There Are No Budget Constraints In New York City: "Coastal Resiliency" Edition

I often make fun of the federal government as operating with what it thinks is an “infinite credit card,” outside and beyond any budget restraints. And thus all problems, real or imaginary, can be solved by dispensing some of the infinite federal loot. In its partial defense, the federal government does have the ability to print money, although that ability too eventually runs into limits. And then we have New York City. The City has no ability to print money, but nevertheless operates as if there are no constraints on spending. The sky is the limit! Recently I wrote about...