Commentary: Ny Voters Should Give Thumbs Up to Prop. 1

Long Island Business News (October 21, 2005)

Author: Jerry Kremer
Permanent Link: http://vlex.com/vid/68841793
Id. vLex: VLEX-68841793

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Summary:

In recent years, the New York Legislature has taken a lot of heat because it has failed to adopt timely budgets and been blamed for whatever ills that afflict the state. Some of the criticism may be warranted and some is just the product of the public's anger at government in general.

The Albany budget mess dates back about 20 years. At one time, the state would borrow all of the money it needed for the entire year in April. In order to satisfy the money lenders, it was necessary that the state budget be approved by April 1. Once the state decided to change its borrowing deadline, there was no longer any pressure to adopt a timely budget.

Extract:

Commentary: Ny Voters Should Give Thumbs Up to Prop. 1

On Nov. 8 the voters will be asked to approve or disapprove Proposition 1. This proposition was put forward by the legislature as a way to stop budget grid...



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