Now, there is Joy in Albany as Andrew Cuomo passes his budget and Cuomo comes to bat. But, all the flaws reported in this blog in Cuomo's Executive budget are still there. Most importantly, New York will run out of cash because of
1. fantasy revenue predictions.
2. $3.6 billion in required spending is missing from the budget .
3. Cuomo's hidden taxes on business will discourage new business in New York.
4. Cuomo has ignored the pending suit to increase judges pay and its additonal cost to the State.
5. Counties and Cities will have to raise taxes to pay their 9.4% increase in Medicaid costs which is the largest expense in their budgets?
But, Hope as Cuomo comes to bat:
Then from 5 million throats and more there rose a lusty yell;
It rumbled through the Hudson valley, it rattled in the Albany dell;
It knocked upon the Adirondack mountains and recoiled throughout the State,
For Cuomo, mighty Cuomo, was advancing with his budget's plate.
There was ease in Cuomo's manner as he pranced into his place;
There was pride in Cuomo's bearing and a smile on Cuomo's face.
And when, responding to the cheers, he lightly doffed his hat,
No stranger in the crowd could doubt 'twas Cuomo at the bat.
Ten million eyes were on him as he rubbed his hands in Albany's dirt;
Five million tongues applauded when he wiped them on his shirt.
Then while the writhing tort lawyer ground the ball into his hip,
Defiance gleamed in Cuomo's eye, a sneer curled Cuomo's lip.
And now the cap on medical malpractice sphere came hurtling through the air,
And Cuomo stood a-watching it in haughty grandeur there.
Close by the sturdy batsman the malpractice cap unheeded sped-
"That ain't my style," said Cuomo. "Strike one," the doctors said.
From the crowds, black with people, there went up a muffled roar,
Like the beating of the storm-waves upon Long Island's shore.
"Kill them! Kill the lawyers!" shouted someone in the band;
And it's likely they'd a-killed them had not Cuomo raised his hand.
With a smile of Christian charity great Cuomo's visage shone;
He stilled the rising tumult; he bade the budget farce go on;
He signaled to the mandate relief pitcher, and the mandate relief spheroid flew;
But Cuomo still ignored it, and Steve Levy said, "Strike two."
"Fraud!" cried the maddened millions, and the echos answered fraud;
But one scornful look from Cuomo and the People were awed.
They saw his face grow stern and cold, they saw his muscles strain,
And they hoped that Cuomo wouldn't let a ball go by again.
The sneer is gone from Cuomo's lip, his teeth are clenched in hate;
He pounds with cruel violence his silver spoon upon his plate.
And now the Chinese Debt Master holds the ball, and now he lets it go,
And now the air is shattered by the force of Cuomo's blow.
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 there is default in Albany — mighty Cuomo has struck out.
Would you buy NY Bonds knowing?
New York State Debt per person including local debt is $24,195. For a family of four that is about $97,000. That is the highest in the USA. And surprise, Cuomo's budget revenue predictions were a farce.
