3/24/10: Statement On Assembly Speaker Silver's Bonding Bill

"The legislation introduced by Assembly Speaker Sheldon Silver highlights another example of how little is actually understood about the daily challenges faced by New York taxpayers. New York's debt burden is among the highest in the nation and yet the Speaker wants to increase the state's debt by $2 billion in the 2010-2011 budget. New York's families and businesses make tough financial choices every single day but sadly, our leaders in Albany refuse to do the same.

Recent reports from Comptroller Thomas DiNapoli clearly demonstrate that recurring spending is dramatically outpacing revenues. If New York turned to its residents to pay off the state's debt service, it would cost every resident in the state $3,089&that includes our children.  At that price, New Yorkers' anger at their elected officials is justified. Only New Jersey ranks higher in per capita debt.

As part of our five-year rightsizing plan, Unshackle Upstate has called on all 212 legislators to reduce State spending by $12 billion in the 2010-2011 budget followed by cuts of $2 billion per year, for the next five years, to meet the 2015 goal of a $109 billion state budget. The state and its residents can no longer afford these inexcusable and short-sighted budget tactics."