NYS Budget deficit will be zero thanks to federal aid

[libertysnake]

Schumer spokesman: Federal pandemic relief eliminates NYS deficit

The $1.9 trillion COVID-19 relief package passed by the US Senate wipes out New York State’s projected budget deficit — possibly negating the need for hefty tax hikes or spending cuts, …

nypost.com

Not sure how I feel about this. Personally, I don't think it's the responsibility of other states to bail the bad management of this state out. They fucked up. As much as I'm happy taxes aren't going up, this feels like unwarranted theft. This feels like a reward for bad behavior of the leadership of NYS.

 

[Celt]

Im with you. Other states shouldnt have to carry NY. Although that is part of being a country, and while i HATE lefists politicians, the country needs NY for the economy as well. If NY falls it will impact the whole country to some extent, IMO.

 

[libertysnake]

Im with you. Other states shouldnt have to carry NY. Although that is part of being a country, and while i HATE lefists politicians, the country needs NY for the economy as well. If NY falls it will impact the whole country to some extent, IMO.

Then make it be a loan with low interest. It shouldn't be free.

 

[@thewheels]

This is the federal government forcing 40 something states to subsidize the pooch screwing, socialist utopia, rampant corruption and criminal level fiscal mismanagement of the remaining states.
Nobody in North Dakota or Iowa voted for CA's and NY's government but those poor bastards certainly get to pay for it.

In the end, it really doesn't matter. NY will raise taxes AND go back to the feds for another handout of phony money. And it is phony money.
What we have will never be worth more than it is right now. We're doing our best Weimar Republic impersonation.

 

[1075tech]

As much as I'm happy taxes aren't going up,

What makes you think they won't be going up?

Cuomo says tax hike ‘on the table’ despite NY getting $12 billion in COVID plan

The state government is expected to get $12 billion from President Biden’s coronavirus stimulus plan — but Gov. Cuomo said Sunday he may still have to hike taxes to offset the financial…

nypost.com

The state government is expected to get $12 billion from President Biden’s coronavirus stimulus plan — but Gov. Cuomo said Sunday he may still have to hike taxes to offset the financial damage caused by the pandemic over the past year.

He said the state needed $15 billion to make up the difference.

“Tax increases are on the table … because you have damage to repair,” Cuomo said in a press call with reporters Sunday.

ETA: The financial damage was caused by FUAC's response the the scamdemic.

ETAx2 : FUAC

 

[Celt]

Then make it be a loan with low interest. It shouldn't be free.

Good call, Im with that. Really, I wouldnt mind seeing the state collapse, I was moreso giving a reason why NY was bailed out, not that Im on board with it.

 

[spat]

Schumer spokesman: Federal pandemic relief eliminates NYS deficit

The $1.9 trillion COVID-19 relief package passed by the US Senate wipes out New York State’s projected budget deficit — possibly negating the need for hefty tax hikes or spending cuts, …

nypost.com

Not sure how I feel about this. Personally, I don't think it's the responsibility of other states to bail the bad management of this state out. They fucked up. As much as I'm happy taxes aren't going up, this feels like unwarranted theft. This feels like a reward for bad behavior of the leadership of NYS.

Your taxes are going up.

Just because it's the feds paying instead of the state doesn't mean it isn't all taxpayer money in the end.

PS. You're also paying to bail out CA and half a dozen other blue states this way.

 

[@thewheels]

Then make it be a loan with low interest. It shouldn't be free.

A loan...

 

[SomeSoldier]

I say let the state fail. Anything that cannot conduct good business should not be helped or viable. Banks, businesses, states, countries... don't care let them all eat cake.

 

[Deplorable Me]

The net ugly unintended consequence of this is Andy may escape murder and sexual harassment charges.

 

[C3D]

You don’t have to be Gary Kasparov to look 8 moves out in this chess game.

1. Cuomo is out, in the next few weeks. EIther arrested or impeached.
2. Social Democrats (aka the radicals, who have majority in both houses) push tax increases and wild new spending
3. New York top tax rates go up, likely by 2%
4. The already sucking sound of higher income middle class taxpayers fleeing south and west becomes a jet engine roar. But now they are joined by 10 or 20 of New York’s richest 100 residents.
5. Tax base deteriorates
6. The newly increased budgets in #2 are unsustainable
7. No Federal bailout the next time, because it can’t be packaged as ”Covid relief” in an election year (2022)
8. Back to step 2

 

[Robin]

Probably right C3D. So just how does one organize anything like a tax protest. not my forte.
Robin

 

[Saltwater60]

Good then they can give me my fucking raise and the two years back pay they owe me. Oh wait I’ll be told fuck no.

 

[Mr. terzmo]

so now the toll hike will be rescinded?

 

[Deplorable Me]

And just where do you think federal aid comes from?

Your ass and mine!

In other words Uranus......

 

[TEOTWAWKI inc.]

This isn't a bail out. Not a penny of it will go to the state deficit that this administration created. Tomorrow we will be further in debt and this and the next administrations will continue to raise taxes, force out the tax payers, and demand more money from the federal government. There is no reversing this - we can possibly stop the bleeding but the wound is fatal. Good people need to get elected for state offices so NY can have a less painful death. The federal government should never bail out the states, or anything for that matter. The problem here is our fault for not doing more to prevent it, so we can live with it or get the hell out.

 

[BerettaGuy]

Im betting NY State will squander it on things other than the deficit.

 

[libertysnake]

Im betting NY State will squander it on things other than the deficit.

One can only hope. Given their track record, squandering would beat putting it in a pile and setting it on fire -- which is the the more traditional way for NYS lawmakers to spend the budget.

 

[BerettaGuy]

One can only hope. Given their track record, squandering would beat putting it in a pile and setting it on fire -- which is the the more traditional way for NYS lawmakers to spend the budget.

LIke free College for Lithuanian transexual illegal immigrants.

 

[Apeman]

I say let the state fail. Anything that cannot conduct good business should not be helped or viable. Banks, businesses, states, countries... don't care let them all eat cake.

I agree 100%. You think anybody in charge gives a shit if you or I can't pay our bills? They'd throw us out on our asses and take our house or vehicle if we couldn't pay. Just like it's up to each person not to buy more than they can afford it's up to the state not to spend money it doesn't have. N.Y. wasting money on Puerto Rico and illegals and then crying poverty is the same as me eating dinner out every night and then not being able to pay my mortgage and whining about it.

 

[JaguarJaguarGolf]

Nobody in North Dakota or Iowa could afford to build the federal highway system in their states back in the day, much less run telephone or power lines through them.

New York had been a Donor state that put beacoup dollars into the federal budget for a 100 years that never got close to getting a fraction back.
Heck your cable TV and phone taxes have been paying to run fiber optic cables in those states.

 

[libertysnake]

Nobody in North Dakota or Iowa could afford to build the federal highway system in their states back in the day, much less run telephone or power lines through them.

New York had been a Donor state that put beacoup dollars into the federal budget for a 100 years that never got close to getting a fraction back.
Heck your cable TV and phone taxes have been paying to run fiber optic cables in those states.

It should've been a loan then to the other states.

All of this muddy-ness is how we get into finger pointing. This should all be very clear. None of this horse shit.

 

[meketrefe]

Deficit? ...No problem, we got that!

 

[Carlos Hathcock]

My neighbor spends money like a Kardashian, drinks like a Kennedy, and does drugs like a Biden. Should I have to make his mortgage payments for him?

 

[libertysnake]

LIke free College for Lithuanian transexual illegal immigrants.

Lithuanian transsexuals are under represented, while transsexuals from Transylvania are everywhere.

(Kinda borderline, but I'll throw the @Darth in here for good measure.)

 

[Cooolone]

In a way, we should get ours too... Why not? The Federal $ is our $ too...

That said, the proclamation that the $ will balance the budget and prevent a deficit while preventing cost cutting is unintelligent and counterintuitive!!! The problems with the State financing were not DUE to Covid, but compounded by it. The State was already in a deep hole before it arrived! So that proclamation just exposes how fucking short sighted and ridiculously moronic these politicans think! They'll probably create deficit by spending more $$$ to boot, rather than get ready for the lack of Federal $ next year, and the year after too... Or are they planning to just keep writing Trillion Dollars checks they can't pay for...

Just amazing!

 

[GOPerfect]

I say let the state fail. Anything that cannot conduct good business should not be helped or viable. Banks, businesses, states, countries... don't care let them all eat cake.

This, for me, goes for people as well.

Cannot make life on your own? Too bad, I do not want to feed you, cloth you. No free ride medical or housing.

 

[Apeman]

I wonder how the idiots on charge of NY will explain it next year when the deficit is back over $1 billion? They'll just ask for more money. There won't be any investigation into where the bailout money was spent. These idiots refuse to acknowledge that their leadership and stupid ideas/laws are the reason for a ballooning deficit.

 

[TEOTWAWKI inc.]

Again, this is not a bailout. Calling it such would imply the budget shortfall in NY will be eliminated or reversed. Cuomo already said it isn't enough and taxes "may" still have to increase. This is merely the first installment payment for his disgusting hate speech at the convention. When the new budget comes out next month, everyone that works for a living is going to be forced to bend over and take one for the team.

 

[spat]

You don’t have to be Gary Kasparov to look 8 moves out in this chess game.

1. Cuomo is out, in the next few weeks. EIther arrested or impeached.
2. Social Democrats (aka the radicals, who have majority in both houses) push tax increases and wild new spending
3. New York top tax rates go up, likely by 2%
4. The already sucking sound of higher income middle class taxpayers fleeing south and west becomes a jet engine roar. But now they are joined by 10 or 20 of New York’s richest 100 residents.
5. Tax base deteriorates
6. The newly increased budgets in #2 are unsustainable
7. No Federal bailout the next time, because it can’t be packaged as ”Covid relief” in an election year (2022)
8. Back to step 2

They have already spend the whole "relief bill".

Whenever they get a sudden one time windfall of cash, they spend it. But they don't spend it just once, they set things up like that's going to be an annual income.

So, next year they will *plan* on spending billions more. Wonder where *that* money is coming from (looking at you, taxpayers...).