New Yorkers…Hold On To Your Wallet
It appears as though New York State Governor Eliot Spitzer is still trying to buy favor among the voters. Since he first took office a year ago, the new Democratic Governor likes to throw money around in hopes of having people like him. He needs to do something, polls show he’s at an all time low as far as Governor’s go and he could be the lowest rated Governor in New York State history. Republican State Senator Jim Alesi says there’s a “poisonous atmosphere” in Albany and it all revolves around the fact that the Governor is at great odds with Senate Majority Leader Joseph Bruno. As a result of the “poisonous atmosphere,” Senator Alesi points out that progress in the New York State capital has stalled.
Now, in his latest effort to garner votes and favor, Governor Spitzer announced last week in his State of the State address that he’s going to spend 1.5 billion dollars in the creation of an infrastructure and economic development plan to enhance economic growth and opportunity across the state. On the surface, this all sounds great. Just like it sounded great when Governor Spitzer arrived in Rochester, New York and announced the State was kicking in millions of dollars to help move a major company into the downtown area. Of course the move also means the tearing down of the Midtown Plaza. But, there are a couple major catches to the proposal. First off, the City of Rochester doesn’t even own the building. So, why would any politician think it’s a good idea to throw money at something that isn’t even owned by the city? Secondly, the Governor once again has no idea of where the millions of state dollars he’s promised to throw at the city will come from.
Now, making matters even worse, in his latest 1.5 billion dollar proposal for growth in New York State, Governor Spitzer readily admits he has no idea where the money will come from. But, he basically says, have no fear. The funding for the program will come into place. All it will take is — quote — “creative use of existing and new resources.”
What!? “Creative use of resources.” That sounds like a code word for creative financing on behalf of the government. Which usually means, they will soon be dipping into the pockets of the taxpayers once again.
New Yorkers, hold onto your pocket book! It may not hit now, but at this rate with all the money Governor Spitzer likes to toss around, it will catch up with us sooner or later.
Just my two cents,
Dr. Rus
