Rep. Talks Economy, Bailout At M.V. Meet

Rep. Anthony Weiner (at right) was welcomed by Middle Village Property Owners/Residents Association President Salvatore Candela to the civic group's Dec. 8 meeting at St. Margaret's parish hall. The state of the American economy was the focus of Rep. Anthony Weiner's appearance at last Monday's Middle Village Property Owners/Residents Association meeting at St. Margaret's parish hall.

Weiner also explained his support of the proposed $15 billion bailout of the nation's three major automakers—Chrysler, Ford and General Motors—that was approved by the House on Wednesday, Dec. 10 but defeated in the Senate the following evening.

Two incoming elected officials— State Sen.-elect Joseph Addabbo and City Council Memberelect Elizabeth Crowley—also dropped by the Dec. 8 session to talk about some of the issues they will handle upon taking office in January, including budget cuts, a possible fare hike and local rezoning.

Reaping what was sowed The economic collapse that began earlier in the fall was the result of a "combination of factors" that came about due largely to a lack of regulation, Weiner said. Among the problems he cited were the issuing of loans to people who couldn't afford to repay them, the purchase and sale of overrated bad loans between financial institutions and federal regulators ignoring the signs of economic trouble.

"There were irresponsible citizens doing irresponsible things," the congressman lamented. "Now we're left with the predictable outcome."

As for resolving the financial turmoil facing the nation, "we're left with bad options," Weiner noted. Citing the sub-prime mortgage crisis as an example, he stated that while he felt little sympathy for bad financial choices that led to foreclosure, the public could ill afford to allow indebted borrowers to lose their homes.

"But then there's the tougher question: do I want someone going bust on the same block where everyone played by the rules, and having everyone's property values drop by 40 percent?" the congressman stated.

American automakers are also reaping years of bad decisions made on their part, Congresssman Weiner observed. While many may be opposed to the federal government providing them with billions of dollars in aid, he stated that the consequences faced by car owners and the nation would be worse if all three companies were allowed to fail.

"You could let the auto industry go bust. They make up about a third of our industrial base," he said. "If you own [a car] with a warranty, suddenly it's not worth the paper it's written on."

Any government bailout of the auto industry should contain provisions requiring that the nation be paid back first before any dividends are disbursed to stockholders, Weiner said. The Big Three should also be mandated to allow for "some transparency" to ensure the government and the public that they are changing their business practices for long-term sustainability.

The congressman also proposed that the federal government should encourage spending among Americans by offering a $5,000 voucher to every taxpayer toward the purchase a fuel-efficient or hybrid automobile produced in America by either Chrysler, Ford or GM.

Despite the dismal economic times, there are "reasons to be optimistic," Weiner said, referring to a proposed spending program to rebuild the nation's infrastructure. While the bill would likely be passed to future generations, he observed that it would not go for naught as it would provide for better roads, schools and utilities.

When asked by former MVPORA president Michael Roemmelt about his future political plans, Weiner acknowledged that he is making another run for mayor in 2009. He charged that the middle class and outer boroughs of the city have become "an afterthought at City Hall" of late and vowed, if elected, to change that mindset.

Plans for city, state budgets While thanking those that sup- ported him in the general election, Addabbo also reached out to those who voted for his opponent, outgoing State Sen. Serphin Maltese. He called on all to work together to help the state and city climb out of the tough times ahead.

"We as New Yorkers have faced the hardest of times," he said. "The way we do this is by working together. Regardless of your party affiliation, regardless of whether you voted for me or not, it is obviously time to work together."

With his tenure as City Council member coming to a close, Addabbo noted that one more vote remained: a modification of the current city budget, which calls for further reductions in spending. Following that, he then heads to Albany, where lawmakers will address an expected $15 billion shortfall in the next state budget.

On the city level, the state senator elect vowed to resist any changes to programs offered for senior citizens, including the closure of senior centers and the delivery of frozen meals. "We will never, or should we ever balance the budget on the backs of our seniors," he added.

While working to reduce spending in the state budget, Addabbo also promised to seek the city's fair share of funding, adding that it would go a long way toward resolving some of the current economic woes facing the city. Still, he acknowledged that "there will be cutbacks."

Despite claims by the Metropolitan Transportation Authority that a fare hike and the installation of tolls on all East River crossings was needed to address its own budget woes, Addabbo expressed his skepticism about their plans.

"I'm not convinced that the MTA needs this money," he said, noting that the authority has yet to announce any restructuring plans to trim its administrative spending. "The way they do math is different than the way we do math," he added. "They need to cut internally first."

When asked by a resident about his stance on gay marriage, State Sen.-elect Addabbo declined to offer an official position, noting that the state must first address more serious issues related to the economy.

Rezoning, Glendale ZIP code

Having defeated outgoing City Council Member Anthony Como, Crowley noted that she will take the legislative seat effective on New Year's Day. The office will once again be on the ballot in next year's general election.

The Council member-elect updated residents regarding the stalled rezoning plan for parts of Glendale, Maspeth and Middle Village. In talks with Department of City Planning officials following her election, she noted, the agency is working to have the plans ready for public review by early 2009.

"I told the Department of City Planning that I want certification in the early part of next year," she said. "This way we can prevent so much of what is continuously happening in our neighborhood, and that is overdevelopment."

As for the MTA's budget shortfall, Crowley suggested that the authority cut "budget waste" before requiring an additional fare hike or implementing new tolls. She also pledged to fight any new taxes, adding that city residents are currently "taxed far too much."

She also noted that she is working with Weiner to establish a separate ZIP code for Glendale: "It's a high priority. Glendale needs its own identity. We will have it resolved."

Holiday party

Following the meeting, MVPORA President Salvatore Candela invited all in attendance to take part in the group's holiday party, which included free food, refreshments and a raffle.

The Middle Village Property Owners/Residents Association generally meets on the second Tuesday each month at 7:30 p.m. at St. Margaret's parish hall, located on 79th Place off Juniper Valley Road.