In wake of two failed terrorist attacks - one targeting the New York City subway system and another involving a car bomb planted in Times Square - the Obama Administration has oddly announced plans to cut anti-terror funding to New York City by more than 25 percent.

The announcement occurred just hours before President Barack Obama comes to New York City to thank New York's Finest for fighting terror.

"We are far and away the number one target, " said Senator Charles Schumer who, as the No. 3 Democrat in the U.S. Senate, usually praises the Obama Administration.

But Schumer is among other local leaders who can't see why the Department of Homeland Security is making cuts to anti-terror programs on New York City public transit and at New York Harbor's ports.

Schumer said, "To sort of sprinkle the money throughout the nation and give New York a little more than other places is unfair. We should be getting a much higher percentage."

In addition, Rep. Peter King (R-LI), called the cuts "dangerous and unconscionable." He also said, "The threat against New York City, the top target of al-Qaeda, is increasing, not decreasing."

The administration has told members of Congress that it proposes to cut almost $43 million from last year's public transit security budget, from $153.3 million to $110.5 million. The reduction is a 27 percent drop, and it's a 39 percent reduction from 2008, the last year of the Bush Administration.

As for funding for port security, last year the Obama Administration kept anti-terror funding at virtually the same level as the Bush Administration's, but for 2010 Obama has proposed a cut of nearly $12 million from last year's $45.5 million, or 24 percent less.

President Obama is slated to visit NYPD headquarters in lower Manhattan on Thursday afteroon, to meet with members of the NYPD to commemorate their hard work in handling the Times Square bomb scare. Later on, he's scheduled to attend a Democratic fundraiser.