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Does Anybody Like This Budget?

1 April 2009 No Comment
NYS Comptroller Tom DiNapoli

NYS Comptroller Tom DiNapoli

Add State Comptroller to the very very long list of people who think the budget agreed to by Albany’s “3 men in a room” sucks. In fact, other than the three men in the room (Governor David Paterson, Senate Majority ‘Leader’ Malcolm Smith, and Assembly Speaker Shelly Silver) and their respective lackeys, the list includes pretty much everybody.

Here’s what Comptroller DiNapoli — himself a former Assembly member who then-Governor Spitzer feared would go too easy on the Albany power trio — has to say:

New York faced an extraordinary challenge to adopt a 2009-10 State Budget in the context of a daunting recession. My preliminary review of the budget indicates it does not adequately respond to today’s economic realities.

The budget is not a long-term solution to New York’s propensity to spend more than the state can afford. While the budget proposes to close an unprecedented gap, it does so by an over reliance on non-recurring federal stimulus funds and new tax revenues projected to materialize at a time of declining tax receipts.

This is essentially a buy-time budget, based on a hope that the economy recovers quickly. It’s a very fragile basket to place all the taxpayers’ eggs in. Instead of using the Federal stimulus to restructure the financial plan and match projected revenues to long term growth in spending, the budget uses stimulus funds as a short-term fix.

The danger is that New York could end up right back where we started, with huge budget gaps and an unsustainable level of spending. I will provide a more detailed review of the enacted budget shortly.

But of course all that matters to the statehouse wrecking crew is, whom if anyone will voters take their anger out on? Since voters almost universally reelect their local legislators who then pick the Senate Leader and the Speaker, Governor Paterson ought to be very worried. He’s the only guy voters can take it out on directly.

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