Gov. Paterson’s second Executive Budget is not nearly as tough as his rhetoric (or the headlines) would imply. But in dollars and cents terms alone, it is relatively restrained and almost fiscally conservative -- by Albany’s low standards, that is. Read More
Advocates of the misnamed “millionaire’s tax” enacted in New York state last year claimed that it would restore “fairness” to a tax code that favored the rich. Read More
The late Democratic Sen. Daniel Patrick Moynihan of New York used to obsess over the flow of funds between the federal government and the states Read More
Thirty-five years ago this month, the state Urban Development Corp. defaulted on its short-term debt -- setting off bond-market alarms that culminated in New York City’s 1970s fiscal crisis. Could the Metropolitan Transportation Authority become this era’s UDC? Read More
Advocates of the misnamed “millionaire’s tax” enacted in New York State last year claimed that it would restore “fairness” to a tax code that favored the rich. Read More
Which will vanish sooner -- New York state’s incredible shrinking cash reserves, or its incredible shrinking chief executive? It could be a photo finish. Read More
In his State of the State message in January, Gov. Paterson announced that Lt. Gov. Richard Ravitch would “take the lead in [developing] a four-year plan for fiscal recovery.” Read More
Like a drunk tempted to go on one more binge at a stressful moment, New York state may soon reach for the debt bottle in the face of mounting deficits. If it does, taxpayers will feel the hangover for a generation. Read More