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Just a ‘lull,’ Golden says - Incumbent is upbeat on dismal economic outlook

The Brooklyn Paper
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Economic hard times were the subject when Republican State Senator Marty Golden stopped by at a recent candidates’ forum.

Running unopposed for the second time straight, Golden took the opportunity to comment on the straitened financial circumstances that the city and state are likely to endure in the near future.

“It’s said that if this nation sneezes, the world gets a cold,” Golden remarked, two days after the House of Representatives narrowly voted down a $700 billion bailout package, and the stock market plunged 778 points. “Right now, we have to prevent the world from getting pneumonia.”

Golden told the crowd gathered at Sirico’s Caterers, 8023 13th Avenue, for the forum sponsored by the Bay Ridge Real Estate Board, that, in his view, “This city and this state are going to be severely impacted” by the dramatic downturn on Wall Street.

“We’re talking about tens of billions of dollars,” Golden stressed, pointing out that the state had already been facing a deficit of between five and 10 billion dollars, and the city a multi-billion dollar deficit as well.

“That’s going to have to be made up by cuts to services,” Golden warned, adding, “God willing, there are no layoffs. Right now, I don’t see the economic conditions being that bad.”

Indeed, Golden said he saw improvements on the horizon, despite the bad economic news of the past couple of weeks.

“I see it getting much better,” he told the group, noting, “but it’s going to take a long, long time. You’re not going to see house values growing 15 and 20 and 25 percent. There’s going to be a lull, but we will get out of it. Bay Ridge and Dyker and Bensonhurst are going stronger than ever. There are stores closing but also stores opening up. There are homes being sold. People are buying. House prices are down somewhat but they will be back up.”

And, he added, “Economic development is happening here.” In particular, Golden cited the soon-to-be-announced bio-tech industrial park at the Brooklyn Army Terminal.

“You’re going to see a lot of this going on, and this community continues to be on fire,” Golden contended. “We got great families and great people moving in and great people staying and enjoying a great quality-of-life. There’s so much going on that is good, and it’s because of the great people who live in our community.”

Election Day is November 4.

Updated 11:48 am, January 16, 2019
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