Pop quiz — what was Governor Andrew M. Cuomo responding to today when he said “I think that’s a really dumb idea?”
A) President Donald J. Trump’s suggestion yesterday that injections of cleaning solutions might help battle coronavirus.
B) The president’s suggestion that ultraviolet light could somehow be put to use inside a COVID-19 patient’s body as a possible treatment
C) Senator Mitch McConnell’s recommendation that states seeking federal support to pay essential workers instead declare bankruptcy
While all of the above are stupid ideas, the correct answer is C.
New York is a giver state
Cuomo said that under current law states cannot declare bankruptcy, and he dared the Senate majority leader to go ahead and pass legislation that would allow states to seek bankruptcy protection from their creditors.
“Pass a bill allowing states to be bankrupt and then let’s watch how the stock market takes off at that great news about our economic resilience,” he said.
Cuomo described the Kentucky Republican’s remark as “the most un-American, uncharitable, ugly statement of all time. “
“You’re not bailing out New York, New York has bailed you out every year it’s bailed you out,” Cuomo said. “Mitch McConnell is a taker, not a giver. New York is a state of givers.”
“We put more money into the federal pot every year. We’re the number one state in donating to the federal pot. Number one. Kentucky is the number three state in taking from the federal pot. They take out more from the federal pot than they put in. Every year.”
$13.3 billion anticipated shortfall
The governor’s irate remarks came during his daily news briefing from the statehouse in Albany during which he announced an anticipated $13.3 billion shortfall in state revenues for the current fiscal year, with $61 billion in losses through fiscal year 2024.
“New York State was not, quote, unquote, in trouble before this happened,” Cuomo said. “New York State was very, very strong before this happened. Our economy was growing. It was growing at a very high rate.”
“Our government spending has been at record lows; the spending increases,” he said. “Our taxes today are lower than the day I took office … So, the state finances were very, very strong.
“Then this economic tsunami hits and you shut down all the businesses, everybody stays home, they’re not getting a paycheck,” he said. “The consequence to the state is the revenue projections are way down.”
The governor also announced an initiative to send absentee ballot applications to all New Yorkers to reduce the demand for in-person voting during the June 23 primary. Read more about that initiative this Gazette post.
Watch the governor’s briefing on YouTube by following this link: https://www.youtube.com/watch?v=C04FJ3OVAEg&feature=youtu.be