After the committees designed the horse, the committees created the perfect leader, Andrew Cuomo, as the Very Progressive, Very Fiscally Conservative, Mario's Dauphin, and President-to-be, and as the perfect compliment to the committee's horse.
We must not promise what we ought not, lest we be called on to perform what we cannot. ~Abraham Lincoln
Cuomo's Executive Budget will be released on Tuesday and instead of sandwich board men, the Cuomo advance lackeys arranged the following:
1. Some sheeple were greeted by door knob hangers,with a postcard where you declare “I support Governor Cuomo’s plan to help New York families and fix a broken Albany.” The door hangers were placed by "the Committee to Save New York to which [Cuomo] has many ties, ... the Committee ... plans to spend $10 million in its efforts." How many sucker sheeple approved a budget which hasn't been released?
2. Andrew "Captain Renault" Cuomo has denied any coordination with the committee whose, "first advertisement speaks generally of the need to “repair Albany’s broken finances, create jobs and grow our economy.” It features footage of Cuomo at the State of the State and lauds “a new governor who’s ready to fix Albany.” Thank God, Andrew had promised to end the influences of special interests and lobbyists and that he placed them on his reform committees.
3. Meanwhile, the Cuomo media and polling stooges arranged for several ridiculous polls, which "found Cuomo’s favorability rating at 71 percent. Forty-eight percent of voters surveyed say Cuomo is doing a good job, and 61 percent say Cuomo represents all regions of the state." [perhaps, only pizzeria owners were polled]
4. Attorney General Scheiderman is promising to really go after Medicaid fraud and, maybe, double or triple prosecutions of Medicaid fraud. Whoopy, he'll raise Cuomo's dismal 0.6% recovery of Medicaid excess to 1.2% or even 1.8%, or $0.5 billion dollars out of $29 billion dollar excess, and only if you believe a lawyer's promises.
5. Comptroller DiNapoli claiming it's worse in New Jersey, while promising a "safe" return on pension investments of 7.5%.
6. An unsourced media puff piece claimed that New York gained +37,000 jobs and New Jersey lost -30,00 jobs. But this was at odds with Bloomberg's, "Payrolls decreased in 35 U.S. states in December, ...New York led the nation with 22,800 job cuts last month." Did Andrew Cuomo's hack pay good money for such a embarrassing bogus puff piece?
7. To counter expected bankruptcy/default or huge increases in bond rates, the Cuomo media hacks got "financial analyst Hugh Johnson offered something ...called a reality check based on past history." This is the theory that since they didn't default in the past, they won't default now. Used before by Barney Frank and Chris Dodd telling us everything was alright with Fannie and Freddie, and by Madoff whose "safe"investments returned value for decades.
Cuomo's Executive Budget failure deconstructed:
Cuomo's budget will fail to deal with the elephant in the room and will not follow eight other State's models for laws and regulations which could produce at least $29 billion in savings per year, or even better the California model which could produce $42 billion in medicaid savings. And Cuomo and his Medicaid Redesign Team which is filled with trough feeders will fail here.
Cuomo's budget will use the "Madoff-like" pension assumptions of 7.5% safe return on pension investments. and continue to allow borrowing to fund contributions. This is like paying your credit card bill by charging the payment to the same card.
Cuomo will fail to budget in the required repaying of the federal government for Medicaid frauds tolerated by New York. This is minimally estimated at $1.6 billion a year for four years or $6.4 billion needed to added to deficit or be funded.
Cuomo's leaked plan to cut 12,000 state workers will fail because it saves only $1.8 billion, if Cuomo dismisses only those with $150,000 average income+benefits. Cuomo will more likely dismiss those with lower pay and have even lower savings. Most likely, Albany will become many Chiefs and few Indians.
Cuomo reducing Medicaid waste and fraud by ? will be a joke, since Cuomo recovered only 0.6% of medicaid fraud while he was Attorney General.
Cuomo will fail to address What happens when New York's bond rate rises?
NY's borrowing costs will move up from $5.6 Billion to $18.8 Billion.
How about repaying the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 since January, 2009; that's $3.1 billion? Will Cuomo pass this on in higher unemployment contributions by New York Employers and watch the Cuomo Business Friendly New York fizzle?
Andrew Cuomo claims a $10 billion dollar deficit, when if he could add correctly he'd get $22.1 billion deficit, without even counting the pension shortfall from the phony 7.5% safe return and the "Build America" funding losses.
Here's the latest Media Hack Puff piece on Monday:
"Captain Renault" Cuomo says, "I was shocked to learn that the state's budget process is a sham ...He said the large, automatic increases in funding are contained in arcane regulations and something he was told is called 'permanent law'." Shut the play down, "Captain Renault" Cuomo, your Casablanca rerun with, "you're shocked to find corruption" has grown stale. Your Budget is the sham.
Andrew Cuomo hopes to fool you sucker sheeple, when Cuomo points his finger at the legislature and they point the finger at each other and the Governor. See Albany Follies for earlier version of the same play/acting.
Andrew, when you run out of cash like California, will you issue $3 Cuomos?
The pipers who must be obeyed aren't the taxpayer pipers, it's future bond purchasers and those wanting to be paid when you run out of cash. These pipers will say your budget is a joke:
NY+USA Debt per person from No Whining, No Federal Bailout; You Made Your Bed Of Debt, Lie In It, New York
For the USA:
1. Total public debt outstanding Dec. 20 $13,868,461,000,000
2. nation's population on April 1 was 308,745,538
3. USA debt per person $44,805
The federal Government can't bailout New York; it's sinking itself.
4. New York debt per person: State-funded debt was $3,105 per person and in 2009, NY was the second most indebted State behind California.
5. This New York debt doesn't include the Pension liabilities from the present phony estimated safe return on pension investments of 7.5%, when the New York fund earned 1.1% over five years and New York State’s $132.6 billion pension fund is the nation’s third-largest.
If we correct the pension liabilities optimistically with a 3.1% return, we get another $9,664 additional debt per person. Making $12,769 debt per person as a better debt estimate in New York. But now look at the 4.52 million people on Medicaid in NY (who don't pay taxes) out of a NY population of 19,541,453 which raises the New York debt per taxpaying person and each of their dependents to $16,600.
So, the party's over; the hand writing is on the wall; some of the pipers must be paid now or no more piping, nor spending cash. link to the Finance Bazaar and a proper accounting.
Link to Banquet with the hand writing on the wall.
The words, Mene, Mene, Tekel, u-Pharsin, written by a God of Justice Disrupt the Albany Victory Celebration and King Cuomo