A GREAT FINANCIAL MANAGER—FOR THE RICH

THE BLOOMBERG SPIN

Mike has taken steps to stabilize New York’s budget by addressing long-
standing financial issues.

THE FACTS

Bloomberg's 2008 budget was nearly 45% larger than the last Giuliani
budget in 2001. By 2008, Bloomberg had increased operating
expenditures from $43.6 billion to $65.3 billion, a total increase of 50
percent. Total debt outstanding will be over $100 billion by fiscal year
2012. It was $56 billion when Bloomberg took office. Our local taxes are
more than twice the national average. The tax burden is higher than when
he took office.

WHAT DID WE GET FOR THE DEBT AND HIGHER TAXES?

Bloomberg gave developers billions of dollars in taxpayer money and

“we” got three new sports stadiums that we can’t afford to attend and a
ton of luxury condos that only the rich can live in.

Our streets, subways, bridges and tunnels are in worse shape than when
he took office.

WHAT DID HE KNOW AND WHEN DID HE KNOW IT?

Many analysts warned of the meltdown well before 2007, He pushed for
less regulation. Wall Street made a bundle. The economy collapsed and
many New Yorkers lost their life savings.

BLOOMBERG’S FORTUNE GROWS—OUR INCOMES SHRINK

THE BLOOMBERG SPIN

NEW YORKERS, LET’S TAKE OUR CITY BACK.
Bloomberg works for a dollar a year and takes the subway to work. He’s
VOTE FOR BILL THOMPSON, DEMOCRAT made great personal sacrifices for New York.
THE FACTS
Most moguls held onto their mansions and private jets but even they lost
money in the current meltdown. When he took office, Bloomberg was
worth $4.8 billion. Now? More than $17 billion.
Time Warner Cable was operating on a temporary permit that expired on
March 16, 2009. On March 12th, the Bloomberg Television network
moved from channel 104 to channel 30. The move was worth many
millions to Bloomberg. It hasn’t happened in any other city. Time
Warner now has a renewal agreement. Go figure.
BLOOMBERG BOUGHT TWO POLITICAL PARTIES
Bloomberg gave the Republican and Independence Parties $1,250,000
for his third term run. This money is in addition to the tens of millions
he’s given them before the latest payoffs. Both parties gave him their
lines on the ballot. Go figure.
BLOOMBERG’S WAR ON THE MIDDLE CLASS
THE BLOOMBERG SPIN
Check out our new television ad. It focuses on the Mayor’s innovative
pro-growth plans to fix the economy, help the middle class and create
jobs. Mike knows you can’t have a strong city without a strong middle
class.
THE FACTS
The middle class is being driven out of the City. Manhattan is by far the
most expensive city in the United States. The cost of living is more than
twice the national average and much higher than San Francisco, the
second most expensive city. Queens is more expensive than all but four
of the 315 major urban areas. Brooklyn is at least as expensive. Bronx
and Staten Island are well above the national norm.
THE AFFORDABLE HOUSING MAYOR?
THE BLOOMBERG SPIN
Mike started the largest municipal affordable housing program in the
nation. When complete, this bold initiative will have provided affordable
housing for half a million New Yorkers. Since Mike took office, nearly
94,000 units of affordable housing have been completed.
THE FACTS
Since Bloomberg appointed the notorious Marvin “Markup” Markus, a
Goldman Sachs investment banker, to chair the Rent Guidelines Board,
rents have skyrocketed. Only 10.6 percent of housing in the metro region
is now affordable to people earning the median area income, the lowest
share of anywhere in the country. Our rents are the highest in the nation.
THE BLOOMBERG SPIN
“Mike is also protecting existing affordable housing and improving
housing conditions. His administration has brought tenants and
landlords together to keep more than 21,000 apartments from exiting the
Mitchell-Lama program, one of the most effective middle-class housing
programs in the city's history.”
THE FACTS
At least 96,187 rent-stabilized, once affordable apartments have been lost
under Bloomberg. That number is the floor. Technical and reporting
issues make it difficult to determine how many more have been lost.
Learn More About The Spin v. The Facts – about how Bloomberg has
given our public parks to developers, trampled on our civil liberties,
destroyed our neighborhoods, opposed gay rights, and much, much
more. www.fedupnewyorkers.org and www.bloombergwatch.com
Let’s make sure Bloomberg hears us on November 3.