More bad news on state budget

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Just what the state needs: another dose of bad financial news.

Comptroller Tom DiNapoli reported today that tax collections last month were 44 precent less than a year earlier, and about $239 million below what Gov. Paterson projected last month.

“This was a poor start to the fiscal year,” DiNapoli said. “It’s been less than a month since the state’s financial plan was released, and general-fund revenues are already off nearly a quarter of a billion dollars.”

He warned that the state has already tapped most of its reserves, “so there is very little cushion if revenues continue to fall.” He urged leaders to “watch revenues and spending very closely.”

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3 Comments

  1. Azzholes! They basically cut nothing; they in effect RAISE spending; they drive people who pay the MOST taxes out of the State; they allow the unions, especially the teachers, to go crazy in return for money and votes; they take good care of themselves – finding one who has been there any amount of time and is not a millionaire “public servant” by dint of political shenanigans is virtually impossible. They point fingers at each other and take NO responsibility. And all this is true on the LOCAL as well as the State level. Next comes the HUGE tax increases. They have no other answer! We are being led by an Army of Daffy Ducks and Neville Chamberlains. Soon, the bombs fly. Take cover if you can find it.

  2. It’s no big deal. Just impose a 24% excise tax on Rice Crispies and Fruity Pebbles. That should raise enough revenue right?

    Just keep taxing more and more. It’s an endless supply of free money.

    Remember according to these monkeys the State governments principle job is to employ people. We can’t cut government spending now can we!

    Morons. How any of these fools continue to get re-elected is beyond me…

  3. Our Comptroller, who is responsible for untold billions and billions of dollars, is a former hack Assemblyman, and holds a BA in history and a masters in “Human Resources.” That should tell you something about how this State is governed. The fact that he saw years ago that the State was on the road to bankruptcy speaks to his “street smarts,” something that the average taxpayer shares, but the legislature doesn’t. He talks a good game, but has shown himself to have no influence with the self-serving legislature and has accomplished nada. It’s like the Mets voting Jose Reyes as Secretary of the Treasury.