NY Times on Budget Cuts: Cuomo Takes Easy Way Out, Illogically Caters to Special Interests
A recent NY Times editorial from March 19th discusses Cuomo’s decisions to cater to special interests while slashing public funding for the most vulnerable.
“Gov. Andrew Cuomo has rightly argued that painful spending cuts will be needed to close New York’s projected $10 billion deficit. The hard truth is that it is impossible to cut spending deeply without cutting the state’s huge outlays for education and health care. That means that New York’s most vulnerable citizens — schoolchildren, the elderly, the poor, the sick — will feel a disproportionate amount of the pain.
Governor Cuomo has vowed to make the tough decisions and not to be swayed by special-interest pleadings. But he is refusing to impose any new taxes or even continue a current surcharge on New York’s wealthiest and least vulnerable citizens.
That makes no fiscal sense. So we have to assume that for Mr. Cuomo, some special interests are more special than others. Just extending the surcharge on New York’s highest earners through 2012 would add an estimated $1.2 billion in revenue to the upcoming budget and $4 billion the following fiscal year.
Without that surcharge and other targeted tax increases, Mr. Cuomo’s proposed cuts in education and other vital services will inevitably be deeper and more painful than necessary, harming both individuals and the foundation for the state’s future economic growth.”
Read the full article at: http://www.nytimes.com/2011/03/20/opinion/20sun1.html