STIMULUS PACKAGE AIN'T A PANACEA

New York City Comptroller William C. Thompson, Jr. issued the following statement regarding the federal stimulus bill signed by President Barack Obama today:

Today's stimulus bill - while not a panacea for all of our city's economic ills - should go a considerable distance toward staving off harsh actions to close our budget gaps. An infusion of dollars directed towards our education and transportation needs will mean a diminished threat to our quality of life and teacher and uniformed services layoffs, and, hopefully, improvements to our mass transit infrastructure.

I applaud President Obama and the United States Congress, particularly our New York delegation led by senior members Senator Charles Schumer and Congressman Charles Rangel, for identifying the needs of our country and our city. It is incumbent on all of us, however, to diligently ensure that these dollars are not wasted or manipulated, and are spent wisely and with the utmost of transparency.

# #