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In New Forecast, New York City Projects $2.9 Billion Deficit

The stock market’s weak performance is projected to cost the city billions of dollars in pension fund obligations in the coming years.
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Facing growing pension costs and stiff inflation, New York City officials on Tuesday projected that the city’s budget deficit would shrink to $2.9 billion next year after recent belt-tightening efforts, before ballooning again in subsequent years

The grim forecast was not unexpected: For months, Mayor Eric Adams’s administration has been tracking various economic indicators that suggest the city’s economic underpinnings are shaky.

Officials a drop-off in business and personal-income tax revenue. They have warned that reaching new labor settlements with the city’s unionized work force could add yet substantial new stress to the budget, even as an underperforming stock market requires the city to contribute more to its pension funds.

With that in mind, the mayor in September demanded that his agencies cut city-funded expenses by 3 percent this year, and 4.75 percent the next. The effort reduced the current fiscal year’s budget gap by nearly $1 billion and will cut future deficits even further.
But the gaps remain large: City officials disclosed on Tuesday that they were now projecting a combined budget gap of $13.4 billion for the next three fiscal years, compared with the $12 billion the city projected in June.

City Hall attributed those increased out-year gaps in part to the stock market’s weak performance.

The city faces significant economic headwinds that pose real threats to our fiscal stability, including growing pension contributions, expiring labor contracts and rising health care expenses — and we are taking decisive actions in the administration’s first November Financial Plan to meet those challenges,” Mr. Adams said in a statement.

The city’s worsening economic conditions come at an inopportune time for the mayor, who is finishing up his first year in office at the helm of a city struggling to emerge from the pandemic, and afflicted by a so severe that the state comptrol warned it could affect “critical and essential services for our children and most vulnerable residents.

City officials said that no layoffs were necessary, adding that the administration’s ongoing efficiency efforts would cut $1.6 billion from next year’s budget, and $1.5 billion the year after that. But those savings will be outpaced by the growth in pension costs starting in 2025.
“Short-term savings should never give people solace when you see the long-term situation getting worse,” said Andrew Rein, president of the Citizens Budget Commission.

Though the original savings mandate warned that noncompliant agencies could be subject to hiring freezes, not every agency complied, and none were penalized.

The New York Police Department only achieved 41 percent of its two-year savings targets, city officials said Tuesday. The Department of Sanitation achieved only 39 percent. And the Fire Department achieved 98 percent.

Mr. Rein said the city achieved its sought-after savings largely through re-estimates of projected spending, rather than making more lasting structural changes.

The Adams administration, for example, has signaled ambivalence about its commitment to That is reflected in the budget modifications, which show a nearly $600 million savings next fiscal year achieved through “right sizing.

City officials said they originally projected they would need 61,000 seats in future years for the prekindergarten program, something they now consider unrealistically high. Though there are wait lists in some neighborhoods, the program is currently serving only 36,000 children, and in coming years, the city estimates it will need only 55,000 seats.

Nevertheless, the right-sizing plan earned a rebuke from the New York City Council.
“Early childhood education programs, such as universal 3-K, are pivotal to the economic success of our city and must be a priority in which to invest,” Adrienne Adams, the Council speaker, and Justin Brannan, the finance chair, said in a joint statement on Tuesday.

Similarly, the city is cutting costs by trimming about $12 million from the or B-Heard, which dispatches specialists to 911 mental health calls.

City officials said the program was not spending its existing budget and that it was able to cover the same service area with fewer teams.

But Jordyn Rosenthal, the advocacy coordinator for Community Access, a supportive housing nonprofit, said the city risked undermining the program.

All of the trends are going in the wrong direction,” she said. “When the program first started, response times were under 14 minutes and now they’re over 18 minutes. And potentially, why that is happening is that there are longer wait times because there aren’t enough teams to respond.”

Mr. Brannan and Ms. Adams quibbled with some of the city’s findings. They noted that the city is not accounting for tax collections from the last fiscal year that came in roughly $1 billion higher than expected — calculations that the city considers premature, even as it did include $1 billion in federal funding for migrants that it has yet to formally apply for.

yes, the inflationary headwinds that we’re facing are real and they’re going to squeeze our budget and for the first time in a generation, we’re going to have to adapt a budget to a significant level of inflation,” Mr. Brannan said in an interview. “But right now, the money is still coming in.”

Once the city releases the formal budget modification documents, the City Council is expected to hold a hearing and a vote on the matter.

News

Tattoo Artist, Entrepreneur, and Oil Painter Kirby van Beek Makes a Mark in the Industry

Kirby van Beek, a talented tattoo artist, entrepreneur, and oil painter, has emerged as a prominent figure in the world of tattooing, showcasing his expertise in black and grey realism. Known for his distinctive designs and captivating portraits with a dark twist, Kirby has established himself as a highly regarded artist, earning recognition both locally and internationally.

Kirby’s journey as a tattoo artist began at the age of 18 when he taught himself the art form while simultaneously pursuing his education in forensic science. During this time, he displayed unparalleled dedication, working at a morgue during the week and honing his tattooing skills during weekends and spare hours. Kirby’s passion for tattooing led him to work at various tattoo studios in the Netherlands, solidifying his experience and expertise in the field.

About Kirby van Beek:

Kirby van Beek is a talented tattoo artist, entrepreneur, and oil painter based in [City]. Renowned for his expertise in black and grey realism, Kirby’s distinctive designs and captivating portraits with a dark twist have earned him a prominent position in the industry. With a passion for tattooing and oil painting, Kirby aspires to become a globally recognized artist, leaving a lasting impact on the world of art.

«The things I love most about tattooing is meeting different clients and getting to know them on a personal level during a long tattoo session,» says Kirby. «There is nothing more rewarding than tattooing individuals who appreciate my art so much that they choose to wear it on their skin for life.»

Specializing in realistic black and grey tattoos, portrait tattoos, and horror tattoos, Kirby’s work has garnered attention both nationally and internationally. His talents have been showcased at several tattoo conventions abroad, and his captivating designs have been featured in prominent tattoo magazines. Additionally, he has been recognized by esteemed publications such as LINDA magazine in the Netherlands and the local newspaper BN de Stem. Furthermore, Kirby’s exceptional skills led him to participate as a tattoo artist in the Dutch version of MTV’s Just Tattoo of Us.

Looking ahead, Kirby aspires to become a world-renowned tattoo artist and oil painter, with a particular focus on portrait tattoos and dark horror tattoos.

His ultimate goal is to reach clients and famous individuals around the globe, sharing his unique artistry and leaving an indelible mark on the industry. In the future, Kirby envisions opening an art show to showcase his diverse body of work.

To learn more about Kirby van Beek and explore his captivating portfolio, visit his official Instagram page (@kirbyvanbeek) or his website www.the-continental.nl.

News

DJ Khenya Takes Center Stage at Blue Marlin Ibiza, Spreading Joy and Connection

The music of DJ Khenya pulsates with rhythm and emotion. A rich mélange of sun-kissed sounds that blend percussive beats with indie and deep house. The artist’s journey to Ibiza has laid the foundation for a musical expression that communicates joy and connectivity. Taking the reins at Blue Marlin Ibiza, Khenya’s vibrations will inspire dance floor dreamers to move and let go.

From the stage at Blue Marlin Ibiza, DJ Khenya has shared experiences alongside some of the most influential names in the music industry. When asked about the impact of these experiences, the artist responded humbly: «The truth is I feel lucky. I have total admiration for them as they are a source of inspiration for me.»

The energy at Blue Marlin Ibiza is unlike any other, according to DJ Khenya. He describes the place as «a life experience,» synonymous with summer and with all the ingredients to feel in a state of bliss when you’re there. He thanks the team for being like a family to him and for everything they’ve done.

This summer, DJ Khenya will take his audience on a journey filled with unforgettable emotions. He comments, «My goal is to transmit uplifting and unforgettable sensations. My audience is what sets my heart on fire, and I want them to feel my desire to make them dance.»

The path that led DJ Khenya to become a DJ began in Havacia, Cuba, where he grew up in an environment where rhythm, dance, and poetry are like the air we breathe. With son and salsa running through his veins, his first experience at an electronic music party in the early 2000s marked a shift in his life. Khenya recalls hearing ‘The Underground’ by Celeda and says, «It was a different Cuba, and I loved it. I think from that moment, something changed inside me. A seed had been planted, and life would take me in that direction.»

Having traveled the world and now based in Ibiza, DJ Khenya reflects on how these experiences have shaped his identity as an artist. He comments, «Traveling the world is a privilege that every human being should have, especially an artist because when you have these experiences, you can understand different ways of life and the musicality of each place. Creativity is born from that knowledge, and I still have a lot to learn in that sense.»

This summer, DJ Khenya promises to take Blue Marlin Ibiza to new heights with his unique music and his desire to make everyone dance. The experience is guaranteed to be a celebration of life, joy, and connection through music.

News

Oliver Rouz: Weaving Ink and Inspiration into a Legacy

Born on February 13th, 1988, Oliver Rouz’s path to success is one marked by determination, passion, and the pursuit of creative endeavors. From a young age, Oliver exhibited a profound love for various forms of creativity, which ultimately led him to become one of the country’s most celebrated tattoo artists.

During his school years, Oliver’s artistic talent set him apart. His favorite cartoon characters became his canvas as he tirelessly recreated them in his own style. However, drawing was merely a pastime during his teenage years, a source of pleasure until music took center stage in his life.

In 2005, Oliver formed the «Fairy Tale Jelissa Rose» band, a pivotal moment that expanded his horizons. Immersed in the music community, he developed a newfound fascination with tattoos and ink artistry, spurred by the band’s association with the tattoo culture.

A serendipitous encounter with Artem at the «Quick Silver» shop in Moscow in 2010 marked a turning point. Artem’s influence led Oliver to consider a life-altering decision. By 2012, Oliver, now ignited by a passion for tattoos, made a bold move to another city, all while nurturing his tattoo aspirations.

Artem’s transformation into a tattoo artist himself inspired Oliver further. As fate would have it, an opportunity arose in 2012 for them to collaborate and open their tattoo studio in Moscow. This venture required Oliver’s dedicated efforts, alongside his commitment to saving funds to fuel their creative endeavor.

Oliver’s tattooing prowess flourished within a year, prompting a return to his hometown to establish several home-like studios. Yet, he recognized that true growth beckoned him back to Moscow. Thus, in 2017, he joined Good Hands Tattoo, laying the foundation for his continued ascent.

Oliver’s indomitable spirit and devotion to his craft bore fruit, as evidenced by his stint at Black Point studio, born out of a collective dream. His trajectory exemplifies the power of dedication, leading him to become a recognized tattoo luminary within the nation.

Oliver’s journey, however, extends beyond tattooing. From his early affinity for music, highlighted by the formation of his punk rock band at 14, to his involvement in the music industry and flirtation with global recognition, his story embodies the resilience required to navigate creative industries.

A pivotal moment arrived in 2021 when Oliver, undeterred by previous setbacks, chose to channel his creative energy into designing game art. Leaving behind a stable job, he invested his savings of around $5,000 to embark on a transformative journey. Guided by Hexeth’s interview and tutorials, Oliver delved into the realm of game design.

Fueled by dedication and a newfound purpose, Oliver’s creative expression culminated in designing elements for popular games like CS:GO and RUST. Through unwavering commitment and rigorous self-education, he harnessed the potential of his artistic flair.

Today, Oliver Rouz’s name resonates as a testament to the potential of human determination. His path from a young artist with a penchant for creation to a revered tattoo and game artist serves as an inspiration to countless dreamers. Oliver’s legacy continues to evolve, as he pushes the boundaries of his craft and inspires others to chase their passions unrelentingly.

For more information and to view Oliver’s work, visit his Instagram profile: @oliverrouz.