A prominent observer of New York City and New York State finances last week blasted both city and state leaders for mismanaging their fiscal affairs and burdening future generations with higher taxes and fewer job opportunities.

In a 34-page report, the Citizens Budget Commission, a nonprofit group financed by local businesses, said the budget problems found in both city and state government are the direct result of politicians "ducking hard choices and thereby inflicting unnecessary hardship on current and future New Yorkers."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.