Running Out Of Other People's 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.
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!
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. I’ll give you a few examples of my favorite wildly skewed spending priorities. . . .
But, with the economy booming, what do we care? Don’t we have plenty of money for whatever spending initiative sounds good at the moment? Actually, we are reaching limits all over the place.
Over in the Democratic Party race for the presidential nomination, the key qualification for running is an unshakable belief that it is impossible to run out of other people’s money.