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
By wrapping up a gambling agreement with the Saint Regis Mohawk Tribe this week, Governor Cuomo moved another step closer to implementing his “resort gaming destination plan,” which he says can “supercharge” economic development. Read More
Governor Paterson is reportedly close to striking a deal with state employee labor unions under which the governor will drop his plan to layoff off over 7,000 state workers in exchange for the unions' acquiescence to (a) Read More
If the Congressional Budget Office (CBO) is right, Governor David Paterson's economic and fiscal projections for New York State are not gloomy enough. The CBO expects higher unemployment and a somewhat slower recovery than Paterson's budget has pro 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
Almost all of can be traced to falling tax receipts. But rising spending will represent a growing share of the problem over the next three years. In fact, more than one-third of the projected growth in next year's gap, and over half the Read More