Fax to Congress; evening of 7/28/2011
Re: Debt reduction. Save $200 billion dollars a year right now and reduce the need to borrow this money, right now, and save $2 Trillion in ten years. The USA gains; California gains; New York crooks lose.
Honorable Harry Reid, John A. Boehner and others* in Congress:
Debt reduction right now, $200 billion this year and $2 trillion in ten years. Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. Cuomo and Eric Holder are knowledgeable of this. And this would benefit California.
Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A State like California would benefit from this change.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
This is a condensed recap of an earlier post on cuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries
Sincerely yours,
CuomoTarp.blogspot.com, Terence Finnan, PO Box 354, Keene NY 12942; 518-576-9734
[please access web site for working links]
* To: Michele Bachmann, Ron Pau Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Real Debt Cuts Ready To Go Today; $200 Billion This Year; $2 Trillion In Ten Years; Both Democrats And Republicans Can Support.
This is a ready to go debt reduction that both Democrats and Republicans can support. This is a recap of an earlier fax to Congress entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries
Copy of letter faxed early this morning.
CuomoTARP.blogspot.com July 27, 2011
To: Michele Bachmann, Ron Pau Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Re: Debt reduction. Save $200 billion dollars a year right now and reduce the need to borrow this money, right now, and save $2 Trillion in ten years. The USA gains; California gains; New York crooks lose.
Honorable Harry Reid, John A. Boehner and others in Congress:
Right now, $200 billion this year and $2 trillion in ten years. Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. Cuomo and Eric Holder are knowledgeable of this. And this would benefit California.
Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A State like California would benefit from this change. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
This is a recap of an earlier post on cuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries
Sincerely yours,
CuomoTarp.blogspot.com
Copy of letter faxed early this morning.
CuomoTARP.blogspot.com July 27, 2011
To: Michele Bachmann, Ron Pau Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Re: Debt reduction. Save $200 billion dollars a year right now and reduce the need to borrow this money, right now, and save $2 Trillion in ten years. The USA gains; California gains; New York crooks lose.
Honorable Harry Reid, John A. Boehner and others in Congress:
Right now, $200 billion this year and $2 trillion in ten years. Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. Cuomo and Eric Holder are knowledgeable of this. And this would benefit California.
Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A State like California would benefit from this change. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
This is a recap of an earlier post on cuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries
Sincerely yours,
CuomoTarp.blogspot.com
NY Will Follow Greece; NY Budget Director Reveals NY Can't Finance Budget; Congress Asked for State Bankruptcy Law
A follow-up letter to Bond Rating Agencies and Congress was faxed/or mailed.
Dated 7/26/2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators; Moody's, Fitch and Standard+Poors;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance
Re: Greece in the USA; NY Budget Director can't finance NY budget; bankruptcy law needed
Dear Congressman and Rating Agencies:
Moody's reports default on Greek debt almost certain. New York State has the highest debt per person in the USA ($24,195) and the second highest taxes per person ($6,884). This is a Heads-up call to Rating Agencies and Congress that New York State has run out of money and a Greek-like bail-out request is coming. Andrew Cuomo's Budget director says, he has no ability to finance spending commitments already. This was recorded at a 7/20/2011 hearing of Cuomo's Commission on Judicial Compensation: "We don't even have the ability to finance the spending commitment that are already in place, said Robert L. Megna, who was speaking on behalf of Governor Andrew Cuomo, who appointed three of the commission's seven members." You can hear his testimony from 00:32:34 to 00:56:17 at
http://pointers.audiovideoweb.com/stcasx/va91win1520/Judiciary07202011edit.wmv/play.asx
Andrew Cuomo claims to balance the State Budget and then approves a Commission to raise judges' pay by 61%, when he can't even pay for the items already in his budget. Sorry, Andrew, if you can't finance your spending commitments, you're broke and will run out of money like Greece. New York State needs the option to go bankrupt and I've copied a condensed version of my earlier faxed 1/26/2011 letter to Congress, with the simple changes necessary to create a Chapter 10 Bankruptcy for States. link to 1/26 fax post
[condensed] FAX sent dated: 1/26/2011
Someone needs to get the bankruptcy ball rolling; so here goes. A Primer for a State's Bankruptcy:
Why? New York will go bankrupt because Cuomo is not acting to easily correct $28 Billion dollars Medicaid excesses in NY compared with others States (California). His proposals to dismiss 12,000 State employees might account for $1.2 billion dollars saved. That's $1.2 billion out of the $10 billion he claims is the budget deficit. So, Cuomo runs out of cash. But, he's not alone, several governors will join him. They need a cover, who'll stiff the State bondholders and redo employee contractual benefits and pay. It's not me (your beloved Elected Governor), it's the bankruptcy judge.
Is it Constitutional? Yes, because the law proposed below was only modified by replacing the words referring to a State's municipality, with the word(s) referring only to a State. "The first municipal bankruptcy legislation was enacted in 1934. ..., the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. Ashton v.Cameron County Water Improvement District No. 1, [Then] Congress enacted a revised Municipal Bankruptcy Act in 1937, ... which was upheld by the Supreme Court. United States v. Bekins."
[note:Chapter 9 is the existing law for municipal bankruptcy]
How? The proposed Chapter 10 for States has identically to the existing constitutional Chapter 9, no provision for the sale of assets, nor for such to be given to creditors. Just as in Chapter 9, the bankruptcy court cannot actively mange the State's affairs, and can only approve a reorganization plan submitted by the State. And as in Chapter 9,; the State can use the bankruptcy court to enforce court orders and preclude any connected litigation elsewhere and change contractual agreements.
Details In the proposed Chapter 10:
1. The bankruptcy judge is assigned by the Chief Federal Judge of the State;
2. A list of all creditors can be filed after filing bankruptcy petition;
3. Automatic stays of all collections against the State can be stayed; the court can fix time and manner of the filing of all claims against the State;
4. Only the State and not creditors, nor someone appointed by the bankruptcy court can propose a settlement;
5. The State retains its powers to use its property, raise taxes, and make expenditures and change non-debt contractual relationships;
6. The State can reject collective bargaining agreements and retiree benefit plans;
7. Interested parties may be heard, but no one but the State can file a PLAN for resolution of the debts and obligations.
Proposed Chapter 10:
I've copied sections of the Federal Bankruptcy law for Chapter 9 and would remove text in blue and insert the red text. Other parts of this Chapter 9 would remain unchanged and be renumbered from §§901-946 to §§1001 to 1046
TITLE 11 CHAPTER 9 10
CHAPTER 9 10—ADJUSTMENT OF DEBTS OF A MUNICIPALITY STATE
SUBCHAPTER I—GENERAL PROVISIONS (§§901-904 1001-1004)
SUBCHAPTER II—ADMINISTRATION (§§921—930 1021-1030)
SUBCHAPTER III—THE PLAN (§§941—946 1041-1046)
903.1003. Reservation of State power to control municipalities Sovereign power
This chapter does not limit or impair the power of a State to control, by legislation or otherwise,a municipality of or in such State in the exercise of the political or governmental powers of such municipality, including expenditures for such exercise, but— such State, a State law prescribing a method of composition of indebtedness of such municipality of such State may not bind any creditor that does not consent to such composition; and (2)a judgment entered under such a law may not bind a creditor that does not consent to such composition.
904. 1004. Limitation on jurisdiction and powers of court
Notwithstanding any power of the court, unless the debtor consents or the plan so provides, the court may not, by any stay, order, or decree, in the case or otherwise, interfere with—any of the political or governmental powers of the debtor State; the debtor’s use or enjoyment of any income-producing property; the sovereign immunity of such debtor State.
921. 1021. Petition and proceedings relating to petition 109(d) and 301 of this title, a case under this chapter concerning an unincorporated tax or special assessment district that does not have such district’s own officials is commenced by the filing under section of this title of a petition under this chapter by such district’s governing authority or the board or body having authority to levy taxes or assessments to meet the obligations of such district. State.
(b)The chief judge of the court of appeals for the circuit embracing thedistrict State in which the case is commenced shall designate the bankruptcy judge to conduct the case. After any objection to the petition, the court, after notice and a hearing, may dismiss the petition if the debtor did not file the petition in good faith or if the petition does not meet the requirements of this title.
If the petition is not dismissed under subsection (c) of this section, the court shall order relief under this chapter notwithstanding section (b)The court may not, on account of an appeal from an order for relief, delay any proceeding under this chapter in the case in which the appeal is being taken; nor shall any court order a stay of such proceeding pending such appeal. The reversal on appeal of a finding of jurisdiction does not affect the validity of any debt incurred that is authorized by the court under section (c)or (d)
927. 1027. Limitation on recourse
The holder of a claim payable solely from special revenues of thedebtor State under applicable non bankruptcy law shall not be treated as having recourse against the debtor on account of such claim pursuant to section (b) of this title.
[January 2011]By Fax to Chairman and ranking Minority Member of Senate and House Judiciary Committees and the Senate Subcommittee on Administrative Oversight and the Courts and the House Subcommittee on Courts, Commercial and Administrative Law
Patrick Leahy (D-VT); Jeff Sessions (R-AL)
Lamar Smith (R-TX); John Conyers, Jr. (D-MI)
Sheldon Whitehouse (D-RI); Howard Coble (R-NC)
[end of 1/26/2011 condensed fax]
Here are Constitutional Considerations from blog post dated 1/27/2011 In regard the proposed Chapter 10 Bankruptcy for States:
Why must Bankruptcy for States be different from ordinary bankruptcy? While, Congress has the power to make laws for bankruptcy under Article 1-Section 8 of the US Constitution, the States cannot make their own bankruptcy laws because of Article 1-Section 8 of US Constitution. Without bankruptcy, States could not void or alter contracts with State employees or bondholders or other contract holders under Article 1-Section 10 of the US Constitution. States also must honor the judicial acts of other States involving contracts with NY State under Article 4-Section 1 of US Constitution. And States retain all sovereign powers except those removed by the Constitution based upon Amendment 10.
The text of relevant sections of US Constitution:
Article 1
Section 8. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
Section 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Article IV
Section 1. Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records, and Proceedings shall be proved, and the Effect thereof.
Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
In conclusion, it would be easy to create a Chapter 10 bankruptcy for States. Bankruptcy would allow New York State to alter its present contracts, change its employment contracts and make changes in NY's bondholder's rights, while still allowing NY State to keep its sovereignty as per US Constitution. Also, the federal government would not need to bail-out New York State. The bond rating agencies can update their ratings on New York debt.
Sincerely yours,
CuomoTARP.blogspot.com. [please access web site post dated 7/26/2011 for working links]
Dated 7/26/2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators; Moody's, Fitch and Standard+Poors;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance
Re: Greece in the USA; NY Budget Director can't finance NY budget; bankruptcy law needed
Dear Congressman and Rating Agencies:
Moody's reports default on Greek debt almost certain. New York State has the highest debt per person in the USA ($24,195) and the second highest taxes per person ($6,884). This is a Heads-up call to Rating Agencies and Congress that New York State has run out of money and a Greek-like bail-out request is coming. Andrew Cuomo's Budget director says, he has no ability to finance spending commitments already. This was recorded at a 7/20/2011 hearing of Cuomo's Commission on Judicial Compensation: "We don't even have the ability to finance the spending commitment that are already in place, said Robert L. Megna, who was speaking on behalf of Governor Andrew Cuomo, who appointed three of the commission's seven members." You can hear his testimony from 00:32:34 to 00:56:17 at
http://pointers.audiovideoweb.com/stcasx/va91win1520/Judiciary07202011edit.wmv/play.asx
Andrew Cuomo claims to balance the State Budget and then approves a Commission to raise judges' pay by 61%, when he can't even pay for the items already in his budget. Sorry, Andrew, if you can't finance your spending commitments, you're broke and will run out of money like Greece. New York State needs the option to go bankrupt and I've copied a condensed version of my earlier faxed 1/26/2011 letter to Congress, with the simple changes necessary to create a Chapter 10 Bankruptcy for States. link to 1/26 fax post
[condensed] FAX sent dated: 1/26/2011
Someone needs to get the bankruptcy ball rolling; so here goes. A Primer for a State's Bankruptcy:
Why? New York will go bankrupt because Cuomo is not acting to easily correct $28 Billion dollars Medicaid excesses in NY compared with others States (California). His proposals to dismiss 12,000 State employees might account for $1.2 billion dollars saved. That's $1.2 billion out of the $10 billion he claims is the budget deficit. So, Cuomo runs out of cash. But, he's not alone, several governors will join him. They need a cover, who'll stiff the State bondholders and redo employee contractual benefits and pay. It's not me (your beloved Elected Governor), it's the bankruptcy judge.
Is it Constitutional? Yes, because the law proposed below was only modified by replacing the words referring to a
[note:Chapter 9 is the existing law for municipal bankruptcy]
How? The proposed Chapter 10 for States has identically to the existing constitutional Chapter 9, no provision for the sale of assets, nor for such to be given to creditors. Just as in Chapter 9, the bankruptcy court cannot actively mange the State's affairs, and can only approve a reorganization plan submitted by the State. And as in Chapter 9,; the State can use the bankruptcy court to enforce court orders and preclude any connected litigation elsewhere and change contractual agreements.
Details In the proposed Chapter 10:
1. The bankruptcy judge is assigned by the Chief Federal Judge of the State;
2. A list of all creditors can be filed after filing bankruptcy petition;
3. Automatic stays of all collections against the State can be stayed; the court can fix time and manner of the filing of all claims against the State;
4. Only the State and not creditors, nor someone appointed by the bankruptcy court can propose a settlement;
5. The State retains its powers to use its property, raise taxes, and make expenditures and change non-debt contractual relationships;
6. The State can reject collective bargaining agreements and retiree benefit plans;
7. Interested parties may be heard, but no one but the State can file a PLAN for resolution of the debts and obligations.
Proposed Chapter 10:
I've copied sections of the Federal Bankruptcy law for Chapter 9 and would remove text in blue and insert the red text. Other parts of this Chapter 9 would remain unchanged and be renumbered from §§
TITLE 11 CHAPTER
CHAPTER
SUBCHAPTER I—GENERAL PROVISIONS (§§
SUBCHAPTER II—ADMINISTRATION (§§
SUBCHAPTER III—THE PLAN (§§
This chapter does not limit or impair the power of a State to control, by legislation or otherwise,
Notwithstanding any power of the court, unless the debtor consents or the plan so provides, the court may not, by any stay, order, or decree, in the case or otherwise, interfere with—any of the political or governmental powers of the debtor State; the debtor’s use or enjoyment of any income-producing property; the sovereign immunity of such debtor State.
(b)The chief judge of the court of appeals for the circuit embracing the
If the petition is not dismissed under subsection (c) of this section, the court shall order relief under this chapter notwithstanding section (b)The court may not, on account of an appeal from an order for relief, delay any proceeding under this chapter in the case in which the appeal is being taken; nor shall any court order a stay of such proceeding pending such appeal. The reversal on appeal of a finding of jurisdiction does not affect the validity of any debt incurred that is authorized by the court under section (c)or (d)
The holder of a claim payable solely from special revenues of the
[January 2011]By Fax to Chairman and ranking Minority Member of Senate and House Judiciary Committees and the Senate Subcommittee on Administrative Oversight and the Courts and the House Subcommittee on Courts, Commercial and Administrative Law
Patrick Leahy (D-VT); Jeff Sessions (R-AL)
Lamar Smith (R-TX); John Conyers, Jr. (D-MI)
Sheldon Whitehouse (D-RI); Howard Coble (R-NC)
[end of 1/26/2011 condensed fax]
Here are Constitutional Considerations from blog post dated 1/27/2011 In regard the proposed Chapter 10 Bankruptcy for States:
Why must Bankruptcy for States be different from ordinary bankruptcy? While, Congress has the power to make laws for bankruptcy under Article 1-Section 8 of the US Constitution, the States cannot make their own bankruptcy laws because of Article 1-Section 8 of US Constitution. Without bankruptcy, States could not void or alter contracts with State employees or bondholders or other contract holders under Article 1-Section 10 of the US Constitution. States also must honor the judicial acts of other States involving contracts with NY State under Article 4-Section 1 of US Constitution. And States retain all sovereign powers except those removed by the Constitution based upon Amendment 10.
The text of relevant sections of US Constitution:
Article 1
Section 8. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
Section 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Article IV
Section 1. Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records, and Proceedings shall be proved, and the Effect thereof.
Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
In conclusion, it would be easy to create a Chapter 10 bankruptcy for States. Bankruptcy would allow New York State to alter its present contracts, change its employment contracts and make changes in NY's bondholder's rights, while still allowing NY State to keep its sovereignty as per US Constitution. Also, the federal government would not need to bail-out New York State. The bond rating agencies can update their ratings on New York debt.
Sincerely yours,
CuomoTARP.blogspot.com. [please access web site post dated 7/26/2011 for working links]
Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person
Wanna buy a New York bond? a bridge?
First, New York State and Cuomo lost out to California for the most "business unfriendly State," as The Cuomo Business Friendly Bubble Bursts. Then New York State and Cuomo lost out to New Jersey by a small margin as the State where residents pay the most in taxes. New York's Taxes paid by residents as percentage of income are 12.1% "The state [NY] has one of the highest state and local tax collections per capita, an average of $6,884. According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."
New York State and Cuomo come in first with New York Debt per person including local debt at $24,195. For a family of four about $97,000. Which is the largest debt of any State in the USA.
"S&P said then there was "at least" a one-in-two chance that it would cut its US rating within the next 90 days, an act that would almost certainly send Washington's cost of borrowing shooting up." "A downgrade of the US sovereign rating, or a "selective default" rating on its bonds, could also force the downgrade of the ratings of individual states and local governments."
New York State's budget has at least an unanticipated $2 billion dollar deficit according to State Budget Director. Unlike Washington D.C. where money can be printed, New York State must borrow.
How will NYS repay in November the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 ; that's $3.1 billion?
What happens when New York's bond rate rises? NY's borrowing costs go up from $5.6 Billion to $18.8 Billion?
Which State's bonds will be downgraded first? Bankruptcy will come to look attractive, but Congress must act first.
First, New York State and Cuomo lost out to California for the most "business unfriendly State," as The Cuomo Business Friendly Bubble Bursts. Then New York State and Cuomo lost out to New Jersey by a small margin as the State where residents pay the most in taxes. New York's Taxes paid by residents as percentage of income are 12.1% "The state [NY] has one of the highest state and local tax collections per capita, an average of $6,884. According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."
New York State and Cuomo come in first with New York Debt per person including local debt at $24,195. For a family of four about $97,000. Which is the largest debt of any State in the USA.
"S&P said then there was "at least" a one-in-two chance that it would cut its US rating within the next 90 days, an act that would almost certainly send Washington's cost of borrowing shooting up." "A downgrade of the US sovereign rating, or a "selective default" rating on its bonds, could also force the downgrade of the ratings of individual states and local governments."
New York State's budget has at least an unanticipated $2 billion dollar deficit according to State Budget Director. Unlike Washington D.C. where money can be printed, New York State must borrow.
How will NYS repay in November the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 ; that's $3.1 billion?
What happens when New York's bond rate rises? NY's borrowing costs go up from $5.6 Billion to $18.8 Billion?
Which State's bonds will be downgraded first? Bankruptcy will come to look attractive, but Congress must act first.
New York State Budget Director Reports A $ 2+ Billion Deficit That Must Be Considered Before Judges' Pay Raised 40% Or More
"All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.
Or, New York's headed to default and the Judge's pay increase could be the final straw.
New York State must learn that the bond market punishes prodigal State spending, whether it's a Country or New York State. "Early on Thursday morning, after seven hours of talks, Germany and France reached a common position on a second bailout of Greece but details of the accord were not revealed."
While in Albany on 7/20/2011, New York State Budget Director, Robert Megna, told the Commission on Judicial Compensation that New York State has a 2+billion dollar deficit already and although the judges might demand, want or deserve more, New York State has run out of money. The Commission heard lots of self-serving praise of NYS judges by lawyers and the judges themselves and how they needed or deserved a large raise. And, the Commission heard of rampant corruption by NYS judges which was ignored both at the Appellate level and in the Court of Appeals and was covered up by the New York Commission Judicial Conduct headed by Robert Tembeckjian.
Near the end of Commission testimony, T. Finnan from CuomoTARP told the Commission that the NY State's deficit is more likely to be $5+ billion as a minimum. With the judges expecting a raise to $194,000 to $220,000, Mr. Finnan pointed out the Governor claims only $170,050. Mr. Finnan noted the Budget Director's earlier testimony about a $2+ billion deficit was just the beginning of the increasing deficit this year for NYS. T. Finnan continued his testimony which paralleled his written submission copied below:
Some States have Surpluses While Cuomo Heads to Default With His Commission Considering 61% Raises For NY Judges on 7/20
Remember when, Gov. Cuomo, said he would cut his $179,000 salary by 5% to $170,050 and that he intended to reduce other salaries of the governor's staff, including the governor's secretary, counsel, director of state operations, counselor and chief of staff. Well things have changed and NY judges want $220,836 and Cuomo wants a commission of hacks to decide.
On Wednesday, July 20, 2011, the Commission to raise judges' pay will hold the only hearing. Here's what they need to hear. Will judicial raises be the straw that breaks the camel's back? Cuomo has created another committee to do the dirty work of giving judicial raises of up to 61%, while Cuomo hides behind them grinning. While some States have budget surpluses, such as Indiana having $1.2 billion dollars, New York has smoke and mirrors hiding default or bankruptcy. The Cuomo budget revenue predictions were all smoke without any fire and the $4.3 billion dollars expected in increased revenue has vanished with the smoke.
Earlier this year, the Cuomo Medicaid Redesign Team created smoke promising Medicaid savings, when all it did was to replace last year's NY State Medicaid expenditure of $13.8 billion with a cap on this year's expenditure at $15.1 billion, while forgetting that NY won't have the federal stimulus of $5.9 billion received last year.
Meanwhile Cuomo has used mirrors to divert attention from the recommendation of Chief Administrative Judge Ann Pfau to the 2011 Commission on Judicial Compensation to increase judicial pay up to 61%. Cuomo needed the mirrors to not upset his negotiations with the peons, aka ordinary employees of NY State, to freeze wages for three years in a tentative, five-year contract agreement with Public Employees Federation. In the Cuomo allegory of Animal Farm, Napolean, aka Andrew, will explain to the other lesser animals that "All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.
Judge Pfau goes on to spout about Fairness, Objectivity, Regularity and finally about Institutional Integrity. But what Judge Pfau forgot was common sense. New York State has run out of money, people are leaving the State because the taxes are too high and the employment possibilities shrinking. While President Obama calls for shared sacrifice, NY Judges demand a 61% pay hike.
The answers to the Judge Pfau's pleadings are:
1. Fairness must extend to all those lesser earning peons who don't want to pay Judges more and receive less for themselves. Fairness to the People is restitution made to victims of judicial corruption.
2. Objectively, the peons don't trust the courts and its scandals and know why the reported 129,000+ complaints to ExposeCorruptCourts.blogspot.com were ignored.
3. The only Regularity in New York is more taxes, more corruption, more greed, more debt, and more people leaving the State.
4. The NY Court Institution is a joke. The Chief Judge is charged with crimes. The Center for Judicial Accountability documents the huge New York Judicial Corruption and says,“[no] mechanisms are in place and functioning to remove judges who deliberately pervert the rule of law and any semblance of justice and whose decisions are nothing short of ‘judicial perjuries’, being knowingly false and fabricated. Such judges, willfully destroying the lives of countless New Yorkers, the wellbeing of our state, and our democracy as a whole, are unworthy of their current salaries and benefits – being paid by hardworking New Yorkers.”
This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link The State will run out of money this year. Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.
Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money. For the sake and safety of the judges and yourselves, say, "judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."
This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link The State will run out of money this year. Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.
Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money. For the sake and safety of the judges and yourselves, say,"judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."
Some States have Surpluses While Cuomo Heads to Default With His Commission Considering 61% Raises For NY Judges on 7/20
As I grow older I pay less attention to what men say. I just watch what they do. ~Andrew Carnegie
A fool and his NY bond money will soon be parted by NY State.
~An angry mob won't hear your explanations.~
Remember when, Gov. Cuomo, said he would cut his $179,000 salary by 5% to $170,050 and that he intended to reduce other salaries of the governor's staff, including the governor's secretary, counsel, director of state operations, counselor and chief of staff. Well things have changed and NY judges want $220,836 and Cuomo wants a commission of hacks to decide.
On Wednesday, July 20, 2011, the Commission to raise judges' pay will hold its only hearing. Here's what they need to hear. Will judicial raises be the straw that breaks the camel's back? Cuomo has created another committee to do the dirty work of giving judicial raises of up to 61%, while Cuomo hides behind them grinning. While some States have budget surpluses, such as Indiana having $1.2 billion dollars, New York has smoke and mirrors hiding default or bankruptcy. The Cuomo budget revenue predictions were all smoke without any fire and the $4.3 billion dollars expected in increased revenue has vanished with the smoke.
Earlier this year, the Cuomo Medicaid Redesign Team created smoke promising Medicaid savings, when all it did was to replace last year's NY State Medicaid expenditure of $13.8 billion with a cap on this year's expenditure at $15.1 billion, while forgetting that NY won't have the federal stimulus of $5.9 billion received last year.
Meanwhile Cuomo has used mirrors to divert attention from the recommendation of Chief Administrative Judge Ann Pfau to the 2011 Commission on Judicial Compensation to increase judicial pay up to 61%. Cuomo needed the mirrors to not upset his negotiations with the peons, aka ordinary employees of NY State, to freeze wages for three years in a tentative, five-year contract agreement with Public Employees Federation. In the Cuomo allegory of Animal Farm, Napolean, aka Andrew, will explain to the other lesser animals that "All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.
Judge Pfau goes on to spout about Fairness, Objectivity, Regularity and Institutional Integrity. But what Judge Pfau forgot was common sense. New York State has run out of money, people are leaving the State because the taxes are too high and the employment possibilities shrinking. While President Obama calls for shared sacrifice, NY Judges demand a 61% pay hike.
The answers to the Judge Pfau's pleadings are:
1. Fairness must extend to all those lesser earning peons who don't want to pay Judges more and receive less for themselves. Fairness to the People is restitution made to victims of judicial corruption.
2. Objectively, the peons don't trust the courts and its scandals and know why the reported 129,000+ complaints to ExposeCorruptCourts.blogspot.com were ignored.
3. The only Regularity in New York is more taxes, more corruption, more greed, more debt, and more people leaving the State.
4. The NY Court Institution is a joke. The Chief Judge is charged with crimes. The Center for Judicial Accountability documents the huge New York Judicial Corruption and says,“[no] mechanisms are in place and functioning to remove judges who deliberately pervert the rule of law and any semblance of justice and whose decisions are nothing short of ‘judicial perjuries’, being knowingly false and fabricated. Such judges, willfully destroying the lives of countless New Yorkers, the wellbeing of our state, and our democracy as a whole, are unworthy of their current salaries and benefits – being paid by hardworking New Yorkers.”
This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link The State will run out of money this year. Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.
Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money. For the sake and safety of the judges and yourselves, say, "judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."
A fool and his NY bond money will soon be parted by NY State.
~An angry mob won't hear your explanations.~
Remember when, Gov. Cuomo, said he would cut his $179,000 salary by 5% to $170,050 and that he intended to reduce other salaries of the governor's staff, including the governor's secretary, counsel, director of state operations, counselor and chief of staff. Well things have changed and NY judges want $220,836 and Cuomo wants a commission of hacks to decide.
On Wednesday, July 20, 2011, the Commission to raise judges' pay will hold its only hearing. Here's what they need to hear. Will judicial raises be the straw that breaks the camel's back? Cuomo has created another committee to do the dirty work of giving judicial raises of up to 61%, while Cuomo hides behind them grinning. While some States have budget surpluses, such as Indiana having $1.2 billion dollars, New York has smoke and mirrors hiding default or bankruptcy. The Cuomo budget revenue predictions were all smoke without any fire and the $4.3 billion dollars expected in increased revenue has vanished with the smoke.
Earlier this year, the Cuomo Medicaid Redesign Team created smoke promising Medicaid savings, when all it did was to replace last year's NY State Medicaid expenditure of $13.8 billion with a cap on this year's expenditure at $15.1 billion, while forgetting that NY won't have the federal stimulus of $5.9 billion received last year.
Meanwhile Cuomo has used mirrors to divert attention from the recommendation of Chief Administrative Judge Ann Pfau to the 2011 Commission on Judicial Compensation to increase judicial pay up to 61%. Cuomo needed the mirrors to not upset his negotiations with the peons, aka ordinary employees of NY State, to freeze wages for three years in a tentative, five-year contract agreement with Public Employees Federation. In the Cuomo allegory of Animal Farm, Napolean, aka Andrew, will explain to the other lesser animals that "All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.
Judge Pfau goes on to spout about Fairness, Objectivity, Regularity and Institutional Integrity. But what Judge Pfau forgot was common sense. New York State has run out of money, people are leaving the State because the taxes are too high and the employment possibilities shrinking. While President Obama calls for shared sacrifice, NY Judges demand a 61% pay hike.
The answers to the Judge Pfau's pleadings are:
1. Fairness must extend to all those lesser earning peons who don't want to pay Judges more and receive less for themselves. Fairness to the People is restitution made to victims of judicial corruption.
2. Objectively, the peons don't trust the courts and its scandals and know why the reported 129,000+ complaints to ExposeCorruptCourts.blogspot.com were ignored.
3. The only Regularity in New York is more taxes, more corruption, more greed, more debt, and more people leaving the State.
4. The NY Court Institution is a joke. The Chief Judge is charged with crimes. The Center for Judicial Accountability documents the huge New York Judicial Corruption and says,“[no] mechanisms are in place and functioning to remove judges who deliberately pervert the rule of law and any semblance of justice and whose decisions are nothing short of ‘judicial perjuries’, being knowingly false and fabricated. Such judges, willfully destroying the lives of countless New Yorkers, the wellbeing of our state, and our democracy as a whole, are unworthy of their current salaries and benefits – being paid by hardworking New Yorkers.”
This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link The State will run out of money this year. Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.
Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money. For the sake and safety of the judges and yourselves, say, "judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."
Rating Agencies Informed As Cuomo's Budget's Imagined $ 4.3 Billion In Revenue Increases Disappears
Charles Dickens advises Andrew Cuomo: Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.
Poor Andrew Cuomo praised Obama's economic policies this month, but Cuomo does not have Obama's ability to print money to accommodate revenue shortfalls. When Cuomo's budget doesn't get enough revenue, he must borrow or increase taxes and those nasty bond purchasers will demand higher interest rates.
First, The Cuomo Business Friendly Bubble Burst, when NY was ranked 49th out of 50 States as Business Friendly. While the Cuomo stooge at the NY Economic Development Agency described his own policy as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed." Then, Cuomo's expected tax revenues took another dive into red ink with latest report. "A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the second month in a row as new orders worsened, while core inflation rose at its highest pace in three years."
This business contraction affects the revenue increases which finance Cuomo's spending in his budget. The Comptroller in his "Report on the State Fiscal Year 2011-2012" says a "structural imbalance" exists because general fund spending growth is still more than double projected revenue growth. Cuomo had balanced his budget with imagined revenue increases and Cuomo used temporary sources for 14.7% of his budget revenue, such as, Federal stimulus money (threatened in present federal debt debate), "voluntary contributions" from NY Power Authority and other authorities (they'll charge you higher rates) and delaying paying NY State Income Tax refunds. Cuomo's unrealized revenue fantasies reported by the Comptroller include:
1. Personal Income tax receipts in 2011-2012 will increase $2.9 billion or 7.9% (but, see decreased employment reported above)
2. User taxes and fees (sales and tobacco taxes)will increase $467 million or 3.3 % (but, see tobacco tax increase will fail link 1 link 2 and workers earning less or unemployed spend less)
3. Business taxes will increase $894 million or 12.3% (but, see above business results)
4. Payroll Tax will increase $63 million or 4.6% (but, rising unemployment including State layoffs decrease payrolls)
The total fantasy budget's revenue increases of $4.3 billion dollars will not materialize. A budget shortfall of $4.3 billion dollars must be borrowed this year.
When Cuomo borrows this $4.3 billion, will the bond rating agencies downgrade NY debt and force up borrowing costs in the Cuomo budget, or will they understand that Cuomo meant well? What will happen when those other things that Cuomo forgot to fund in his budget need borrowing to fund them, such as:
1. New York Pension Books are Cooked
2 The Cuomo 2011-2012 Budget proposes to "eliminate a $10 billion dollar deficit without raising taxes or borrowing" and then is borrowing $5.6 Billion dollars.
3. Cuomo has a "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."
4. Cuomo's budget used the "Madoff-like" assumption of a 7.5% safe return on pension investments. and continues to allow borrowing to fund contributions.
5. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.
6. Cuomo forgot what happens when New York's bond rate rises and NY's borrowing costs move up from $5.6 Billion $18.8 Billion.
All of the above ignores the Medicaid fraud by NY State, which Cuomo defended as NY Attorney General, and which, if Congress block grants Medicaid, Cuomo could immediately end. See letters to Congress on this blog. link 1 link 2
The following letters were sent to the ratings agencies:
Letters by registered mail: CuomoTARP.blogspot.com July 18, 2011
To: Moody's Investors Service Inc.
101 Federal Street, Suite 1900
Boston, MA 02110
Standard And Poors
55 Water Street
New York, New York 10041
Fitch's
One State Street Plaza
New York, NY 10004
Re: protecting buyers of NY bonds and your potential liability.
Dear Sirs:
Attached is a copy of the latest 7/18/2011 post on CuomoTarp.blogspot.com. The Financial Crisis Inquiry Commission established by Congress had reported on page 25: "We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction." You realize your potential liability, if this occurs with NY State Bonds. There will be lots of angry NY State Bond Holders who will look for compensation for your scienter (knowing) neglect and/or malfeasance, if you fail to act appropriately.
NY Debt per person including local debt for a family of four is about $97,000 (the highest in the USA). Bob Brinker already recommended seniors leave the high tax States. You need to protect NY State Bondholders with truthful ratings
Also consider the Letters to Congress on this blog dated July 12, 2011 and May 23, 2011 which show a proven moral hazard and criminality in NY State Government and the likelihood of financial fraud.
Sincerely yours,
CuomoTARP.blogspot.com
Note: all links are available on the CuomoTARP.blogspot.com website where a copy of this letter is posted.
Attached: Blog post dated July 18, 2011
P.S. Tomorrow's 7/19 post will concern more lack of fiscal irresponsibility by NY Government and its committees and the costs thereof which must be borrowed in this fiscal year.
Poor Andrew Cuomo praised Obama's economic policies this month, but Cuomo does not have Obama's ability to print money to accommodate revenue shortfalls. When Cuomo's budget doesn't get enough revenue, he must borrow or increase taxes and those nasty bond purchasers will demand higher interest rates.
First, The Cuomo Business Friendly Bubble Burst, when NY was ranked 49th out of 50 States as Business Friendly. While the Cuomo stooge at the NY Economic Development Agency described his own policy as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed." Then, Cuomo's expected tax revenues took another dive into red ink with latest report. "A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the second month in a row as new orders worsened, while core inflation rose at its highest pace in three years."
This business contraction affects the revenue increases which finance Cuomo's spending in his budget. The Comptroller in his "Report on the State Fiscal Year 2011-2012" says a "structural imbalance" exists because general fund spending growth is still more than double projected revenue growth. Cuomo had balanced his budget with imagined revenue increases and Cuomo used temporary sources for 14.7% of his budget revenue, such as, Federal stimulus money (threatened in present federal debt debate), "voluntary contributions" from NY Power Authority and other authorities (they'll charge you higher rates) and delaying paying NY State Income Tax refunds. Cuomo's unrealized revenue fantasies reported by the Comptroller include:
1. Personal Income tax receipts in 2011-2012 will increase $2.9 billion or 7.9% (but, see decreased employment reported above)
2. User taxes and fees (sales and tobacco taxes)will increase $467 million or 3.3 % (but, see tobacco tax increase will fail link 1 link 2 and workers earning less or unemployed spend less)
3. Business taxes will increase $894 million or 12.3% (but, see above business results)
4. Payroll Tax will increase $63 million or 4.6% (but, rising unemployment including State layoffs decrease payrolls)
The total fantasy budget's revenue increases of $4.3 billion dollars will not materialize. A budget shortfall of $4.3 billion dollars must be borrowed this year.
When Cuomo borrows this $4.3 billion, will the bond rating agencies downgrade NY debt and force up borrowing costs in the Cuomo budget, or will they understand that Cuomo meant well? What will happen when those other things that Cuomo forgot to fund in his budget need borrowing to fund them, such as:
1. New York Pension Books are Cooked
2 The Cuomo 2011-2012 Budget proposes to "eliminate a $10 billion dollar deficit without raising taxes or borrowing" and then is borrowing $5.6 Billion dollars.
3. Cuomo has a "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."
4. Cuomo's budget used the "Madoff-like" assumption of a 7.5% safe return on pension investments. and continues to allow borrowing to fund contributions.
5. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.
6. Cuomo forgot what happens when New York's bond rate rises and NY's borrowing costs move up from $5.6 Billion $18.8 Billion.
All of the above ignores the Medicaid fraud by NY State, which Cuomo defended as NY Attorney General, and which, if Congress block grants Medicaid, Cuomo could immediately end. See letters to Congress on this blog. link 1 link 2
The following letters were sent to the ratings agencies:
Letters by registered mail: CuomoTARP.blogspot.com July 18, 2011
To: Moody's Investors Service Inc.
101 Federal Street, Suite 1900
Boston, MA 02110
Standard And Poors
55 Water Street
New York, New York 10041
Fitch's
One State Street Plaza
New York, NY 10004
Re: protecting buyers of NY bonds and your potential liability.
Dear Sirs:
Attached is a copy of the latest 7/18/2011 post on CuomoTarp.blogspot.com. The Financial Crisis Inquiry Commission established by Congress had reported on page 25: "We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction." You realize your potential liability, if this occurs with NY State Bonds. There will be lots of angry NY State Bond Holders who will look for compensation for your scienter (knowing) neglect and/or malfeasance, if you fail to act appropriately.
NY Debt per person including local debt for a family of four is about $97,000 (the highest in the USA). Bob Brinker already recommended seniors leave the high tax States. You need to protect NY State Bondholders with truthful ratings
Also consider the Letters to Congress on this blog dated July 12, 2011 and May 23, 2011 which show a proven moral hazard and criminality in NY State Government and the likelihood of financial fraud.
Sincerely yours,
CuomoTARP.blogspot.com
Note: all links are available on the CuomoTARP.blogspot.com website where a copy of this letter is posted.
Attached: Blog post dated July 18, 2011
P.S. Tomorrow's 7/19 post will concern more lack of fiscal irresponsibility by NY Government and its committees and the costs thereof which must be borrowed in this fiscal year.
New York State Requires A $2,250 Per Year Household Tax Increase To Cover It's Pension Costs
The Grim Economic Reaper's toll for public employee pension promises in New York and other states is available in
The following tables are excerpted: (GSP = Gross State Product)
Contributions, Payroll, and Revenues for State and Local Systems
Government Contributions Incl Social Security
Total Payroll Revenues % of GSP per household
New York $65.8 Billions 1.2% $1,738.8
Rhode Island $2.4 1.3% $1,557.3
Hawaii $3.7 1.1% $1,436.4
Virginia $17.5 1.0% $1,374.0
California $108.1 1.0% $1,368.8
Alaska $2.3 0.7% $1,234.7
Illinois $29.3 1.0% $1,215.3
New Mexico $4.7 1.2% $1,180.6
Nevada $5.2 0.9% $1,147.2
New Jersey $26.9 0.7% $1,078.0
Required Increases for Full Funding by State, No Policy Change
Gvt Contributions Required Contribution Increase
Current($B) Total Required Revenue % of GSP per household
New Jersey $3.6 $11.9 1.7% $2,475
New York $13.1 $30.0 1.5% $2,250
Oregon $1.3 $4.4 1.9% $2,140
Wyoming $0.2 $0.6 1.2% $2,080
Ohio $3.1 $12.2 1.9% $2,051
California $19.5 $47.8 1.5% $1,994
Minnesota $1.7 $5.6 1.5% $1,928
Illinois $6.0 $15.5 1.5% $1,907
New York State is the overall winner, when you add the numbers from each table to get the total spending required. And things are worse than they appear because many of the households in New York don't pay taxes, so the $2,250 additional tax required per taxpaying household per year increases. NY Comptroller reports 4.52 million residents out of the total 19.4 million NYS population are Medicaid eligible and thus unable to contribute
by Robert Novy-Marx, University of Rochester/NBER
and Joshua D. Rauh, Kellogg School of Management/ NBER
dated June 2011
dated June 2011
The following tables are excerpted: (GSP = Gross State Product)
Contributions, Payroll, and Revenues for State and Local Systems
Government Contributions Incl Social Security
Total Payroll Revenues % of GSP per household
New York $65.8 Billions 1.2% $1,738.8
Rhode Island $2.4 1.3% $1,557.3
Hawaii $3.7 1.1% $1,436.4
Virginia $17.5 1.0% $1,374.0
California $108.1 1.0% $1,368.8
Alaska $2.3 0.7% $1,234.7
Illinois $29.3 1.0% $1,215.3
New Mexico $4.7 1.2% $1,180.6
Nevada $5.2 0.9% $1,147.2
New Jersey $26.9 0.7% $1,078.0
Gvt Contributions Required Contribution Increase
Current($B) Total Required Revenue % of GSP per household
New Jersey $3.6 $11.9 1.7% $2,475
New York $13.1 $30.0 1.5% $2,250
Oregon $1.3 $4.4 1.9% $2,140
Wyoming $0.2 $0.6 1.2% $2,080
Ohio $3.1 $12.2 1.9% $2,051
California $19.5 $47.8 1.5% $1,994
Minnesota $1.7 $5.6 1.5% $1,928
Illinois $6.0 $15.5 1.5% $1,907
New York State is the overall winner, when you add the numbers from each table to get the total spending required. And things are worse than they appear because many of the households in New York don't pay taxes, so the $2,250 additional tax required per taxpaying household per year increases. NY Comptroller reports 4.52 million residents out of the total 19.4 million NYS population are Medicaid eligible and thus unable to contribute
Oh, somewhere in our favored land the sun is shining bright;
The band is playing somewhere, and somewhere hearts are light,
And somewhere men are laughing, and somewhere children shout;
But here in New York, the taxpayers will strike out
The Cuomo Business Friendly Bubble Bursts
New York beats out California
An asylum for the sane would be empty in NY State Government~Paraphrased from George Bernard Shaw
An asylum for the sane would be empty in NY State Government~Paraphrased from George Bernard Shaw
Cuomo had promised to make New York State business friendly. And Cuomo succeeded in beating California for next to last place in the rankings for States for doing business. The ranking included the comment, "California is not unique in pursuing policies that prompt wealth and job creators to expand elsewhere, (New York being a good example)" Andrew Cuomo's success was due to the following:
1. Cuomo's Pension Reform Is Too Little, Too Late And Fails To Solve New York's Huge Pension Debt Problem
or 2. NY Like NJ Forgot To Fund Retiree Health Benefits And NY Adds $56.3 Billion To Its Unfunded Liabilities
or 3. Will Andrew Cuomo Charm The Bond Market For The State With The Highest Debt Per Person?
or 4. Andrew Cuomo's Hope For Increased Tax Revenues Was False And He'll Run Out Of Cash
or 5. Cuomo's Budget Becomes A Joke As At Least $3.6 Billion Dollars Is Deducted From Illusional Tax Revenues As New York Unemployment Climbs In Every New York Metro District
or 6. Was it Bob Brinker's advice in Andrew Cuomo's Business Friendly Puff Pieces Fizzle As Reality And Medicaid Block Grants Close In?
But do not fear, Cuomo has proclaimed he supports the Hope and Change policies at the Federal level that brought 9.2% unemployment.
"Gov. Cuomo today had kind words for President Obama’s economic policies despite news that unemployment is again on the rise... He will now turn his focus on the issue of “jobs, jobs, jobs” for New York....operational initiatives around economic development issues, and creating 'New York Open for Business' campaign."
Meanwhile the Cuomo stooge at the NY Economic Development Agency became that same person who he had earlier described as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed."
An asylum for the sane would be empty in NY State Government ~ Paraphrased from George Bernard Shaw
Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries
Copy of letter faxed today.
CuomoTARP.blogspot.com July 12, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Honorable Harry Reid, John A. Boehner and others in Congress:
Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. The witnesses and/or Cuomo or Eric Holder are knowledgeable for immediate action this week or next. Eric Holder "maybe" prosecuting, but Andrew Cuomo, as former NY Attorney General defended the crooked NY State employees and knows where and who was taking the fraudulent money.
Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
Medicaid block grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post.
CuomoTARP.blogspot.com July 12, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Re: Save $200 billion dollars a year in Federal expenditures right now and reduce the need to borrow this money, right now.
Honorable Harry Reid, John A. Boehner and others in Congress:
Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. The witnesses and/or Cuomo or Eric Holder are knowledgeable for immediate action this week or next. Eric Holder "maybe" prosecuting, but Andrew Cuomo, as former NY Attorney General defended the crooked NY State employees and knows where and who was taking the fraudulent money.
Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
Medicaid block grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post.
Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud
Copy of letter faxed today.
CuomoTARP.blogspot.com July 5, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Dear Congress:
NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post below.
CuomoTARP.blogspot.com July 5, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance
Re: Save $2 trillion dollars in Federal Budget right now and let Eric Holder fumble later with NY State Medicaid Fraud. Follow up with links to the criminal investigation for recovering NY State's Institutionalized Medicaid fraud.
Dear Congress:
NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/
"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php
Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post below.
Wake Up Time For Time For Congress To Save $200 Billion And End Known NY Fraud
As a follow up to the post below and because the Senate will be in session next week as per Harry Reid, the following fax is being sent to others in Congress and outside in addition to those named in the prior fax.
Copy of Letter faxed:
CuomoTARP.blogspot.com July 1, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance
Dear Congress:
Harry Reid has brought the Senate back next week and the budget deficit must be the target for action. A quick action on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post below.
Copy of Letter faxed:
CuomoTARP.blogspot.com July 1, 2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance
Re: Saving $200 billion a year and $2 trillion dollars over ten years, without harming poor beneficiaries and eliminating fraud. Witnesses, documentation and court filings available for quick action next week.
Dear Congress:
Harry Reid has brought the Senate back next week and the budget deficit must be the target for action. A quick action on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.
Sincerely yours,
CuomoTarp.blogspot.com
cc: others interested in congressional immediate action
attached: June 27, 2011 letter to Congress as seen in blog post below.
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