for holding the line on spending by proposing to withold pay increases for his Adminstration's managerial staff.

"In a tradition that dates back decades, managers' salaries follow the pattern set in new contracts with District Council 37, the largest municipal union...Last month, DC 37's 100,000 workers won raises of 4 percent in each of two years, retroactive to March 3."

I, like the Post, applaud the Mayor for saving the city $50 million in 2009 by witholding the pay increases for his managers, but the comparison is a joke.  Why are we not talking about the sheer idiocy of "DC 37's 100,000 workers won raises of 4 percent in each of two years, retroactive to March 3?"

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At Huffingtonpost.com, the site's namesake wrote a piece entitled, "Laissez-Faire Capitalism Should be as Dead as Soviet Communism."  When I grow concerned of a weakened two-party system and GOP, it's sentiment like this that concerns me the most.  She opens up with...

"The collapse of Communism as a political system sounded the death knell for Marxism as an ideology. But while laissez-faire capitalism has been a monumental failure in practice, and soundly defeated at the polls, the ideology is still alive and kicking."

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The Democrats have finally regained control of every branch of government in our nation's capital.  They are just a few seats away from having a filibuster-proof majority in the Senate, leaving no obstacle in thier way to introducing and enacting their full agenda.  Although clearly good for their Liberal philosophy, there are a few other benefits to gaining unchallenged power - unchallenged patronage and access to federal resources and programs. 

With NY's federal delegation being almost entirely composed of experienced "powerful" Democrats, it would be common sense to expect that New York State and City get treated well (or at least fairly) in the upcoming Congress, but recent events are starting to make it look like we shouldn't be counting our chickens just yet:

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The discussion over Governor Patterson's projected State budget cuts and tax increases has started.  His plan is being offered to deal with the projected $15 billion budget gap facing New York State in 2009.

On the revenue side, the plan describes tax increases such as a range of 4% taxes on items like itune downloads, taxi and limo rides, movies, concerts, sporting events, cable TV and certain "personal Services," like massages and gym memberships.  The Governor also proposed increasing fees at the Department of Motor Vehicle and taxes on beer, soda, clothing and shoes.

On the spending side, the plan describes cuts of about $9.5 billion eventhough the overall budget will still grow $1.4 Billion to more than $121 Billion.  Many of the cuts seem to be in the healthcare and education area, which makes sense because these items comprise nearly 50% of the state's overall expenditures.  Also, the Governor is asking state workers to give up a 3% wage increase for the upcoming year and defer one week's pay.

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In the first two major free agent signings of the new baseball season, the Mets and Yankees bring in, arguably, the two most sought after players available.

The Mets sign relief pitcher Francisco Rodriguez to a three-year, $37 million contract.  Also know as K-Rod, the former Los Angeles Angel set a record with 62 saves last year.  This moves fills a need the Mets clearly had after the past two years of late season collapses.

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It is being reported right now that Illinois Gov. Rod Blagojevich has been caught in a corruption scandal - essentially in an effort to "sell" the appointment of the Senator who is to replace the President Elect in D.C.

 Illinois has been the center of many cases of corruption over the years - something that was swirling around Barack Obama's campaign over the last two years.   Illinois politics is so inbred and corrupt that in the recent case involving former Gov. George Ryan, a Republican, U.S. Senator Dick Durbin was considering asking President Bush for a commutation of his sentance for his criminal behavior, which Illinois Republicans were opposed to.

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This past week marked the arrival of the most important Auto Show in our nation's history to Washington, D.C.  (Although with the hypocrisy of Congressional leaders front and center, it looked more like a dog and pony show).

Two weeks ago, the CEO's of the three largest car manufacturers in the United States came to Congress asking for financial assistance.  Foolishly, the raised the ire of the public by arriving in luxury jets, which led NY Congressman Gary Ackerman to comment, "There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hands." 

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With the appointment of US Senator Hillary Clinton to Barack Obama's Administration, Governor Patterson has a big decision to make.  Fred Dicker wrote today about the pressure he faces in making this critical call.  The NY Post also gave odds to a number of potential Democratic choices.

Knowing the Dem's and their childish desire for political correctness, I doubt that the "best" choice will be made.  Rather, Gov. Patterson will more than likely select a woman to replace a woman in the US Senate.  I would think that this would make the selection of Manhattan/Queens Congresswoman Carolyn Maloney as the most likely choice.

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It was reported early this month that New York City's Pension Fund, NYCERS, invested nearly 5% of its $39 billion portfolio into fixed-income Hedge Funds.  The vote of the Board of Trustees, which reportedly took place on September 23rd, was unanimous - with Finance Commissioner Martha Stark, Comptroller William Thompson, Public Advocate Besty Gotbaum, the Borough Presidents and a few key union leaders as the decision makers.  Hedge funds have been major losers for the pension fund system around the country this year.

With most Americans glued to the financial markets since the beginning of October, it's not news to anyone that such a decision may have been a significant mistake.  And with Taxpayers on the hook for any pension payments to city retirees that can't be completed using actual pension fund investment returns, New Yorkers should be concerned about the future of this and the other four NYC pension funds - with total investments of $105 billion as of June 30th, 2008.  The City has already budgeted nearly $27 billion in tax revenue to cover the collective losses of the funds for the next three years.

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As the transition team for President-Elect Barack Obama makes announcements regarding White House appointments, the reality of what an Obama Administration will look like is starting to set in.  Although his slogan was "Change we can believe in," does it seem his first few appointments will be willing to support that credo?

Take for example his soon-to-be Vice-President, Joe Biden.  This 30 plus year veteran of D.C. politics at one point in the primary denounced Barack Obama's "poor foreign policy judgment" and strongly argued that "Barack Obama is not ready to be president."  Or Hillary Clinton, Obama's soon-to-be Secretary of State and former First Lady, who questioned Obama's readiness to answer a crisis phone call at 3am and who disagreed with him on a wide-range of foreign policy issues.  Then consider Bill Richardson, Tom Daschile, Larry Summers, Eric Holder and Rahm Emanuel.  All have been longtime power-players in our nation's capital, where "change" is often a dirty word.

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