Opinion
By Eric J. Gertler
NY Daily News
|   December 23, 2018

Brother, can you spare a few billion? Adding up New York City’s pressing, and very costly, needs

The Depression-era song “Brother, Can You Spare a Dime?” was written not to depress, but to provoke.

It questions how we could abandon our citizens after they built the nation, including the railroads and the skyscrapers, fought in wars and did what was asked of them.

With the holidays fast approaching, it’s time to ask a version of the question again, as we compile a not-at-all-small holiday wish list for New York City and its citizens.

Begin with NYCHA, where the city has definitively failed the 400,000-plus public housing residents, too many of whom are living in miserable conditions. Many live in mold-infested apartments with crumbling walls and leaky pipes and are now likely to endure another cold winter without sufficient heat or hot water.

Without a significant cash infusion over the next few years, 90% of NYCHA’s units may deteriorate to a level that would make it impractical to undertake repairs.

Brother, can you spare at least $32 billion for NYCHA?

New Yorkers are also commuting on a transportation system, most of which was conceived more than 100 years ago when the city’s population was a fraction of the 8.5 million who now live here. The system is running way beyond its capacity levels; it will only get worse when the L train temporarily shuts down next year.

The Transit Authority’s chief wants to fix the subways and close its current budget gap.

Brother, can you spare another $40 billion?

The Gateway Program is the phased expansion and renovation of the existing Hudson River tunnels and rail between New Jersey and New York City. These lines are not currently operating at full capacity and also suffered from major damage caused during Hurricane Sandy.

The project has been designated a federal priority but critical construction on the tunnel portion has yet to begin and awaits final funding. A collapse of this network would bring gridlock to the New York region and devastating economic consequences.

Brother, can you spare $24 billion?

Advocates and educators seek to upgrade our public school facilities. They want to make far more of them accessible to kids with disabilities, add seats in schools to alleviate overcrowded classes, improve classroom conditions and expand services for homeless students.

The chancellor’s recently proposed capital plan will cost more than $15,000 for each of the city’s 1.1 million school kids over the next 5 years.

Brother, can you spare $17 billion?

Our city pension plans are significantly underfunded. The extent of the actual unfunded pension liabilities depends on the approach used and the assumed average of the investment return. Annual budgeted pension costs have risen to over $9 billion, with a majority of the contributions paying down pension debt as opposed to new benefits.

Even with such increases, the city remains vulnerable to a pension funding crisis within the next decade. These rising costs also preclude spending on other necessary city programs and social services.

Brother, can you spare $142 billion (Manhattan Institute’s estimate)?

Then there are lower-cost goodies, maybe for the stockings over the fireplace: an increase for permanent shelters for the growing homeless population; a massive training program to ensure workers have the right skills for the 21st century; affordable housing for the needy; and a serious upgrade of scanners and other voting equipment after the fiasco in the last election.

We should at least give thanks for recent investments at our airports and in new bridges.

This wish list of $250 billion and counting represents decades of deep failure to invest in our future.

Brother and sister, can you spare more vision, courage and creativity in order for our city to maintain its status as the leading, equitable growing urban environment in the 21st century?

Gertler is chairman of U.S. News & World Report. Views expressed herein are entirely his own.