Wednesday, March 3, 2010
The laughingstock of all 50 states
From the Wall Street Journal:
Move over, New Jersey, you're getting a run for your tax money as the nation's most dysfunctional state from the once great mecca of commerce and finance known as New York. Politics in the Empire State has become a carnival of spendthrifts, sexual miscreants and the all-purpose ethically challenged.
In the latest sign that the Apocalypse is upon Albany, New York Governor David Paterson announced yesterday that he won't seek election to a full term in November only two weeks after he had announced that he would. Mr. Paterson, a Democrat who became governor in March 2008 after Eliot Spitzer resigned in a prostitution scandal, has spent the past two years lurching from one fiasco to the next.
He's currently being investigated for awarding a lucrative casino contract to a political backer. And this week he was accused of contacting a woman who was seeking a protective order against one of his aides. State police are reported to have pressured the woman to drop her complaint.
Mr. Paterson's troubles have been catnip for "Saturday Night Live," but the state's voters are laughing to keep from crying. New York's budget deficit is an estimated $8.2 billion, due in no small part to state spending that has risen by nearly 70%, or $35 billion, over the past decade. The recent financial crisis has exposed the state's overreliance on tax revenue from Wall Street.
Mr. Paterson has promised several times to stop this, only to give in to the legislature and tax and spend again. He'll now be the lamest of lame ducks, and if he wanted to do the public at least one good turn he'd resign early and let the state be run through next year by his Lieutenant Governor, Richard Ravitch, who is at least competent.
This mess is all part of the culture of Albany, arguably the most corrupt legislature on Earth.