New York's Crisis

By Lisa Littlewood

Did You Know?

“New York State has the second highest debt-per-capita in the country…$60 billion in debt. Only $3 billion of this was general obligation debt and approved by voters. The other $57 billion was taken on by public authorities, which means it was not subject to voter approval.” 

“New Yorkers pay the highest property taxes in the country. If you look at property taxes relative to the value of a home, the ten highest taxed counties in the nation are in Upstate New York.” (www.lazio.com)

“New Yorkers pay the third highest electricity rates in the country and 66% more than the national average…because one quarter of an electric bill goes to pay state and local taxes—this discourages new business.” (www.lazio.com)

“New York spends more than twice the national average on Medicaid on a per capita basis and spending per enrollee is the second highest in the nation.” (www.andrewcoumo.com)

“New York spends…almost as much on Medicaid as California and Texas combined.  It is probably the single biggest cause of New York’s stagnant economy. It is one of the largest parts of the state budget and its burden on local government is why New Yorkers have the highest property taxes in the country.” (www.carlpaladino.com)

“Two million New Yorkers have left the state over the past decade and the state leads the nation with net out-migration of 20 to 35 year olds—the most critical demographic group for economic growth and vitality.”  (www.andrewcoumo.com)