City Spending Money We Don’t Have

You don’t need a degree in economics to understand the common sense principle that you can’t spend more money than you have.Yet year after year, our City Council and mayor are in a race to outspend prior fiscal years.
The most recent budget proposed by the mayor is well over $98 billion and fails to take into account the money from the federal government , without which the city and state would be reeling in bankruptcy. Instead of proposing a lean and responsible budget, the mayor is driving the city into further debt.
The city’s out of control taxation, fines and fees is causing a population shift away from New York City to states like Florida and Texas. People who move to Florida can save up to 33% of their income taxes.
Our elected officials tax the heck out of the rich and big corporations, failing to understand that they can easily leave and cause decreasing revenue collections as a result of their departure. We saw this in Long Island City when Amazon was chased out by our elected officials, devastating collateral businesses and causing tremendous job loss and opportunities.
Supporting businesses and companies meant creating good-paying jobs and opportunities. Today’s Democrats believe that the rich are evil and that corporations are demonic.
More pernicious is the real truth. The budget gets bigger and bigger on the backs of the working class. Our elected officials pander to special interests and lobbyists for donations and endorsements.

John J. Ciafone is a lawyer and Democratic candidate for City Council in northwest Queens.

Need for Reconciliation Sign of a Bad Bill

“Budget Reconciliation” may be the most popular phrase on Capitol Hill right now. This special legislative process allows certain bills to be passed in the Senate with a simple majority so long as they impact the budget.
With the Senate evenly divided – and the vice president holding the tie-breaking vote – Democrats used budget reconciliation to pass President Joe Biden’s $1.9 trillion coronavirus relief package.
Some lawmakers now suggest they’ll also try to use the budget process to overhaul the prescription drug market, as well. They plan to do this by reviving a bill passed by the House – but not the Senate – back in 2019, known as H.R. 3.
Here’s the thing about reconciliation, though: The fact that Democrats even need it is a sign of a bad bill. Under the normal process, bills need at least 60 Senate votes to become law. With the current congressional makeup, that would mean all the Senate Democrats plus at least 10 Republicans.
Such a split would compel the kind of debate and compromise that often leads to better laws. Through budget reconciliation, though, the party in power can pass occasional budget-related legislation without negotiation.
H.R. 3 is a bad bill. While it would reduce Medicare spending on prescription drugs by $456 billion over ten years, those savings would come at a steep price.
Under H.R. 3, Medicare would cap the price of 250 common medications at an amount pegged to the average price in other developed nations.
We all want lower costs, obviously, but independent experts confirm that would mean fewer new medicines.
According to the Congressional Budget Office, the bill would lead to 38 fewer new drugs coming to market over the next two decades.
The consideration of this measure is shocking considering the COVID-19 pandemic is still raging. We stand at a point in human history where all of our creativity and ingenuity and innovation have been brought to bear on a virus that has locked us inside, in many cases alone and without hope.
We’ve incurred great suffering and pain – economic and health – and we’ve likely damaged the future of many, many children, mostly black and brown, who cannot escape the cold clutches of government closures.
And what have we learned? Science wins. Human investment in research and partnerships paid off in that multiple vaccines were developed in record time.
The simple fact is our political leaders haven’t come clean with Americans. We can impose price controls on drugs and that will lower government spending, at least in the short-term. But we will also have less hope in return.
If you ask Speaker Nancy Pelosi, we can have our cake and eat it too: price controls without downside. Americans know the truth is more complicated.
There are plenty of ways to reduce what patients spend on drugs without stalling medical progress that could win bipartisan support. The whole purpose of Congressional debate is to arrive at the wisest and most effective policy.
Instead of an ill-conceived law rammed through without debate, American patients deserve a solution that works for the long term. Will Democrats deliver?

Joel White is president of the Council for Affordable Health Coverage, a coalition of organizations seeking to lower the cost of health care for all Americans.

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