In his weekly appearance on John Gambling’s radio show this morning, Mayor Michael Bloomberg weighed in on City Council Speaker Christine Quinn’s living wage bill. Mr. Bloomberg compared the bill, which would raise worker wages at city-subsidized developments, to the economic policies of the former Soviet Union and vowed to fight the measure with a veto and, if necessary, a lawsuit.
“If you think about it, the last time we really had a big, managed economy was the U.S.S.R. and that didn’t work out so well,” Mr. Bloomberg said. “You cannot stop the tides from coming in. We need jobs in this city. It would be great if all jobs in the city paid a lot of money and had great benefits for the workers, not good for the employers, but if you force that, you will just drive businesses out of the city.” Read More