Labor pain

In February, when there were 4 million jobs in this city, Mayor de Blasio, whose spending since 2014 has been more than triple the rate of inflation, presented a municipal budget of $95 billion. The coronavirus then claimed a fourth of the jobs, and the budget fell apart. Despite being trimmed back to $87 billion, there is at least $9.5 billion in missing revenue this year and next.

What’s unchanged is the city government workforce of 330,000. Unlike in the private sector, no one has been let go, no one has had a pay cut, no one has been furloughed and no one has had hours reduced. Their pay raises are still happening, their generous health plans have been untouched and their government-guaranteed pensions remain as good as gold.

Just a week before he’s legally bound to enact a balanced budget for fiscal year 2021 starting July 1, the mayor is finally asking labor to chip in and come up with $1 billion in savings as he hunts for another billion in spending cuts.

Washington should help rescue New York, but that’s just not happening. Nor has the Legislature given the city permission to riskily borrow to cover operating costs.

An embarrassingly reactive de Blasio should’ve asked public sector workers to step up months ago, but late is billions better than never.

If savings can’t be found, 22,000 layoffs will be necessary. That’s no threat; it’s math. Everyone sacrifices a little or a few sacrifice a lot. Which will it be?