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The term "broke" does not even apply to Governments.
As long as it has the ability to collect taxes a government cannot go "broke".....lol
What you are incorrectly calling "broke" is merely a State cutting spending to match revenues. ( nothing apparently makes you happy)
[This is been yet another addition of middle school level economics for right wingers.]
addition -> edition. "Hooked on fonics" works for you? I'd probably never listen to anyone making middle school phonetic errors like that, especially in economics.
In Cal, New York and New Jersey the voters are incredibly stupid and gullible.
Add Illinois to that list. You know, the state where at least eight Illinois governors have had legal troubles. The most recent five were indicted; the last three before Blagojevich served prison terms. BOTH political parties are corrupt, here.
One of the hallmarks of "Obamacare" is exactly what has contributed to the budget problems of NY.....expansion of Medicaid. Adding even more people to Medicaid ,as the House plan does, will put even more states in financial peril.
Also the stimulus plan is also contributing to the downfall. It allowed the the state not to make necessary cuts in the 2009 budget (NY still increased its spending budget last year despite knowing about the impending crisis). In 2010 the stimulus money for the states is gone, forcing the state to make even deeper cuts.
Last edited by NSHL10; 11-10-2009 at 09:34 AM..
Reason: sp
One of the hallmarks of "Obamacare" is exactly what has contributed to the budget problems of NY.....expansion of Medicaid. Adding even more people to Medicaid ,as the House plan does, will put even more states in financial peril.
...which means state taxes will increase. Obamacare is going to be a huge additional cost to everyone above the lowest income levels, including the middle class.
For those of you who want to say its a "blue state" thing, actually, Connecticut, New Jersey, Minnesota, Vermont and Massachussetts are some of the least likely states to go down.
I disagree, I think some of them are among the most likely:
CT - Was in this shape just last summer fighting over the budget. But since they do 2 year budgets and seem to have it worked out for now (though heavily due to stimulus money), I think it all depends on who replaces Gov. Rell at the end of 2010 and what the economy is like in 2011 when this comes up again.
NJ - Now cmon, isn't this kind of what the whole governors race was about? And as a state they already have the highest property taxes in the nation. If anything I think they're the MOST likely after NY to fall.
MN - Don't know enough about them to comment, you're probably right on this one.
VT - They are the only state that allows annual budget deficits, though until recently they rarely had them. Very hard to say with this one, but considered moving there last year and from what I read, they are one of the worst states in terms of fiscal stability right now.
New York State Out Spends California 3 to 1 in Medicaid Costs
New York state is #1 in a lot of the wrong things.
The following two paragraphs are from an editorial in the Albany Times Union on 11/10/09.
"Which might explain why, for all its talk of tightening health care costs and going after all that supposed fraud in the Medicaid program, New York has by far and away the costliest Medicaid system in the United States. According to figures from the Kaiser Family Foundation, New York in the 2007-2008 fiscal year spent $44.3 billion to cover 5.1 million people through Medicaid. California spent less -- $35.9 billion -- to insure more than twice as many people -- 10.5 million. New York spent $7,927 per enrollee, California, just $2,740.
Why? In large part, because New York's Medicaid benefits are far more generous than the federal government's standards for Medicaid. According to state Health Department figures, the state spends almost $11 billion more to provide clinical and dental services, medicine, transportation to and from appointments, personal care and services for the mentally retarded than the federal government requires."
Click on the link above to read the entire editorial. Governor Paterson, New York state is broke. Can we really afford to out spend California more than three to one?
15. Wi
14. Or
13. & 12. Hi & La
11. Wa
10. NJ
9. Il
8. Cn
7. Vt
6. Ca
5. Fl
4. Az
3. Ak
2. NY
1. Nv
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I'd probably never listen to anyone making middle school phonetic errors like that, especially in economics.
New York State Out Spends California 3 to 1 in Medicaid Costs
