State Comptroller Reports on NY’s Dire Financial Future

 

State Comptroller Thomas P. DeNaoli issued a series of eye-opening statistics that will adversely affect the State’s residents.

According to DeNapoli, local governments are about to deal with harsh realities as county governments are expected to lose millions of dollars.

Throughout the State the statistics exceed the National Average in an uncomplimentary way.  For example, 53% of residents lose income since mid-March.  A total of 44% delayed medical care in the last four weeks.

Furthermore 27% missed last month’s rent or mortgage payment.  To  compound the problem, not being directly address, is the number of residents who are fleeing the State for those areas more encouraging to businesses.

The Comptroller projected that many public workers will face unemployment as revenue items like state aid are going to sharply decline.

A “typical” New York county will lose $34.9 million in sales tax revenue this year, as well as $21.5 million in state aid, which Gov. Andrew Cuomo has indicated could be cut by 20 percent if federal money is not made available, he reported.