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January 19, 2017. REUTERS/Stephanie Keith - RTSWDEL By Daniel Bases | NEW YORK NEW YORK New York City Mayor Bill de Blasio is preparing to unveil a preliminary $84.67 billion budget for fiscal 2018, approximately more than $1 billion over the current fiscal year, his office said late on Monday. "This is a responsible budget that focuses on improvements to public safety, education, infrastructure and affordability," a spokesman in the mayor's office said. De Blasio is scheduled to unveil the budget on Tuesday afternoon. New York's City Council will hold budget hearings over the coming months. It must approve de Blasio's executive budget proposal by June 30. Last year de Blasio reached a budget deal with the City Council nearly a month ahead of the deadline. Earlier on Monday, Moody's Investors Service highlighted in a report that New York City's economic output exceeds all but four U.S. states. Its status as a global financial hub, means jobs in finance, insurance, and real estate account for 10.9 percent of its employment and 29 percent of its wages, Moody's said. "It's $1 trillion tax base is larger than Los Angeles, Chicago, and San Diego combined," the firm said in a statement.
Past all of the partisan smoke and hyperbole, there is room for compromise with a hybrid system that pulls some of the best from both camps. This is how compromise typically happens but it has been so long in this country since we have shop mango seen it we have just forgotten what it looks like. The Republican and Democratic parties exist in the first place because of these same fundamental ideological differences. None of this is new. I will suggest that a template for how compromise could occur can be found in the 2012 Wyden-Ryan Medicare Reform Proposal. In a 2012 blog post I said this: What is elegant about the Wyden-Ryan compromise is that they [Senator Ron Wyden (D-OR) and Representative Paul Ryan (R-WI)] have proposed a hybrid planit contains significant elements of both a Republican defined contribution and a Democratic defined benefit approach. Republicans get an affordable cap on what the federal government would spend on Medicarethat growth would be no more than GDP+1 percentand they would get a program built on a free market platform where consumers would have the incentive to maximize their premium support by shopping for the plan that best meets their needs. Democrats would get a plan that still contained the traditional government-run Medicare plan as one of the options and they would have a plan where all seniors were guaranteed a federal premium support level good enough to buy at least the two lowest cost Medicare plans available in their communityalbeit maybe not the traditional Medicare option. If there was ever a place for Republicans and Democrats to compromise on Medicare reform this is it.