A GREAT FINANCIAL MANAGER—FOR THE RICH THE BLOOMBERG SPIN Mike has taken steps to stabilize New York’s

budget by addressing longstanding financial issues. THE FACTS Bloomberg's 2008 budget was nearly 45% larger than the last Giuliani budget in 2001. By 2008, Bloomberg had increased operating expenditures from $43.6 billion to $65.3 billion, a total increase of 50 percent. Total debt outstanding will be over $100 billion by fiscal year 2012. It was $56 billion when Bloomberg took office. Our local taxes are more than twice the national average. The tax burden is higher than when he took office. WHAT DID WE GET FOR THE DEBT AND HIGHER TAXES? Bloomberg gave developers billions of dollars in taxpayer money and “we” got three new sports stadiums that we can’t afford to attend and a ton of luxury condos that only the rich can live in. Our streets, subways, bridges and tunnels are in worse shape than when he took office. WHAT DID HE KNOW AND WHEN DID HE KNOW IT? Many analysts warned of the meltdown well before 2007, He pushed for less regulation. Wall Street made a bundle. The economy collapsed and many New Yorkers lost their life savings. BLOOMBERG’S FORTUNE GROWS—OUR INCOMES SHRINK THE BLOOMBERG SPIN NEW YORKERS, LET’S TAKE OUR CITY BACK. VOTE FOR BILL THOMPSON, DEMOCRAT Bloomberg works for a dollar a year and takes the subway to work. He’s made great personal sacrifices for New York.

THE FACTS Most moguls held onto their mansions and private jets but even they lost money in the current meltdown. When he took office, Bloomberg was worth $4.8 billion. Now? More than $17 billion. Time Warner Cable was operating on a temporary permit that expired on March 16, 2009. On March 12th, the Bloomberg Television network moved from channel 104 to channel 30. The move was worth many millions to Bloomberg. It hasn’t happened in any other city. Time Warner now has a renewal agreement. Go figure. BLOOMBERG BOUGHT TWO POLITICAL PARTIES Bloomberg gave the Republican and Independence Parties $1,250,000 for his third term run. This money is in addition to the tens of millions he’s given them before the latest payoffs. Both parties gave him their lines on the ballot. Go figure. BLOOMBERG’S WAR ON THE MIDDLE CLASS THE BLOOMBERG SPIN Check out our new television ad. It focuses on the Mayor’s innovative pro-growth plans to fix the economy, help the middle class and create jobs. Mike knows you can’t have a strong city without a strong middle class. THE FACTS The middle class is being driven out of the City. Manhattan is by far the most expensive city in the United States. The cost of living is more than twice the national average and much higher than San Francisco, the second most expensive city. Queens is more expensive than all but four of the 315 major urban areas. Brooklyn is at least as expensive. Bronx and Staten Island are well above the national norm.

THE AFFORDABLE HOUSING MAYOR? THE BLOOMBERG SPIN Mike started the largest municipal affordable housing program in the nation. When complete, this bold initiative will have provided affordable housing for half a million New Yorkers. Since Mike took office, nearly 94,000 units of affordable housing have been completed. THE FACTS Since Bloomberg appointed the notorious Marvin “Markup” Markus, a Goldman Sachs investment banker, to chair the Rent Guidelines Board, rents have skyrocketed. Only 10.6 percent of housing in the metro region is now affordable to people earning the median area income, the lowest share of anywhere in the country. Our rents are the highest in the nation. THE BLOOMBERG SPIN “Mike is also protecting existing affordable housing and improving housing conditions. His administration has brought tenants and landlords together to keep more than 21,000 apartments from exiting the Mitchell-Lama program, one of the most effective middle-class housing programs in the city's history.” THE FACTS At least 96,187 rent-stabilized, once affordable apartments have been lost under Bloomberg. That number is the floor. Technical and reporting issues make it difficult to determine how many more have been lost. Learn More About The Spin v. The Facts – about how Bloomberg has given our public parks to developers, trampled on our civil liberties, destroyed our neighborhoods, opposed gay rights, and much, much more. www.fedupnewyorkers.org and www.bloombergwatch.com

Let’s make sure Bloomberg hears us on November 3.