Posted on 02/12/2021 3:12:30 AM PST by Oldeconomybuyer
WASHINGTON - More than $50 billion in funding is on its way to New York State as part of President Biden’s enormous $1.9 trillion coronavirus rescue package, The Post has learned.
The bailout includes $12.6 billion in New York state coronavirus recovery funding and $10.64 billion for local governments, Pelosi wrote in the letter obtained by The Post.
Another $12.3 billion has been earmarked for the state’s shuttered schools while the Empire State’s run down transit system would receive an $8.8 billion infusion.
New York airports are earmarked for $418 million in the aid bill and small businesses will be eligible for a pot of $483 million.
The package will serve as an urgently-needed cash injection for the state which faces a massive $63 billion budget deficit owed to revenue losses caused by the coronavirus pandemic.
(Excerpt) Read more at nypost.com ...
Down the rat hole...
Debt for NY City, excluding the Water Finance Authority, is figured to be currently around 125-billion dollars.
The NYC Transit Authority (at least in summer of 2020) figured to have near $45-billion in debt.
If you took up the entire state (everything figured)...it’s near $350-billion of debt.
So this $50-billion will last around six months, and simply be the path for a second ‘deal’ by the end of 2021.
Note to the other 49: You are nuts to put up with this.
Communist bail out!
It will be just used to pay the interest on the debt and almost nothing will go on the debt itself.
“This is where we are,” she said. “I think the conditions are different now and there’s a federal administration that is helping rather than hurting NY in its public health efforts.”
Lying weasels, the whole lot of them..
Bail money for Cuomo after he’s arrested for murdering seniors? If only.
I’m sure other poorly run/corrupt democrat cities will be getting a fat cut too.
Bailout for destroying themselves, with our children’s future.
Balanced Budget Amendment.
Yep, and add to it...various companies folding up in Manhattan and leaving the state....along with retirees and the ultra rich. This deal just gets them into 2022, and begging for another interest-debt-payment. Chicago, SF, and LA will be the same way.
Have to Bribe to keep NY and it’s corruption Blue.
Malfeasance of office, rewarded.
A couple years back, NYS initiated something like 90 new taxes.
This is why the election was heisted.
Trump was suffocating the blue state sink holes!
Every COVID dollar that a state accepts should be predicated on an audit to ensure the dollars go where they are supposed to.
The RAT SCUM governors knew the election was fixed and that is why they did not fear shutting down their tax bases and running up huge deficits. The deficit cavalry would be arriving over the hill.
Btt
“…coronavirus rescue package”…another word for BAIL OUT!!
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