The Golden Age Of New York City Was...the 1970s? - WSJ

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/SB110506216012319725 By Daniel Henninger Jan. 7, 2005 12:01 am ET This past Sunday a New York Times feature in its City section asked famous New Yorkers to identify New York's golden age. At least four identified the 1970s as the golden age. This is worth notice because in the 1970s banks said New York had spun its credit rating into dross and refused to lend more money to a city whose accumulated deficit reached $8 billion. Today its budget office reports that starting in FY2006, per-annum deficits for three years will be $3.7 billion, $4.5 billion and $3.7 billion. There is a mayoral election this November when we'll get the opinion of all New Yorkers on the city's curren

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/SB110506216012319725 By Daniel Henninger Jan. 7, 2005 12:01 am ET This past Sunday a New York Times feature in its City section asked famous New Yorkers to identify New York's golden age. At least four identified the 1970s as the golden age. This is worth notice because in the 1970