Key concerns facing the city

President Barack Obama sent Congress a $60.4 billion emergency spending request to cover the damage, of which about 10% would be earmarked for local transit. The Sandy relief bill is being debated in Congress.

Also, in 2013, the City Council will hold hearings dealing with the city's response to the storm and the best ways to prevent a repeat.

Nearly 21% of all New Yorkers live beneath the poverty level and the ranks of the working poor are swelling, as are the ranks of the homeless.

Many insiders acknowledge that revenue expectations may be overly optimistic. NYC has an aging infrastructure and ballooning pension costs.

Eventually, city residents can expect to pay more and get less in city services.