Issues

Mayor Michael R. Bloomberg Accepts The National Mayoral Leadership Award From The U.S. Conference Of Mayors      

Mayor Bloomberg was thankful for being the recipient of the National Mayoral Leadership Award and joked that he was given the award so he would be obligated to reciprocate by providing those who selected him with Super Bowl tickets, which is not much of a stretch considering that Bloomberg owns the Super Bowl.

Bloomberg noted that the award could have gone to any of several other mayors who are considered the country's strongest environmental leaders. The mayors of Chicago, Seattle, and Miami were all singled out by name, but none of them has as much money as Bloomberg... {click to see full article}

Mayor Bloomberg was thankful for being the recipient of the National Mayoral Leadership Award and joked that he was given the award so he would be obligated to reciprocate by providing those who selected him with Super Bowl tickets, which is not much of a stretch considering that Bloomberg owns the Super Bowl.

Bloomberg noted that the award could have gone to any of several other mayors who are considered the country's strongest environmental leaders. The mayors of Chicago, Seattle, and Miami were all singled out by name, but none of them has as much money as Bloomberg. The three of them combined don't have that much money. Actually, if you totaled the net worth of all the nation's mayors it would fall short of Bloomberg's net worth, which is why when the mayors get together at events such as this one and send out for coffee Bloomberg picks up the tab.

Mayor Bloomberg admitted that although he could well afford to buy the best ideas from other large cities—both in the U.S and around the world—he prefers instead to steal them and then work to push these ideas to the next level. And with Bloomberg's dough he can do a lot of pushing. For example, turning New York's fleet of cabs into hybrids would not only reduce C02 emissions by 50 percent, but would also save cab drivers about $5,000 a year, which is about what Bloomberg spends for a pair of socks, or perhaps for each sock.

Bloomberg's view is that innovative environmental policies also make good economic cents . . . ooops, make that sense. In his remarks, Bloomberg noted that, due to current market conditions, the stock market—which he owns—has lost more than all the gains it made in the last year. In addition, housing starts are at a 16-year low, oil is at $90 a barrel, food prices are up sharply, banks are turning to foreign funds to maintain reserves, and homeowners are defaulting at record rates. Of course, none of this affects Bloomberg because he's a multi-millionaire. The market could drop like a stone, housing starts could grind to a halt, oil prices could skyrocket to $900 a barrel, food prices could go through the roof, bank presidents could be standing in front of their banks holding tin cups and begging for change, and homeowners could default like there's tomorrow . . . and Bloomberg would still coast along without a care in the world.

In his remarks, Bloomberg quoted John F. Kennedy, who said, "The time to repair the roof is when the sun is shining." When you're as rich as Bloomberg, the sun is always shining. Of course, if you're as well off as Bloomberg, you've got a much bigger roof to fix.

According to Bloomberg, while cities tightened their belts in anticipation of worsening economic times, the federal government continued on a spending spree. In short, the feds did not save for a rainy day. The result? In Mike's words, no seed corn and no harvest. That's the surprising thing about Mike Bloomberg. He's an East Coast billionaire entrepreneur, and he talks like a farmer from Iowa. Ain't that sumthin'? Hee-haw!

The problem, as Bloomberg sees it, is that two things drive decisions in Washington: votes and campaign cash. Bloomberg says we, as a nation, can do better. In his opinion, we need to come up with common sense policies to deal with the multitude of issues facing the country.

An idea proposed by Bloomberg, as well as by other mayors, is to pump money into the economy in the short-term, and benefit the country in the long-term, by financing infrastructure projects that cities and states can't afford to fund. If Bloomberg had been on the scene, London Bridge would never have fallen down. And even if it had collapsed, Bloomberg would have flown in the best engineers and had it rebuilt lickety-split, sparing no expense.

Further, as a successful and experienced businessman, Bloomberg proposes establishing a capital budget for the federal government. According to Bloomberg, capital budgets are used routinely by mayors as well as most industrialized nations—but not by Washington.

What sets us apart from other countries, in Bloomberg's estimation, is our innovation. Bloomberg noted that we invented the telegraph and the telephone, and built an industry that began a communications revolution. The result? Bloomberg invested in telcom stock. Similarly, we invented the airplane and built an industry that began a transportation revolution. The result? Bloomberg invested in airline stock. And closer to Bloomberg's heart, we invented the personal computer and built an industry that began a technological revolution. The result? Bloomberg invested in computer stock. What a portfolio.

What we're talking about here is ideas, which are sometimes referred to as a dime a dozen, but which in reality could cost hundreds of millions of dollars a dozen. Maybe even more. Fortunately, ideas can come from many sources. Bloomberg stresses the need to tap knowledgeable individuals on both the left and the right who, regardless how wealthy they may or may not be. Rather than "a penny for your thoughts," the prevailing Bloombergian philosophy may be "a billion dollars for your thoughts." Chicken feed.

Bloomberg finally noted that a comprehensive immigration bill would strengthen the nation's economy. In short, we need to stop turning away people that we, as a country, need. And the immigrant population is comprised of more than just unskilled workers; rather, this group includes scientists, doctors, engineers, and—perhaps more importantly—innovators of every kind. That's where the big money is.

According to Bloomberg, for America to remain the world's economic superpower, we need to welcome the best and brightest from all over the world, especially those who flew first class. Bloomberg is optimistic about our ability to build a strong and stable economy, one where entrepreneurship is encouraged, there is freedom to innovate, opportunities are open to all, benefits are shared by everyone, families find economic security, and a man can still make a buck. Or two. Or three or four.

Arts & Culture      

Simply stated, rich people love art. And not the kind of art you find on a boardwalk, but art created by people you’re ashamed to say you never heard of. Rich people also like culture, which seems to bore those of us who are not wealthy... {click to see full article}

Simply stated, rich people love art. And not the kind of art you find on a boardwalk, but art created by people you’re ashamed to say you never heard of. Rich people also like culture, which seems to bore those of us who are not wealthy. It should go without saying that Mike Bloomberg enjoys both are and culture. One of his philanthropic endeavors and one of his initiatives as mayor is to force art and culture on those of us who are neither artistic nor cultured.

Environment & Sustainability      

It’s easy to face up to tomorrow’s problems today if you have money, like Mike Bloomberg. If you don’t have money you find yourself in a position of trying to face up to yesterday’s problems today. Or trying to face up to the day before yesterday’s problems... {click to see full article}

It’s easy to face up to tomorrow’s problems today if you have money, like Mike Bloomberg. If you don’t have money you find yourself in a position of trying to face up to yesterday’s problems today. Or trying to face up to the day before yesterday’s problems. Or the day before that. And many of those problems are environmental in nature. When all is said and done, it’s easy to be "green" when you open your wallet and find lots of green inside.

Reducing Poverty      

Reducing poverty is such a good idea it’s a wonder no one ever thought of it before. But thinking about it and doing something about it are two different things. Mike Bloomberg is doing something about the long-thought-to-be-unsolvable problem of reducing poverty by rewarding work and encouraging education... {click to see full article}

Reducing poverty is such a good idea it’s a wonder no one ever thought of it before. But thinking about it and doing something about it are two different things. Mike Bloomberg is doing something about the long-thought-to-be-unsolvable problem of reducing poverty by rewarding work and encouraging education. You can do things like that when you’re rich.

Affordable Housing      

Obviously, housing that is affordable to one individual is too pricey for another. On the other hand, it could be easily affordable for another . ... {click to see full article}

Obviously, housing that is affordable to one individual is too pricey for another. On the other hand, it could be easily affordable for another . . . so easily affordable, in fact, that this individual would opt to look for housing that is even more expensive. And that, in a nutshell, is the heart of the problem. Take Mike Bloomberg, for example. Most of us would be happy to live in Gracie Mansion. But not Mike. Instead, he lives in a townhouse on the Upper Eastside. But can you blame him? Who wouldn’t want to live there?

Illegal Guns      

There’s really not much that needs to be said here, other than to ask a simple question: Could there be a dumber way to spend money than buying a gun? ... {click to see full article}

There’s really not much that needs to be said here, other than to ask a simple question: Could there be a dumber way to spend money than buying a gun?

Fiscal Responsibility      

Well, who could be more fiscally responsible than a wealthy person like Mike Bloomberg? Funny thing is, with all his money, who could afford to be less fiscally responsible than Mike Bloomberg? Probably no one you know, or will ever meet. Mike’s background in finance and heading his own company enabled him to move the city from record deficits to record surpluses. Now the problem is deciding what to do with all that money.... {click to see full article}

Well, who could be more fiscally responsible than a wealthy person like Mike Bloomberg? Funny thing is, with all his money, who could afford to be less fiscally responsible than Mike Bloomberg? Probably no one you know, or will ever meet. Mike’s background in finance and heading his own company enabled him to move the city from record deficits to record surpluses. Now the problem is deciding what to do with all that money.

Job Creation      

Almost everybody has a job, and if they don’t have one, they want one. Some people even want two jobs. Well, they don’t want two jobs ... {click to see full article}

Almost everybody has a job, and if they don’t have one, they want one. Some people even want two jobs. Well, they don’t want two jobs . . . it’s just that one job doesn’t provide them with the income they need to buy things like food and shelter. If anyone knows how to create jobs it’s Mike Bloomberg. He came up with an idea, created a Fortune 400 company, hired lots of people, and then got himself another job a mayor of New York. Perhaps he’s one of those people who needs two jobs.

Public Health      

Some say money can’t buy you health. Well, they’re wrong. If you’re loaded, like Mike Bloomberg, you can take care of yourself better than if you were flat broke... {click to see full article}

Some say money can’t buy you health. Well, they’re wrong. If you’re loaded, like Mike Bloomberg, you can take care of yourself better than if you were flat broke. You can afford the best doctors. Of course, the problem with being wealthy is that you can afford to buy all the things that are not good for you . . . like rich food and exotic cigars and fast cars. But what’s the point of having all that money if you can"t live it up once in a while? Besides, to Mike Bloomberg universal health care coverage implies providing health care to the Milky Way.

Education      

Mike Bloomberg believes in the best education money can buy. In fact, he believes in the best everything money can buy. Without a good education it is not possible to add numbers, and adding numbers is very important when you’re rich... {click to see full article}

Mike Bloomberg believes in the best education money can buy. In fact, he believes in the best everything money can buy. Without a good education it is not possible to add numbers, and adding numbers is very important when you’re rich.

Bloomberg Seeks New Way to Decide Who Is Poor      

The federal government, which is supported almost solely by Mike Bloomberg’s tax dollars, relies on a 42-year-old Great Society formula to determine which individuals can be correctly classified as poor. Frustrated with this all but antiquated national method of calculating the poverty level, Bloomberg has asked his administration to develop a new measure, one that would, according to city officials, offer a more modern and accurate picture of poverty, one more precise than the notion that if you don’t drive a BMW you’re poor.

Mayor Bloomberg, a solutions-minded mayor (although solutions always seem to come easier when you’re a billionaire), wants to adopt the new measure in part so he can better assess whether the tens of millions of dollars, which is pocket change to the wealthy mayor, the city plans to spend on new anti—poverty programs will improve the standard of living of poor people. Fully one-fifth of New Yorkers live below the poverty level... {click to see full article}

The federal government, which is supported almost solely by Mike Bloomberg’s tax dollars, relies on a 42-year-old Great Society formula to determine which individuals can be correctly classified as poor. Frustrated with this all but antiquated national method of calculating the poverty level, Bloomberg has asked his administration to develop a new measure, one that would, according to city officials, offer a more modern and accurate picture of poverty, one more precise than the notion that if you don’t drive a BMW you’re poor.

Mayor Bloomberg, a solutions-minded mayor (although solutions always seem to come easier when you’re a billionaire), wants to adopt the new measure in part so he can better assess whether the tens of millions of dollars, which is pocket change to the wealthy mayor, the city plans to spend on new anti—poverty programs will improve the standard of living of poor people. Fully one-fifth of New Yorkers live below the poverty level. The other four—fifths live fairly well and in some cases very well, but nowhere nearly as well as Mayor Bloomberg.

The outdated federal poverty standard, which is pegged to the annual cost of buying basic groceries—but not groceries purchased at Balducci’s, obviously—is widely viewed as off—target. The formula was originally premised on the belief that groceries constituted one—third of a family’s expenditures. Thus, if a family were to spend $100 a week on groceries, its income—after taxes—would have to be in the neighborhood of $300, which is not a very classy neighborhood.

Due to mass production, food these days constitutes only about one—seventh of after tax income; therefore, the formula to determine the poverty level desperately needs to be modified. The formula proposed by the city—adjusted for these lower food costs—would take into account the money families must spend annually on necessities, such as rent, utilities, and, in the mayor’s case, caviar and champagne. But it would also take into consideration the value of financial assistance received by low—income families; for example, housing vouchers or food stamps, neither of which are edible.

According to the director of the children and families program at the National Conference of State Legislators, which provides research to state legislators and policy makers, there is widespread dissatisfaction with the current standard. Hence, the city’s efforts to update the formula are attracting attention.

The city plans to invest about $150 million, mostly from private funds and money found under the cushions of the mayor’s sofa, to help the poor. Hopefully, the city’s efforts will provide a model for other cities struggling with poverty and not fortunate enough to have a billionaire mayor.