A scathing report from New York City Comptroller Bill Thompson. He says federal aid to New York in the aftermath of the Sept. 11 terror attacks could fall short of the money pledged by President Bush by billions of dollars. Why and how could this happen?• Click here for pics
A scathing report from New York City Comptroller Bill Thompson. He says federal aid to New York in the aftermath of the Sept. 11 terror attacks could fall short of the money pledged by President Bush by billions of dollars. Why and how could this happen?
Last year, President Bush promised more than $21 billion for rebuilding New York City. Yet the city comptroller says in a new report:
"... as much as $3.7 billion - approximately 18% of the total federal pledge - may not be realized."
Democrats today urged the president to make good on his pledge.
Congresswoman Carolyn Maloney, (D) New York: "He pledged to do whatever it takes to help New York City, and made a committment of $21.4 billion. We need to see that money, not in Washington, but in New York. "
While New York City waits for its money, the local economy still suffers. The comptroller's report says,
"... the City has lost 163,000 jobs since Sept. 2001. The longer funding is delayed, the more it is at risk."
Bill Thompson, NYC Comptroller: "Clearly if dollars would have gotten here quicker, it might have aided the city's even faster. So at that point those are things you would have hoped for, if dollars had gotten here even faster."
The mayor also wants federal money faster, but to complain would be to pit Republican against Republican. And so today, Bloomberg predicted we'll get the money soon enough.
Mayor Michael Bloomberg: "Given the normal requirements to document, and to make requests, and you get money when you need it ... they don't hand you $20 billion in small, unmarked bills."
Virtually everyone agrees, both Republicans and Democrats, that eventually New York will get $17 billion out of that $21 billion. It's that remaining $4 billion that has everyone hoping and waiting.
