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New York will suffer $13.3 billion
revenue shortfall from original
forecast due to coronavirus, Cuomo says

Original Article

Posted By: NorthernDog, 4/24/2020 6:27:12 PM

Gov. Andrew Cuomo said Friday that New York will report a $13.3 billion shortfall in revenue compared with its original forecast — representing a 14% decline in the state’s projected receipts. The Empire State, which has been hit harder by the coronavirus pandemic than anywhere else in the U.S., currently forecasts $61 billion in total lost revenue between fiscal years 2021 and 2024, Cuomo said. “What you’re going to see is what we expected,” Cuomo said at a press conference, referring to the state’s assessment of the virus’ economic impact. The projections offer a glimpse into the devastating financial toll

Comments:

Can't wait to see all the liberal sacred cow programs getting gutted. Princesses Andrew won't be able to balance the budget on tax increases alone.

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Reply 1 - Posted by: Right Time 4/24/2020 6:31:16 PM (No. 390501)
Keep sending checks to illegal immigrants....That'll her[
17 people like this.

Reply 2 - Posted by: Right Time 4/24/2020 6:31:50 PM (No. 390503)
That'll help
10 people like this.

Reply 3 - Posted by: seamusm 4/24/2020 6:36:56 PM (No. 390511)
Only?
6 people like this.

Reply 4 - Posted by: LadyVet 4/24/2020 6:37:18 PM (No. 390512)
Whereas he totally over-estimated the number of ventilators and hospital beds, he is likely under-estimating his revenue shortfall.
19 people like this.

Reply 5 - Posted by: stablemoney 4/24/2020 6:37:27 PM (No. 390513)
Raise taxes. The law says states have to balance their budgets. I hope this is not another one of the Democrat's laws that are broken.
14 people like this.

Reply 6 - Posted by: bad-hair 4/24/2020 6:42:11 PM (No. 390517)
Shooting for the too big to fail paradigm where the "flyover" citizens will have to cough up their unfunded pension plans. Hey New York et al. You are RUNNING OUT OF OTHER PEOPLES" MONEY. They will no doubt get away with it though.
11 people like this.

Reply 7 - Posted by: lazlototh 4/24/2020 6:55:43 PM (No. 390526)
I live here because of my job, but is truly appalling that this state has taxed us more than any other state has taxed its residents and this state still couldn't balance its budget properly or control the cost of government even before all of this. I like where I live but if the government can't figure out how to avoid burdening us more I'll be just another statistic who moves at retirement.
11 people like this.

Reply 8 - Posted by: Mofongo 4/24/2020 6:58:20 PM (No. 390528)
The good news keeps coming.
9 people like this.

Reply 9 - Posted by: Griller1 4/24/2020 7:04:41 PM (No. 390531)
Hey NY, cut back on your profligate spending. That should help.
18 people like this.

Reply 10 - Posted by: Grateful 4/24/2020 7:10:24 PM (No. 390537)
Wait for it... wait for it! The MSM, all together now.. IT'S TRUMPS FAULT!!
7 people like this.

Reply 11 - Posted by: bamboozle 4/24/2020 7:10:33 PM (No. 390538)
Gee, with the collapse of oil prices, even beginning to allow fracking in NY won't buy them any love.
9 people like this.

Reply 12 - Posted by: Quigley 4/24/2020 7:15:59 PM (No. 390540)
Guess you're going to have to tighten your belt. Maybe fredo ii will donate his big salary
11 people like this.

Reply 13 - Posted by: FL_Absentee_Voter 4/24/2020 7:24:24 PM (No. 390544)
Is he still getting free air time (even on Fox) for his daily national press briefing? If so, no better place to push the idea that the Federal government owes New York a bailout - particularly since Trump short-changed him on beds, ventilators, test kits...
6 people like this.

Reply 14 - Posted by: PlayItAgain 4/24/2020 7:35:11 PM (No. 390547)
At some point, this need to take a direct and personal hit on Governor Cuomo and state legislators.
7 people like this.

Reply 15 - Posted by: Gordon Freeman 4/24/2020 7:38:44 PM (No. 390548)
I think it's time for a tax increase, say another 25%? That ought to learn those libs a thing or two? Hey you guys need to pay your share.
12 people like this.

Reply 16 - Posted by: ginadee 4/24/2020 7:40:58 PM (No. 390550)
Why is Andrew Cuomo getting TV coverage everyday? 'ya think he is running for / as Joe's replacement? Sure looks that way.
13 people like this.

Reply 17 - Posted by: DVC 4/24/2020 8:09:32 PM (No. 390565)
Here's an idea...SPEND LESS. And keep you hands away from my wallet. Get your money from New Yorkers, not from the rest of us.
14 people like this.

Reply 18 - Posted by: 24tea@Mag 4/24/2020 8:23:39 PM (No. 390573)
Too bad! Get rid of the city Mayor and try being a better Govenor with balance sheet.
7 people like this.

Reply 19 - Posted by: Ret.TxLeo 4/24/2020 8:53:47 PM (No. 390592)
Clean up your own mess their Andy. Those of us in flyover country are tired of listening to you, tired of you dictating to us in flyover country just plain tired of you.
12 people like this.

Reply 20 - Posted by: spacer 4/24/2020 9:09:58 PM (No. 390603)
Too bad. Your bail out stash was used up on ventilators , huge hospitals and Naval forces....that your sorry corrupt a$$$ didn't need.
8 people like this.

Reply 21 - Posted by: Tennman 4/24/2020 9:15:33 PM (No. 390605)
Look for him to try to be BFF to Trump for a bail-out. Proper response should be "forget about it".
6 people like this.

Reply 22 - Posted by: Safari Man 4/24/2020 9:21:36 PM (No. 390610)
Need to furlough non-essential staff, which is about 97.5% of state employees.
8 people like this.

Reply 23 - Posted by: pros7767 4/24/2020 9:30:46 PM (No. 390615)
So disappointed for him. Feds bought ventilators he refused to buy back in 2015, built the Javits Center into a hospital he didn't need and sent the Mercy Ship. Now he wants a bailout? What's he smoking?
8 people like this.

Reply 24 - Posted by: JHHolliday 4/24/2020 10:08:47 PM (No. 390639)
“Drop dead NYC” as they said Gerald Ford supposedly said (he didn’t) when the city’s mismanagement brought them into bankruptcy 50 years ago. I have no wish to see my tax money go to bail out some yankee leftist state that has pi$$ed away their billions in revenue. In other words “drop dead”.
8 people like this.

Reply 25 - Posted by: anniebc 4/24/2020 10:10:45 PM (No. 390641)
I'm crying for New York down here in the south, Cuomo. For sure. We're not bailing you out, so learn how to manage your state's budget.
5 people like this.

Reply 26 - Posted by: cor-vet 4/24/2020 10:37:58 PM (No. 390658)
NY and Illinois are going to cry about how this virus broke them, because they want the rest of the country to fund their over generous, poorly managed, public sector retirement funds. No liberal is responsible for their problems, it's always someone else's fault and they always want someone else to bail them out. But by God, don't you dare try to tell them how to manage their state/ city.
2 people like this.

Reply 27 - Posted by: JimBob 4/24/2020 10:38:19 PM (No. 390659)
If I may be so bold as to predict: -NYState and NYCity governments will continue unabated- nay, increased- spending on leftist pet projects. -If they cut spending AT ALL it will be Police and Fire departments, and they will also let criminals out of jail to 'save money'. -The crime rate will go up dramatically, but the Media will not 'make the connection' between fewer police and more criminals on the streets, and the increased crime rate. If anything, they will scream for more 'Gun Control'....when what they really need is more Thug Control. More and more normal citizens will plan and execute their own 'Escape from New York". -Agree? Disagree? Let's Wait and See!
2 people like this.

Reply 28 - Posted by: LC Chihuahua 4/24/2020 10:58:27 PM (No. 390667)
We are seeing Cuomo and other Democrats sacrificing everything around them just to get at Trump. What they are doing is tyranny, the exact opposite of governing and leadership. These governors just cannot shutdown their states. All those businesses and jobs are the lifeblood that keeps their states running. Does Cuomo even want to fix his shortfall? All he has to do is reopen the state.
1 person likes this.

Reply 29 - Posted by: Jesuslover54 4/24/2020 11:07:13 PM (No. 390676)
I'm not chipping in, so go hang.
2 people like this.

Reply 30 - Posted by: john56 4/24/2020 11:22:31 PM (No. 390683)
Some states had a "rainy day fund" with reserves for catastrophies like this. Obviously, New York didn't save up for the bad times that come from time to time. Fools.
1 person likes this.

Reply 31 - Posted by: RuckusTom 4/25/2020 12:11:08 AM (No. 390704)
Did you see Cuomo's response to McConnell possibly introducing a law to allow states to declare bankruptcy? What Cuomo's saying here is NY needs a bailout for state pensions he can't afford anymore. Corona is just the excuse. It'd just be $61+ billion from taxpayers in red states. We'll be seeing the same bailout requests coming from Illinois and California.
2 people like this.

Reply 32 - Posted by: judy 4/25/2020 12:21:22 AM (No. 390708)
Elect a new Governor...a business man with bookkeeping skills....not a politician
0 people like this.

Reply 33 - Posted by: LadyVet 4/25/2020 1:14:16 AM (No. 390731)
Maybe he can find that $11 billion that went missing when he was at HUD. It might come in handy right about now.
2 people like this.

Reply 34 - Posted by: NotaBene 4/25/2020 1:26:09 AM (No. 390741)
It’s the SALT deduction, stupid. That means that rich New Yorkers can only deduct $10,000 in State and Local Taxes. So Cuomo and the Democrats cannot raise taxes anymore. Marxist is therich.
4 people like this.

Reply 35 - Posted by: JediJerry 4/25/2020 1:58:50 AM (No. 390763)
The only solution is to raise taxes and fees.
1 person likes this.

Reply 36 - Posted by: Trigger2 4/25/2020 2:05:30 AM (No. 390764)
Saint Cuomo is always crying poverty because he has other priorities like emptying out prisons and putting murderers, rapists, kidnappers, etc. on the street so he can use the savings to hand out freely to wind/solar developers - his holy grail. His party gave out lavish retirement benefits for state workers, and anybody joining the state pension system, yet he refuses to fully fund the pension fund. I laughed the other day when he said his priority was schools and they come first to be funded, yet when he's under a budget constraint and still wants to fund his commie agenda the first place to cut is always schools. He's a glorified ultra-lying hypocrite.
2 people like this.

Reply 37 - Posted by: Strike3 4/25/2020 3:23:59 AM (No. 390780)
I wonder if Andy factored in all of the New Yorkers that will be leaving the state permanently in the next few years? His math skills have been shown to be lacking.
1 person likes this.

Reply 38 - Posted by: Historybuff 4/25/2020 9:30:39 AM (No. 390962)
But since the sales tax ruling NYS should be rolling in money for things bought by NYers from Amazon, etc.
0 people like this.

Reply 39 - Posted by: Historybuff 4/25/2020 9:35:44 AM (No. 390970)
The silver lining here? Maybe we won't have the $$$ to close Rikers Island and build 4 new jails! Oh the kick backs and contracts lost! Closing RIkers (There's a reason why it is on an island. . . ) because there are admitted problems there, would only take the same bad guys, and the same admin - personel - and move them into 4 jails around the city. See how that would solve anything?
2 people like this.

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