New York City Mayor Michael Bloomberg said New York City is well positioned to weather the economic storm caused by the Lehman Brother’s bankruptcy. It isn’t that he doesn’t recognize the challenges that lay ahead, but he understands the way the economy works.
Earlier today, Obama’s campaign attacked John McCain for saying that the fundamentals of the US economy are strong. Ben Smith at Politico asked Mayor Bloomberg if he agrees with John McCain’s assessment.
“I do agree that fundamentally America has an economy that is strong,” he said. “America’s great strength is its diversity, its hard work, its good financial statements, its broad capital markets,its enormous natural resources” and its work ethic, he said at an afternoon press conference devoted to reassuring New Yorkers that the city’s finances and its economy are intact.
“I’d rather play America’s hand than any other country,” he said. “Without problems? No.”
Compare Mayor Bloomberg’s comments to those of New York Governor David Paterson. While I applaud the fact that Governor Paterson is lifting some restrictions to help AIG stay afloat, I have to take issue with some of his statements.
He called on the federal government to aid AIG.
“Like all New Yorkers, I’m deeply concerned about the fiscal crisis . . . This is a very serious situation,” Paterson said.
Asked how many jobs could be lost in financial services, Paterson said the “worst-case scenario” was 30,000.
Calling on the federal government to aid AIG!?! Does he think the US government is one big money tree? I know they’ve acted that way recently, but enough is enough. The American taxpayer can’t afford to bail out any more failing companies. That only makes matters worse in the long run. And why would he give a worst case scenario for job losses? He went on to say it probably wouldn’t be that bad, but it sounds to me like he’s just trying to create panic.
Governor Paterson sounds just like Barack Obama, Joe Biden and the other doom and gloom Democrats. It’s one thing to recognize a problem, it’s quite another to incite hysteria.
Although Mayor Bloomberg is no longer a Republican, he understands the economy and isn’t out there making matters worse for political gain.