The Cuomo administration recently revealed that New York’s Medicaid program is running over budget by an astonishing 16 percent, or $4 billion, even though enrollment is flat and medical inflation is at historic lows.
This seemingly out-of-nowhere spending spike has triggered the Empire State’s worst fiscal crisis since the Great Recession. It raises an awkward question for fans of single-payer health care in Albany: If state government can’t properly manage the fraction of the health-care system it already controls, why should it be trusted to take over the whole thing? [Read_more]
Elizabeth Warren is an unabashed believer in wealth redistribution, so it was predictable that her Medicare for All plan would hit high-income individuals and large corporations with trillions in tax hikes. More surprising are the two other targets she chooses to soak: states that spend most heavily on Medicaid, and employers that offer the costliest health benefits. [Read_more]
The Cuomo administration has admitted there is a “structural imbalance” in its massive Medicaid budget, which means the Empire State’s biggest single government program is spending beyond its means.
So, what does Gov. Andrew Cuomo plan to do about it? Some hint of the answer might be forthcoming in a midyear financial update — whenever, that is, Cuomo gets around to issuing one as required by law.
Is the city’s biggest bank getting ready to flee? That worrisome question flared up this week following a Bloomberg News report that JPMorgan Chase & Co. — the largest private employer still based in the city — may move thousands of jobs from New York to its other outposts, including in Texas, Ohio and Delaware.
In fact, although the bank itself didn’t officially comment, it seems clear the reality is not so dire. JPMorgan isn’t abandoning its ancestral home — not yet, anyway. [Read_more]
Last April, lawyers for private kindergarten through grade 12 schools found themselves defending, before a state trial-court judge, private and religious schools’ right to operate. The lawyers, representing Jewish, Catholic and nonsectarian independent schools, were challenging sweeping new State Education Department edicts that would effectively force private schools to perform as de facto public schools. [Read_more]
After a decade of political and judicial setbacks, government-employee labor unions want Congress to end-run state laws they see as limiting their privileges. And powerful Dems seem ready to oblige. [Read_more]
Last week’s surprise resignation of the state education commissioner, MaryEllen Elia, leaves New York schools at a crossroads. Depending on whom the Board of Regents selects to succeed Elia, the commissioner can serve as a force for reform or for preserving a troubled status quo. [Read_more]
When lawmakers in Albany passed the state budget last spring, Gov. Andrew Cuomo declared it “both timely and fiscally responsible.” Timely was true enough. But fiscally responsible? Not so much. [Read_more]