Sunday, August 7, 2011

Hugh Carey, dead, 92

NYTimes Obituary : Hugh Carey, Who Led Fiscal Rescue of New York City, Is Dead at 92

From The New York Times :

Hugh L. Carey, the governor who helped rescue New York from the brink of financial collapse in the 1970s and tamed a culture of ever-growing spending, died Sunday at his summer home on Shelter Island. He was 92.

His death was announced by the office of Gov. Andrew M. Cuomo.

“Governor Carey led our state during a time of great financial turmoil and pulled us back from the brink of bankruptcy and economic ruin,” Mr. Cuomo said in the statement.

As the 51st governor of New York from 1975 through 1982, Mr. Carey led a small group of public servants who vanquished the fiscal crisis that threatened New York City and the state — the direst emergency a governor had faced since the Depression — by taking on powers over the city’s finances that no governor had wielded before and none has wielded since. A liberal Democrat, Mr. Carey reversed the upward spiral of borrowing, spending and entitlement under his predecessor, Nelson A. Rockefeller, a Republican who had presided in an era of limitless government promise. ....

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