Regardless of who wins NYC’s mayoral election on Tuesday, the city’s governing model has already set the city in a spiral of decline. Its biggest employment gains are in government jobs and health care, which are ruled by government dictates. Its financial sector is shrinking. What America’s biggest city urgently needs are a slate of pro-growth policies.

During this government funding dispute, Trump and the Republicans in Congress have as the Economist magazine reports:

The share of New York City’s workers employed in finance and insurance has been in decline for years, falling from 11.5% in 1990 to 7.7% in August.  Of the 233,000 jobs in the industry created in America over the past five years, the state of New York secured only around 19,000, behind Texas, Florida, North Carolina and Georgia. JPMorgan, its vast new skyscraper notwithstanding, employs more people in Texas than New York.

Why is the city’s financial pre-eminence slipping?…. A double-whammy of high costs and heavy taxes. New York state’s corporate income tax, at 7.25%, is not especially burdensome. But the city, unusually, piles its own corporate income tax on top, as well as a levy for the regional transport network, leaving some local businesses paying more than 18% in local taxes alone.