Cannot wrap my mind around the last 24 hrs in American history.

So instead here's a thread on NYC fiscal projections & their political implications. Everyone does self-care differently ;)

https://ibo.nyc.ny.us/iboreports/hard-times-ahead-while-projected-budget-gaps-are-modest-the-economic-and-fiscal-risks-nyc-faces-are-not-fiscal-outlook-january-2021.pdf

Topline: there is no fiscal crisis.

What we have is a crisis for families across the city struggling to keep food on the table and a roof over their heads. Massive public spending is the only path to recovery.

We've lost up to 662k jobs, with maybe half of them projected to return over the next 2 yrs.

We need immediate action to help the hardest hit workers, getting back to work and making sure that families who've lost incomes keep basic social protections.

Without exaggeration, our future depends on Brooklyn-bred @JanetYellen and @SenSchumer using their powers effectively.

Economic recovery has to be smart - not catering to the politically well-connected, but helping those first who were hit hardest.

Interesting nugget. As this piece from @DKThomp explains, long-term population decline is largely explained by the ridiculously high cost of living here. Something to address as we rebuild our economy!

https://www.theatlantic.com/ideas/archive/2019/09/americas-three-biggest-metros-shrinking/597544/

Who can afford to pay more taxes? Right answers only.

(FYI "Class 2" is apartment buildings over 3 families)

Future revenue depends on maintaining high quality public transportation! cc @NYGovCuomo

*faster than any other major expense in the budget*

Refusing to raise revenue = Giving away our tax dollars to muni market vultures for decades to come

Would love to see the budget lines for Teslas, submarines, and settling police brutality lawsuits

Lots of noise from the right about cutting services to solve a fictional fiscal crisis & about billionaires leaving town to avoid paying taxes - with absolutely no evidence to back up their claims.

Narcissistic billionaires making sh*t up...

What we need is a people-first recovery financed by increased revenue & federal aid. What will get us there is a coalition of progressive city, state, and federal electeds working together.

Mayoral candidates and, ahem, governors need to show voters how they can deliver.