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Friday, December 4, 2009, 2:53pm EST
NY to receive $4B more in stimulus funding
The Business Review (Albany)

New estimates published Friday show New York should receive $4 billion more from the federal stimulus than originally anticipated.

The state cabinet in charge of handling stimulus money says New York is now projected to receive at least $31 billion of stimulus funds through early 2011, when the spending ends.

That’s $4.3 billion, or 16 percent, above estimates made earlier this year.

The revised estimates reflect the availability of more information, as well as additional money that has now been allocated, said David Neustadt, a spokesman for the stimulus committee.

“Thus far, we have spent the funds wisely and judiciously, and we will continue to do so,” said Gov. David Paterson. “We will use this money to redouble our efforts to create jobs and put our state on the road to fiscal recovery.”

In a report last month, the state’s stimulus cabinet said the 11-county Capital Region is expected to receive at least $882 million of federal stimulus funds.

The cabinet’s new report says the stimulus funding breaks down this way:

• Funds to balance budgets and maintain jobs in municipalities, counties, school districts and at the state level ($16 billion; 52 percent of all funds coming to New York)

• Extended unemployment benefits, increased food stamps and higher social security payments ($6.7 billion; 22 percent)

• Housing, job training, energy and public safety projects ($5 billion; 16 percent)

• Funds for roadwork, bridge repairs, water treatment and sewer infrastructure projects ($3 billion; 10 percent)

The stimulus calculations do not include the value of stimulus tax breaks for businesses and individuals. New York residents are expected to enjoy $9 billion in reduced withholdings in federal income taxes, according to the state report.............................>>>>..........................>>>>..................http://albany.bizjournals.com/albany/stories/2009/11/30/daily52.html?surround=lfn

What happens when the stimulus money runs out and NYS still has the same amount of debt, how will they keep paying for all give away programs that the state is trying to fund. This state is going to have to learn to balance their budget even if it means cutting out services and we'll just have to learn to live without government handouts.

Quoted from Shadow

What happens when the stimulus money runs out and NYS still has the same amount of debt, how will they keep paying for all give away programs that the state is trying to fund. This state is going to have to learn to balance their budget even if it means cutting out services and we'll just have to learn to live without government handouts.

BEND OVER....

NYS will continue to be nothing more than a money pit. They do the usual.....see a problem and throw money at it. That's what the government does! They  have yet to learn how to cut spending. Between their own greedy desires and the special interest groups that just about own the government, the taxpayer doesn't have a shot in hell!

It's impossible to tax and spend your way out of debt so it looks like NYS will be bankrupt if they continue on their present course.

Quoted from Shadow

It's impossible to tax and spend your way out of debt so it looks like NYS will be bankrupt if they continue on their present course.

Bankrupt? Hell no! They will just continue to raise taxes and add fees. No one except welfare folks are moving to NY. After the 40 something generation is dead and gone.....there will be no one left in this state except the union/state/county workers who will all be paying taxes to support themselves.