There’s an obvious place to start in New York: Freeze state and local government employee pay. The combined estimated savings for every level of government could at least be a down payment on the massive reductions that will be necessary in the year ahead — and probably for years to come. Read More
With any luck, the coronavirus will be a fading memory by summer. But by then, massive (if temporary) damage will already have been done to the state and regional economies. The Empire State and its local governments, including Gotham, will have to confront a fiscal crisis as intense as the current public-health emergency. Read More
This week’s stock-market plunge amid mounting fears of a global economic slowdown triggered by the coronavirus couldn’t come at a more crucial time in New York state’s budget-making process. Read More
Virginia Democrats are poised to legalize collective bargaining for government employees. In November Democrats brought Richmond under their total control for the first time in more than a quarter-century. The new legislative majorities seem intent on ignoring the painful lessons of New York state’s half-century experiment with government unions. Read More
From a statewide perspective, New York’s economic performance since the end of the Great Recession hasn’t been especially outstanding, roughly equaling the U.S. averages for growth in private employment and GDP, while slightly trailing the national rate of increase in personal income since early 2009. But a closer look at the numbers reveals a tale of two New Yorks. Read More
In 2020, the biggest headache facing Albany will be Medicaid, the state-run health plan that covers more than 6 million lower-income and disabled New Yorkers. As revealed last month, Medicaid is running 16 percent over budget—opening a $4 billion deficit in the state’s current financial plan and contributing disproportionately to a $6.1 billion gap for the fiscal year that begins April 1. Read More
Instead of properly managing Medicaid, the state’s biggest and most important program, Cuomo subverted his own reforms, whitewashed official reports, withheld information from the Legislature and the public, flouted his constitutional duties and, worst of all, secretly delayed $1.7 billion in payments from one fiscal year to the next. Read More
New York State is facing its biggest budget deficit since Gov. Cuomo took office at the end of the Great Recession — but you’d never know it from watching or listening to the Board of Regents, the state’s education policy-making body. Read More
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
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