NYS announce surplus at least $1 billion

Quite interesting for a state government that is so complex that even a newly elected state rep or senator would have trouble handling.

According to the govt, New York is on track for an over $1 billion surplus for the 2006-07 fiscal year. They got better than expected economic growth and lower spending levels for the surplus.

When anyone mentions the word "surplus", two things happened:

1) Republicans would call for a tax-cut, to return unnecessary money back to the residents

2) Democrats would call for additional spending to "shore" up needed projects to benefit residents

Even more likely, both parties would love to add more local projects to keep their voters happy.

Instead, the surplus money will go to several funds, including the state's Rainy Day Reserve Fund. The Governor's office reports so far that there is over $3 billion in total reserves.

For a state such as New York, it's not enough.

Gosh, if only the federal govt can produce a surplus...

WROCTV - NYS Budget