State Budget

Friday, July 16, 2010

Buying Time Budgets To Get Reelected

Buying Time Budgets
To Get Reelected

It is clear that this years budget was pasted together with spit and gum so incumbent pols could run for reelection with a state budget. With three budget modifications last year you would think the media would get the hint that dysfunctional Albany no long passes real budget but spin documents intended to protected incumbents. DiNapoli warns of NY kaboom time$ The latest state budget is about to explode, state Comptroller Thomas DiNapoli warned yesterday in a damning analysis of the $134.4 billion spending plan. Proposals based on "risky" or overly optimistic projections make up more than half -- some $4.8 billion -- of the Legislature's efforts to close an estimated $9.2 billion budget gap this year, leaving the state open to future budget woes.* Jealous of Jersey New York's budget is a fiscal time-bomb, packed with huge risks, hit-or-miss revenue and one-time cash jolts sure to leave Albany dry in '11. * New Yorkers gave the Legislature an “F” for its budget performance this year, a Siena poll found