And so, Andrew Cuomo is going to own his budget as his supporters outspend the opposition. Cuomo's media shill, Fred Dicker, expects that Cuomo will win with short extender budgets while blaming a government shutdown on Sheldon Silver and the Legislature. But Cuomo's and Dicker's $10 billion dollar projected deficit is just a gross underestimation. More and more NY layoffs will continue to increase NY unemployment from the 9% reported in blog post below and Cuomo's fantasy revenue predictions will not materialize.
Recent News Reports are a sample of New York layoffs:
GM has more layoffs in NY.
Saranac Central School District has no reserves and layoffs needed
Ausable Central School district has low reserves and layoffs will be needed
Cohoes City school district proposes layoffs
Does Cuomo really believe voters who now have the highest Cost of Living ever are in the mode to locally vote to increase taxes to prevent school layoffs or that School Districts are awash in cash?
Cuomo's problem, which Fred Dicker may not comprehend, is that tax revenues are going down and the $1 billion in the red already reported by Comptroller DiNapoli from this year has to be borrowed and all new layoffs further decrease his income tax revenues. Also, tax revenues decrease on businesses producing less with less workers. And Cuomo's fantasy prediction of the budget growth in tax revenues of $2.6 Billion dollars will disappear and have to be funded by more borrowing. New York will just run out of cash to pay bills and allocate funds.
See California I.O.U. link and a California I.O.U. below
See Cuomo's Credit Card Taken Away.
