No Budget, Again

It's a popular misconception that states have to balance their budgets while the federal governent does not. The feds issue debt to pay for their budget, as well as taking what little is left on the surplus side of Social Security.

New York does need to put a budget together where spending is equal to projected revenue. Instead of doing something, they're just letting the budget stay late. At least in New Jersey, Christie is taking on the unions whose demands are greater than the state's money supply. New York would be better off passing a one year emergency budget that only paid for the bare minimum. But that won't happen. So, we'll just have to hope people in this state will elect some Republicans like everyone else in November.