Diary

New York and California: BROKE!

I happen to live in New York and my state is broke, busted, no dead presidents to spare. Finally it appears that someone found a clue up in the state capital of Albany. The Governor of NY State, David Patterson (who was not elected by the way, he took over after the elected gov had to step down for patronizing hookers), appears to have finally found his financial sense along with his manhood. From the New York Times:

ALBANY — In a strikingly blunt State of the State address, Gov. David A. Paterson chastised the lawmakers seated before him on Wednesday, saying they had spent the state into near-ruin and stood by as a plague of political corruption destroyed New Yorkers’ trust in their government.

Dispensing with the ritualized flattery that typically precedes the annual address, Mr. Paterson said that the Legislature’s reluctance to make hard decisions and rein in its own excesses had plunged the state even deeper into crisis.

“You have left me and other governors no choice,” Mr. Paterson, the former State Senate minority leader, said. “Whether it be by vetoes or delayed spending, I will not write bad checks, and we will not mortgage our children’s future.”

The public scolding drew a cold response from lawmakers, who gave Mr. Paterson little applause and rose from their chairs only when he entered and exited the Assembly chamber.

Some sat stony-faced during the speech, while others fidgeted with BlackBerrys.

Bravo Mr Patterson!
It remains to be seen if the good Governor will come through and actually back up his statements with action, but at this point for the people of NY, his words are like finding a table spoon of water in the desert. we’ll take it!

On the left coast, the Governator appears to be going in exactly the opposite direction.
From Reuters:

SACRAMENTO, California – California Governor Arnold Schwarzenegger on Wednesday vowed to pry more dollars from the federal government, which he said took more than it gave, but left details on how to close a $19.9 billion state budget gap until later this week.

In a state of the state speech, the governor said creating jobs was the top priority for his last year in office and proposed spending $500 million in worker training funded by part of the budget which is in surplus.

He also laid out ambitious reforms for the final year of his term — almost certain to include months of budget battle.

Schwarzenegger on Friday will present his plan to close a budget hole that reflects the problems of the boom and bust California economy. The U.S. economic engine faces deteriorating finances as it tries to balance its budget and preserve social safety nets in tough times.

The outgoing Republican governor, stopped by term limits from seeking reelection in November, called for tax reform, protection for higher education spending — and more money from the federal government.

And Arnold claims that he is a “Republican.”

Anyway you cut it, California is 19 billion in the hole even after raising state taxes by 10% and he just wants to keep on spending. New York and California are little microcosms of what’s happening in DC.

We need elected officials who can say that word that they all seem to be afraid of:
NO, you cannot have money for that!

crossposted to The Ritz Report