Mayor Cautions Against Selling Subway System
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Mayor Bloomberg argued yesterday that the city’s subway system should not be sold to the private sector, as he jumped into a larger debate over the possibility that the state would sell off public properties as a way to save money in the face of widening budget deficits.
At a press conference in Staten Island, Mr. Bloomberg cautioned against turning to private companies as a solution to the state’s budget woes — a specter raised by Governor Paterson this week — saying that while he is a “very big believer in the private sector, it is not a panacea for all things.”
“It will not save you, necessarily, a lot of money,” he said.
The mayor, who spent his career in the private sector as a businessman before running for public office in 2001, said that before public officials turn over government services to private companies, they need to decide whether to give those companies free rein over the running of programs.
He said he didn’t think the state would agree to arrangements that would be enticing to the private sector.
“You could get somebody to do it, but they wouldn’t save you very much money because the potential for making a lot of money isn’t there,” he said.