The Times likes Bloomberg’s latest budget, and rightly so. Unlike his predecessor, this Mayor is not leaving his successor with a fiasco. The proposed budget attempts to live within the means of the City, which is sure to upset many in the short term but benefit the city in the long term.

One reason that I have always liked Bloomberg was his willingness to put forward a draconian budget in his first year. It was necessary, given the recession at the time (in retrospect a mild one) and the economic fallout and uncertainty following 11 September. That year of budgetary pain (along with a string of external factors) helped to put the City in the position to enjoy five years or so of healthy budget growth.

Contrast the Bloomberg approach with that of the national Republican party (remember Bush’s trifecta?), and the notion of Republican fiscal responsibility is quickly exposed for the joke it is.