Pay-As-You-Go A Good Idea

Your February 16th editorial on Governor Pataki’s proposed 2006-2007 state budget missed part of the problem. Consider the financial mismanagement that has occurred under Governor Pataki’s term in office. New York State is number two nationally with each state resident responsible for $2,500 of the current $49 billion dollar state debt. Under “Taxpaki,” state debt grew from $27 billion dollars in 1995 to $49 billion dollars today. The inheritance Pataki has left the next generation could very well bankrupt them. Now is the time for Albany to return to the old fashioned pay-as-you-go form of budgeting. In the long run, this is the only way to introduce fiscal responsibility and eliminate debt.
Larry Penner
Great Neck