Index Investing News
Tuesday, September 2, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

New York lawmakers’ spending spree will bankrupt the state

by Index Investing News
March 15, 2024
in Opinion
Reading Time: 3 mins read
A A
0
Home Opinion
Share on FacebookShare on Twitter



State lawmakers must be smoking some of that wacky tobacky they legalized, because the one-house budget bills they passed this week are utterly off the rails.

The bills came in response to Gov. Hochul’s spending scheme and upped her $233 billion bottom line by a jaw-dropping $13 billion.

Lawmakers are looking to shell out nearly a quarter of a trillion bucks — $246 billion — for the state fiscal year starting April 1.

It’s pure madness — an Olympic leap of $73 billion, or about 42%, over just five years ago.

Heck, Bidenflation looks tame by comparison: Prices have risen “only” 23% in that time.

But then, money grows on trees, right?

More From Post Editorial Board

Much of the lawmakers’ outlays would go to the state’s education and health-care industries, whose unions lord over Albany lawmakers.

The Assembly, for example, adds a whopping $5.1 billion to Hochul’s $45.8 billion for the State Education Department.

Both houses add billions to Medicaid spending, rejecting even the gov’s modest curbs to a runaway multibillion-dollar personal-care aide program that’s seen massive fraud and soared 1,200% since 2016.

Never mind that New York’s per-capita Medicaid costs are the highest of any state, and 70% above the national average, per the Empire Center — totaling $83.4 billion in 2022.

Keep up with today’s most important news

Stay up on the very latest with Evening Update.

Thanks for signing up!

And some of lawmakers’ “smaller” tack-ons are full-on drunken-sailor:  

  • $80 million for a new “Cannabis Rescue and Relief Fund” to help the weed industry — even while lawmakers refuse to make it easier to close illegal pot shops, which would help legal sellers.
  • $10 million for toll-free calls for inmates — even as the Assembly would defund state police vehicles and equipment to fight retail theft by $7.4 million.
  • $10 million for a minority- and women-business startup venture capital fund.
  • $5.1 million for “various labor initiatives” (read: pork).
  • $175 million for health care for illegal migrants.

The legislation is also filled with all kinds of new tax hikes and other tools to suck in more cash for their profligate plans.

Yet Albany faces more than $15 billion in red ink over just the next few years.

The tax hikes will only speed up the exodus of taxpaying New Yorkers; they won’t come close to closing the gaps.

The radical takeover of the Legislature over the past few years has subjected New Yorkers to enormous misery — from the growth of crime, to the ever-present stench of pot, to the explosion of homeless and mentally ill people on the streets.

If the Democratic majorities get even fraction of what they’re seeking, you can add a looming budget crisis to that.  



Source link

Tags: BankruptLawmakersSpendingSpreestateYork
ShareTweetShareShare
Previous Post

China Housing Prices Continued To Slump In February

Next Post

RD Management Taps JLL to Lease 1 MSF Mall Conversion

Related Posts

Trump must deploy the Nationwide Guard to Chicago instantly!

Trump must deploy the Nationwide Guard to Chicago instantly!

by Index Investing News
September 1, 2025
0

On Monday, President Trump signed an govt order ending cashless bail nationwide and creating rapid-response Nationwide Guard models that may...

Seize this opportunity to make it daring and delightful

Seize this opportunity to make it daring and delightful

by Index Investing News
September 1, 2025
0

The bundle not solely clearly articulates the Centre’s imaginative and prescient of a reformed GST, but in addition pushes all...

Scientifically Talking: You’re what your intestine microbes eat

Scientifically Talking: You’re what your intestine microbes eat

by Index Investing News
September 1, 2025
0

Crucial dinner company at your desk tonight gained’t pull up a chair or have interaction in chitchat. They're your intestine...

How I Keep Disciplined With Cash With out Being Excellent

How I Keep Disciplined With Cash With out Being Excellent

by Index Investing News
September 1, 2025
0

Let’s be trustworthy: you don’t want one other “excellent funds” template or some one-size-fits-all cash hack. You don’t must deprive...

What we ignore whereas we’re speaking about President Biden –
Las Vegas Solar Information

What we ignore whereas we’re speaking about President Biden – Las Vegas Solar Information

by Index Investing News
September 1, 2025
0

Saturday, Could 31, 2025 | 2 a.m. Positive, it’s an actual story that deserves consideration, and the Biden debacle is...

Next Post
RD Management Taps JLL to Lease 1 MSF Mall Conversion

RD Management Taps JLL to Lease 1 MSF Mall Conversion

New Cryptocurrency ICO Dogecoin20 Launches With 0,000 Raised On Day One – Next Big Meme Coin?

New Cryptocurrency ICO Dogecoin20 Launches With $250,000 Raised On Day One – Next Big Meme Coin?

RECOMMENDED

North Korea’s Kim meets Putin as missiles launched from Pyongyang By Reuters

North Korea’s Kim meets Putin as missiles launched from Pyongyang By Reuters

September 13, 2023
Top Wall Street analysts recommend these 3 stocks for the long term

Top Wall Street analysts recommend these 3 stocks for the long term

March 3, 2024
Green Day Releases Edgy New Album Titled ‘Get The Vaccine, Climate Change Is Real, And Trump Is Bad’ – FREEDOMBUNKER

Green Day Releases Edgy New Album Titled ‘Get The Vaccine, Climate Change Is Real, And Trump Is Bad’ – FREEDOMBUNKER

January 2, 2024
Seeking an Oasis in the Palm Springs Desert With 0,000 to Spend. Which Home Did He Choose?

Seeking an Oasis in the Palm Springs Desert With $350,000 to Spend. Which Home Did He Choose?

January 19, 2023
Biden won’t hit Iran for killing three Americans — he helped the mullahs do it

Biden won’t hit Iran for killing three Americans — he helped the mullahs do it

February 2, 2024
MiB: Benjamin Clymer and Jeffery Fowler of Hodinkee

MiB: Benjamin Clymer and Jeffery Fowler of Hodinkee

April 29, 2023
FTT Nearing Inverted H&S Sample Breakout Eyes

FTT Nearing Inverted H&S Sample Breakout Eyes $40

July 7, 2022
Bitcoin Holders Expect Retrace, Will BTC Move Against Crowd Once Again?

Bitcoin Holders Expect Retrace, Will BTC Move Against Crowd Once Again?

June 27, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In