Month: October 2008

California may have to ask the federal government for a $7 billion loan by the end of the month just to pay for basic services like police and firefighting, Gov. Arnold Schwarzenegger last Thursday. New York City readers may have shuddered, as the r Read More

As E.J. notes in the post below this one, Gov. Paterson says he thinks Wall Street bonuses could be down as much as 60 percent, higher than his budget office's expected 43 percent decline. To put this estimate in perspective: after the tech bubble Read More

New York is twice impacted by the collapsing world of complex finance: first for the obvious reason and second because in recent years, it has structured much of its own $54 billion in debt in a way that makes the city more acutely vulnerable to int Read More

An anonymous Paterson Administration official is in today's Albany Times Union as predicting that the governor's budget proposal would include an “aggressive set of cuts” that will leave “blood in the streets.”   Maybe he meant ke Read More

As shown below, the highest-earning 1 percent of taxpayers (those with incomes above $750,000 or so as of 2007) accounted for nearly 40 percent of New York's total state income tax liability last year -- up from around 27 percent in the mid-1990s.  Read More

The Post's Fred Dicker today that Paterson administration budget officials now believe New York State's 2008-09 budget gap will be in the neighborhood of $7 billion, up from a projected $5.5 billion in the wake of the Legislature's August s Read More

An anonymous Paterson Administration official is in today's Albany Times Union as predicting that the governor's budget proposal would include an “aggressive set of cuts” that will leave “blood in the streets.”   Maybe he meant ke Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.