It's time to sound the alarm on the City's looming budget gaps. In this Crain's Op-Ed published yesterday, CBC President Andrew Rein and New York State Comptroller Tom DiNapoli warn that the gaps "will have serious consequences for New Yorkers, unless action is taken now."

While the influx of migrants has certainly been a fiscal strain, the biggest force widening the gaps has been increased City spending—much of it not tied to a reliable funding stream. "Despite the urging of our offices, few efforts have focused on increasing efficiency or shrinking lower impact programs, which could have allowed ongoing revenue to be sufficient to avoid future cuts....The challenges are real, the solutions tough, but a path is at hand. It relies not only on the hard work of management and labor, but also on a transparent, sober discussion of program priorities, impacts, savings efforts, and costs....Those preferring to avoid major steps like these are inadvertently harming the city’s capacity to serve those in need in the future."