Contact: Matt Smith
(518) 434-3100
New York’s new $121 billion budget spends at a rate of more than $331 million per day, according to an analysis released today by the Empire Center for Public Policy.
State spending under the new budget — the portion of the spending plan financed by state taxes, fees and all other non-federal revenues — includes a near-9 percent hike over last year that is three times the rate of inflation.
To illustrate just how quickly state spending is happening under the new budget, the Empire Center is using a “Spend-O-Meter,” found here:
Calibrated to Gov. Spitzer’s estimate of $120.9 billion in “all funds” spending under the enacted budget for the 2007-08 fiscal year, the “Spend-O-Meter” spins at the following rates:
$3,834 per second
$230,023 per minute
$13,801,370 per hour
$331,232,877 per day
$2,325,000,000 per week
$10,075,000,000 per month
“Under this year’s budget, our state government will spend more every 12 seconds than the average worker earns in a year,” said E.J. McMahon, director of the Empire Center.
You may also like
132 NYSLRS Retirees Receive Pensions Over $200K in FY2026
A total of 132 retirees from the New York State and Local Retirement System (NYSLRS) were eligible to collect $200,000 or more in pensions during the 2026 fiscal year, according to , the Empire Center’s government transparency website.
Among the 132 Read More
Empire Center Poll: Just 4 Percent Approve of New York’s Education System
ALBANY, N.Y. — New Yorkers gave the state’s education system a sweeping vote of no confidence: 47 percent said the state should improve student performance, 41 percent said it should improve performance while spending less, and only 4 Read More
New York’s electricity prices climb to third highest in the U.S.
FOR IMMEDIATE RELEASE
ALBANY, N.Y. — Empire Center’s shows New York households paid the third-highest residential electricity prices in the country in May 2026, trailing only Hawaii and California.
The latest U.S. Energy Information Administra Read More
Port Authority Payroll Passes $1.2B as 20 Employees Collect $400k+
Twenty Port Authority of New York and New Jersey (PANYNJ) employees collected more than $400,000 each in total pay last year, while average pay agencywide rose three percent, according to , the Empire Center’s government transparency website.
The Por Read More
NYC Employee Pension Payments Rise To $6.2 billion
The pension plan covering most New York city government agencies, including the City’s subway system, had 62 members with pension payments of at least $200,000 last year, according to , the Empire Center’s transparency website.
According to the d Read More
Empire Center Poll: New Yorkers Prioritize Low Energy Prices and Have Little Appetite for Radical Climate Policies
FOR IMMEDIATE RELEASE
ALBANY, N.Y. — New Yorkers across political, geographic, age, and income groups oppose energy and climate policies that raise energy prices or force changes on homeowners, according to new Empire Center analysis Read More
New York’s Electricity Prices Fourth Highest in the Country
New York households are paying the fourth-highest electricity prices in the country, according to the Empire Center's In April 2026, residential electricity prices in New York averaged 29.45 cents per kilowatt-hour - 56 percent above the national average Read More
Fourteen NYC Educators Receive Over Half a Million Dollars in Pensions
Fourteen retired New York City educators received more than $500,000 in pension benefits in 2025, according to , the Empire Center’s government transparency website.
The data was obtained from the New York City Teachers’ Retirement Read More