|"You didn't build it"|
Despite the fact that NYC has a relatively modest unemployment rate of 9.9% the city seems to be struggling with rising costs.
Higher costs make it hard for businesses to stay open, because their customers just can't pay the higher prices.
The latest victim of President Obama's economic policy was the famed NYC landmark restaurant The Stage Deli, who closed their doors last week after being in business for 75 years.
The Stage Deli told us they just couldn't keep up with rising costs, and had no choice but to shut down. "We sell a very nice corned beef sandwich for only $23 and some people felt it was too much to pay for a sandwich and a pickle" one of their managers told us. "It even comes with a small side order of cole slaw. At that price, it's a real bargain here in NYC."
New York City is unlike most places in the country. Prices are so high here that you could qualify for food stamps if you earn less than $89,000 a year. A modest one bedroom apartment in NYC will often rent for $5,000 a month, A hot dog and a can of soda can cost as much as $8 from a street vendor.
Both the wealthy and the poor New Yorkers don't seem to mind the high prices, and they continue to support the Obama policies of higher taxes and spending. Obama carried NYC with a whopping 80% of the votes in last month's election.
|Don't forget the Parking Tax|
NYC Mayor Michael Bloomberg has been hard at work making the city a nicer place for it's residents by banning smoking, sugar, salt, transfats and large servings of soft drinks.
"The city needs to be a great place for both rich people and poor people" he told us. "All the middle class can just move to New Jersey if they don't like it here."