New York’s $142 billion budget, enacted on April 1, authorizes the state to spend at a rate of $4,503 per second during its 2015-16 fiscal year, according to the Empire Center’s updated Spend-O-Meter.
Visitors can see the rate of total state spending translated in realtime segments on the Center’s Spend-O-Meter webpage: EmpireCenter.org/Spend-O-Meter.
“New York state government is spending an enormous amount of money, and the Spend-O-Meter helps put that number into a context people can more easily understand,” said Tim Hoefer, executive director of the Empire Center. “Florida, which has now surpassed New York’s population, spends barely half as much as New York.”
New York’s all-funds budget, which includes revenues from both state and federal sources, has doubled since fiscal year 1985, when the state spent $71.3 billion (2015 dollars).
The Empire Center is a non-partisan, independent think tank based in Albany.