Via Megan McArdle:

Cuomo himself has described the process thusly: “The governor announces the budget; unions come together, put $10 million in a bank account, run television ads against the governor. The governor’s popularity drops; the governor’s knees weaken; the governor falls to one knee, collapses, makes a deal.” Perhaps unsurprisingly, over the past decade, New York’s spending has grown almost twice as fast as personal income.

Great article on the NY’s and other states fiscal problems.

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