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March 30, 2010
Atlantic Yards YES! School Aid NO!!
Whoops! No money for schools! But a basketball arena? Those funds are in a lock box.
The New York Times, Paterson Delays School Aid, Citing State’s Lack of Money
Gov. David A. Paterson ordered the delay of $2.1 billion in aid payments to local school districts on Tuesday, saying the state did not have enough cash to pay bills and still end the fiscal year with its budget balanced.
Mr. Paterson made the announcement after he and the Legislature failed to agree on a budget deal for the fiscal year that begins on Thursday, a deal that was expected to include provisions to cover the state’s cash crunch for the fiscal year that is ending.
The sheer size of the state’s unpaid bills underscore an unsettling truth: New York is living hand-to-mouth, the state’s solvency at risk day to day.
...The delayed payments include about $924 million in aid for New York City schools.
...“Once again the governor — and I’m not saying on purpose — created a scenario that hurts the poorest and neediest New Yorkers worst,” said Richard C. Iannuzzi, president of the New York State United Teachers union.
That's because the governor — and we are saying on purpose — is too busy lavishing subsidies (and other people's properties) on the wealthiest and least-deserving New Yorkers (and Russians).
Separately, the Paterson administration moved on Tuesday to withhold payments due after Wednesday on current state construction projects and to delay new ones. The announcement does not affect about $10 million in emergency projects or those being financed with federal stimulus money.
And you can be sure the announcement does not affect Atlantic Yards, either. Nothing ever does.
Posted by eric at March 30, 2010 11:54 PM