All of that genius fiscal planning Saggy Maggie did was predicated on the notion that New York State was planning on increasing funding to schools. Well, now there’s rumblings in Washington that this may not happen at all:
Spitzer and the Legislature earlier this year agreed to raise aid to local school districts by $1.1 billion this year, and $7.6 billion between last year and 2010.The second installment is due in the new fiscal year that begins April 1. But at a budget conference Tuesday, Francis and budget experts from the Senate, Assembly and state comptroller’s office agreed that state finances in the immediate future are shaky because of the recent Wall Street nosedive, the mortgage-lending crisis and the skyrocketing price of oil.
“When Wall Street gets a cold, New York state gets pneumonia,” said Francis, who pointed out that the state depends on the financial-services industry for about 20 percent of its tax revenue.
Have you signed the petition to end this debacle, yet? Can your kids afford you not to?