Thursday, January 27, 2011

Malfeasance for Malfeasance's Sake

In order to prevent a future economic crises like the one New York is currently engaged in, Assemblyman Jim Tedisco, R-Glenville, has introduced the O.U.T. of Debt Act.
The legislation would require the Comptroller to be immediately notified of any over-expenditure of taxpayer monies and that all leftover funds are allocated to the general fund to pay down debt
“For New York’s government it should be O.U.T. with end of the year spending binges. Too many agencies attempt to empty their coffers at the end of the year to justify their budgets. This is when deficits build up,” said Tedisco.
“Oftentimes, a state agency will have a small amount of money left over at the end of the year and unilaterally go on a last minute spending binge. Pretty soon this impulse spending adds up to big dollars."
One recent offender, according to Tedisco, was the senate democrats, who overspent on their staff by $10 million. He also cited $1.2 million in so-called “discretionary” raises at the end of the year that were handed out by SUNY honchos.
“This bill won’t erase New York’s $10 billion deficit on its own, but it will provide the kind of spending transparency the state needs to get out of debt and save taxpayers from getting fleeced by end of the year spending sprees,” said Tedisco.

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