June 24, 2013. In an Op Ed, “The City Budget Should Be a Force for Good,” which was recently published by The Chief-Leader, FPI’s Deputy Director and Chief Economist James Parrott argues that the annual budget process should be about planning for the future and not just managing expenditures. He identifies and discusses four areas where the budget can be used to produce meaningful outcomes for all New Yorkers.

  1. The city needs to re-think the social-safety net and policies to combat poverty.
  2. City resources should be used to grow the economy by investing in human capital and infrastructure.
  3. The city should enhance the overall progressivity and efficiency of the city’s tax structure.
  4. Engaging the city workforce is more a question of management than one of budget.

Good fiscal stewardship means not only balancing the budget but investing in long-term solutions, re-thinking spending priorities, and enlisting labor as a partner. A more detailed version of Parrott’s critical analysis of the budget challenges facing the new administration is available on the website of Toward a 21st Century City for All, an initiative of the Center for Urban Research at the CUNY Graduate Center.