Governor Paterson went before a congressional committee today to call for a federal stimulus package to aid financially troubled states–including this pitch for added funding for infrastructure repair:
We in New York have many programs involving roads, bridges, infrastructure development and also water waste treatment that are ready to go. If we had the dollars to actually begin [with], we would have 40 shovel-ready programs for improving highways and bridges. We would have another 58 programs ready to go in the area of water projects. [emphasis added]
The problem, of course, is that New York’s shortage of infrastructure repair dollars is largely its own fault. Thanks largely to booming (and heavily leveraged) Wall Street profits, the state’s all funds tax receipts grew by 42 percent between fiscal years 2003-04 and 2007-08. But the Legislature and Governors George Pataki and Eliot Spitzer (with Paterson in the mix) managed to spend the money on practically everything other than roads, bridges and waste-water projects. As noted in this City Journal article:
Incredibly, Albany managed to go more deeply into debt, increase its long-term liabilities, and shortchange core transportation infrastructure needs even while the good times rolled.
And now the rest of the country owes us a handout?
About the Author
You may also like
New York’s Medicaid costs are soaring at double-digit rates
New York's already high Medicaid spending is growing at a double-digit rate for the second year in a row, recently released state figures show.
After dipping during the first year o Read More
Budget’s Historic Spending Hike Shown in Financial Plan Update
Amidst spiking inflation, a market downturn and recession fears, state spending will soar to new heights under the April budget deal, as per (Plan) that the Governor’s budget office quietly i Read More
Minimum wage for home care aides is likely to mean bigger raises for downstate than upstate
The newly enacted wage hike for home care aides is likely to increase workers' pay more than three times as much in the New York City area as in other parts of the state, according to a review of labor data.
Read More
The flawed arguments behind ‘Fair Pay for Home Care’
As they contemplate a major increase in Medicaid spending on home care for the elderly and disabled, state legislators are relying on information that's outdated, incomplete or inaccurate – and neglecting to think through the predictable consequences. Read More
The debate over Medicaid home-care funding needs a reality check
The push in Albany to boost wages for home health aides is seemingly disconnected from the larger realities of the state’s long-term care system.
As they , officials in the home care industry are warning that the state faces an of in-home caregivers Read More
Answers needed on Governor Hochul’s health-care budget
The health-care agenda laid out by Governor Hochul in her budget proposal this week leaves a lot of questions unanswered. Here are a few of them. Read More
Another Hochul To-Do: Timely Financial Reporting
The state will spend a record $212 billion in the current 2022 Fiscal Year, under the budget its elected leaders adopted in April. Read More
Health Research Inc. Turns Over its Payroll Records Despite Claiming To Be Exempt from FOIL
The full payroll records of more than 2,400 de facto state employees are available to the public for the first time after being released by Health Research Inc. Read More
Enjoying our work? Sign up for email alerts on our latest news and research.
Together, we can make New York a better place to live and work!