New Illinois

Ginormous budget holes look to be Andrew Cuomo’s third-term curse

Gov. Andrew Cuomo likes to boast of how he’s tamed the state budget, yet the financial-plan update he put out Friday highlights some alarming mismanagement.
Despite a strong national economy, it turns out the state faces a $4 billion Medicaid-spending gap this year and general-fund shortfalls totaling $22 billion over the next three years. (And that’s assuming the economy doesn’t slow significantly.)
Just the budget for the fiscal year that starts April 1 is now $6.1 billion in the red.
Cuomo’s update bluntly admits Medicaid has a “structural imbalance.” Absent fast action, overruns will hit $3.1 billion in fiscal 2021, $3.5 billion in ’22 and $3.9 billion in ’23.

Cuomo be fighting for taxes, right along side California and Illinois; all at the same time, during the national elections and the Swamp will be facing some financial crunch of its own.  A tax revolt will can cause sudden stop.  California and New York are the two states that turn the doldrums into a blue bar.