Obama hands NY a Medicaid bomb by E.J. McMahon | | NYTorch

With the stroke of a pen, President Barack Obama has just put added pressure on the second-biggest category of New York’s state operating funds budget—Medicaid.

Obama’s recent executive order on immigration could drive up New York’s Medicaid costs by $1.1 billion to $2 billion, state Senate Majority Leader Dean Skelos warned in a letter yesterday to the state’s U.S. senators.

Pension $$$ surprise in post-election budget report by E.J. McMahon | | NYTorch

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New York’s state government pension costs will be nearly $1.6 billion above previously projected levels over the next four years, according the Mid-Year Financial Plan Update that was finally issued today—11 days behind schedule, and nearly a week after Election Day—by Governor Andrew Cuomo’s Division of the Budget (DOB).

Cuomo blocks vets’ pension sweetener by E.J. McMahon | | NYTorch

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Calling it an "oppressive unfunded mandate" that would impose $57 million in "near term obligations" on local governments across New York State, Governor Cuomo has vetoed a bill that would have allowed public employees to claim up to three years worth of pension service credit for time spent in peacetime military duty.

“Smart” sounded good to 62% by E.J. McMahon | | NYTorch

Who could be against “smart schools”?

The unsurprising answer: not nearly enough New Yorkers to defeat Proposal 3 on yesterday’s statewide ballot, which authorizes $2 billion in state borrowing to finance local school district purchases of computers and other classroom technology; expand schools’ high-speed and wireless Internet capacity; install “high-tech security features”; and build new classrooms for pre-kindergarten programs.

Cuomo late again with fiscal report by E.J. McMahon | | NYTorch

Governor Andrew Cuomo, who frequently cites his success in producing “on-time budgets,” is once again behind schedule in releasing the statutorily required Mid-Year Update to the New York State’s financial plan.

The Mid-Year Update for fiscal 2014-15 was due Oct. 30, last Thursday, under Section 23.4 of the State Finance Law.* As of Election Day morning, no update had appeared on the website of the governor’s Division of the Budget (DOB).

How have past bond proposals fared? by E.J. McMahon | | NYTorch

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Over the past 50 years, New York voters have been presented with 23 general obligation bond issues, including this year’s proposal to borrow $2 billion for school technology and the building of pre-kindergarten classroom space. The outcome of the last 22 votes is evenly split, with 11 proposals passing and 11 failing.

Benchmarking the incumbent by E.J. McMahon | | NYTorch

Gov. Andrew Cuomo’s re-election bid is based on the assertion that he has “turned around” New York. However, the economic data pain a more mixed and muted picture of the state's recovery during his tenure.