Oh No! I have to reverse all of my glowing recommendations for Governor Paterson. I really thought that he was going to get things done and he has failed all of us New Yorkers. NY's 2009-2010 budget at $132,000,000,000 is $11,000,000,000 more than the current budget. How could this be possible in the face of the economic calamity that has befallen our state? How could Paterson abandon all of his impassioned pleas for fiscal discipline? What happened to making the hard choices now to ensure the future fiscal viability of the state?
Until last year, I did not know that Wall Street revenues contributed approximately $20,000,000,000 or 1/5th of the state budget. It is definitely certain that this level of contribution will not be attained again for quite some time. The new budget proposal includes approximately $6,000,000,000 in federal aid and another $7,000,000,000 in new fees and taxes. I am simply shocked that no provisions have been made to account for the upcoming shortfalls that are all but certain in the coming years. When our West Coast cousin, California, is on the verge of collapse and the Federal Government borrowing heavily to prop up the entire financial system, any rational human would expect some serious budget cuts. We cannot depend on the Federal Government to continue to provide aid at current levels.
Besides, with an approval rating of 26%, what did Paterson hope to gain by risking the ire of the wealthiest New Yorkers? Now don't get me wrong, those earning over $300,000 probably can afford to pay a few more taxes but when the budget does not contain any real effort to cut expenses, it does not seem fair. Fairness is always key in the tax equation. But then again, the wealthy folk and the rest of us don't count, do we? It seems that public employees and unions are the key to an election in New York State and without those unions, your star is all but faded.
Paterson's star has been faded for so long, how about going down a hero? It does not seem that there can be enough pandering for him to reverse his political fortune and be elected governor for an official term. Now, I don't think like most people but I would wager that a good budget would have been applauded by the rank and file; we would weather the cuts because we have to. Instead we will have to pay more to register our cars, renew our licenses, pay more for health insurance and property taxes, pay more for transportation and everything else.
My goodness, how much do the regular people of New York have to suffer and why do we have to pay so much while doing so? Will New York continue to be worth the hype? I guess it will so long as you have money, work for a union, or are simply flat out poor, you can stay. As long as the budget process remains broken, the legislature remains mired in political shenanigans and the power brokers reek what they sow, the rest of us in the middle class and the young people who don't see a viable economic future may truly have to leave; that does not bode well for the future viability of the state. And Long Island, Fuhgetaboutit!
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