Quick Partial Index (all are links) To Cuomo's Corruption And Its Cost


Letter to Super DEBT Committee - Save $2 trillion dollars without harming Medicaid beneficiaries. link

Letter to Congress: save $200 billion in Medicaid in this year's budget.
link link
Congress notified of NY medicaid fraud by NYS link

Even with wildly optimistic pension earnings predictions, New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link

A. Latest on Chapter 10 Bankruptcy link 1 Link 2
B. Cuomo Budget Link 1 Link 2
C. NY Bonds Link1 Link 2 Link "Writing on Wall"

Cuomo as Governor
Medicaid Redesign Team: Medicaid Budget increases, not decreases Cuomo's Lobbyist Crony Heads Medicaid Redesign.
Cuomo's Lobbyist Crony renamed Consultant and all is well

1. Cuomo Stars as Captain Renault in Casablanca remake and link 2 Cuomo's repeat performances

2. Cuomo fails to follow Brown and cut his budget by 25%

3. More Cuomo fails to equal California's Brown

4. How States go bankrupt.

5. Cuomo and Medicaid headed nowhere

6. Look at Alternate currency: A Ron Paul, a $3 Cuomo, a California IOU

7. Cuomo's credit card taken away.

8. New Chapter 10 Federal Bankruptcy for States.

9. The new $3 Cuomo I.O.U.

10. Cuomo and NY Bondholders See The Writing On The Wall

11. New York Bankruptcy and Bond Devaluation

12. Cuomo Loads Up His Band Wagon With Committees For The Downhill Race With California

13. Ponzi to Madoff to Hevesi to DiNapoli; New York Learns About A Phony Safe 7.5% Pension Return

14 Economic Laws Lead Andrew Cuomo To A Hard Fall

15. Cuomo Meets "The Ghost Of NY Yet To Come"

16. Fiscal Disaster As Andrew Cuomo And His M.O. Are Slapped Down By Chinese Reality Checks

17. The New Word Order, "Nixon/Blogo/Cuomo" Predicates Andrew Cuomo's Fate

-Cuomo's prior corruption-

18. Cuomo Perfected His M.O. At HUD With $59 Billion Unaccounted For ; stealing the poor guys blind; Medicare $1.2 billion per year fraud; Multiple $50,000 bribes; Cuomo bungles criminal trial, rich executives walk;

19. The Second Cuomo's Smoking Gun: AEG Victory Celebration Needed Rev. Sharpton And Andrew Cuomo In The AEG Bag

20. Cuomo's Corruption Allowed $400 Million To Be Added to $1.2 Billion In NY Medicaid Fraud To Be Refunded By NY State To Federal Government

21. Andrew Cuomo Kisses And Makes Up With The Albany Swamp's Legislature Vermin, Reprobate Politicians, A Whore and Charles Rangel, Ashley Dupre, boss Vito Lopez, David Paterson, as obedient house boy, Andrew Farkas, who Cuomo accused of paying millions in kickbacks, and Allen Isaac (sex predator)

22. Sex Predator: Cuomo can clean his own nest

23. Cuomo changes pay to play to indirect payment and we're fooled

24. Cuomo bungles criminal prosecution

25. Cuomo covers up NY corruption

26. Cuomo covers up missing 9/11 Red Cross Money

27. $1.2 trillion loss resulted from the 50 % of $2.4 trillion in loans ordered by Cuomo at HUD, *Cuomo's smoking gun

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New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee?

Who pays the bonds off, when the taxpayers flee.

     Did the media (including Fox News), the politicians of both parties and the media pundits lie to you that the US would/could default on its debt?   Alan Greenspan said on Sunday,""The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default."

  Are New York politicians or the sycophant New York media to be trusted?   Will New York debt be downgraded?  Unlike the federal government, New York can quickly default.

     Here's a buyer's guide to New York State bonds or more likely a seller's guide:
1.NY Businesses Howl At $21.25 Per Worker, While Cuomo's Budget Will Require An Additional $478 Per Worker In November.   

2.   New York State has the highest debt per person in the USA ($24,195) and the second highest taxes per person ($6,884).   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."

3. Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person.  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."

4. Rating Agencies Informed As Cuomo's Budget's Imagined $ 4.3 Billion In Revenue Increases Disappears

a. 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."

b. 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."

c.  This business contraction affects the revenue increases which finance Cuomo's spending.  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.

d. Cuomo's unrealized revenue fantasies reported by the Comptroller include:
    i. Personal Income tax receipts in 2011-2012 will increase $2.9 billion or 7.9% (but decreased employment reported)
    ii. User taxes and fees (sales and tobacco taxes)will increase $467 million or 3.3 % (but tobacco tax increase will fail link 1  link 2 and workers earning less or unemployed spend less)
   iii. Business taxes will increase $894 million or 12.3% (but business declines)
   iv. Payroll Tax will increase $63 million or 4.6%  (but, rising unemployment including State layoffs decrease payrolls)
  A budget shortfall of $4.3 billion dollars must be borrowed this year.

5.  New York Pension Books are Cooked

6. 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."

7. 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.

8. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.

Finally, 9. Who'll repay the bonds? New York Exodus As Tax Payers Flee At The Highest Rate In USA.    New York State businesses also will flee.   Small-business lobbyist Mike Durant noted, New York has "consistently ranked worst or in the top three worst in business climate. You can't suck every penny out of people and expect them to remain in New York."

cc: Moody's, Fitchs , Standard and Poors 

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