Borrow And Spend Republican Senate

The Times Record printed an editorial today outlining the irresponsible election year budget passed by the legislature this year.

It seems that all the gloating by the Republican leadership of the State Senate was all hat and no cowboy. Read on, but scan your anger management refresher course pamphlet first.

The state comptroller presents a disturbing report on state spending and debt

First published: Thursday, July 13, 2006

Remember that scene in early July, when the legislative session wrapped up and Gov. Pataki, Senate Majority Leader Joseph Bruno, R-Brunswick, and Assembly Speaker Sheldon Silver, D-Manhattan, were patting themselves on the back for accomplishing so much this year? Back then, it appeared as if everyone got something, even if everyone had to give a little. So it was victory toasts all around.

But that was then. Now it turns out that not everyone was a winner after all. There happens to be a big loser -- you, the taxpayer. On Tuesday, state Comptroller Alan Hevesi released a report that shows just how much deeper the state's three top leaders have put you in the hole. You may want to pull out your pocket calculator before you read on.

Some other highlights:

There's more bad news: The much touted budget surplus of this year will morph into deficits over the next two years, to as much as a total of $13.9 billion. And if that isn't bad enough, the comptroller has determined that $2 billion in surplus monies from the 2005-06 budget were spent not on one-time costs, as economists suggest, but on day-to-day expenses -- a formula for fiscal disaster.

The truly staggering bottom line, though, is how much debt the average New Yorker is on the hook for. Mr. Hevesi calculates that $1.8 billion in new debt was added in the final days of the session, for a total of $16.5 billion in new debt authorized in the 2006-07 budget year. Tack that on to the state's already heavy debt burden, and the total outstanding debt could reach $65 billion by 2010-11, the comptroller says.

It's no coincidence that all this spending has occurred in a year when all legislators are facing re-election. Nor is it any secret that Republicans in the Senate, who normally hold the line against spending initiatives, are worried about keeping their majority this year. So that explains the Legislature's largess.

The system of irresponsible government in Albany is destroying the financial health of our state and we need to fix it NOW.

We need a NEW team for a NEW New York.