The Ghost of Government Future - Part XII

David Paterson's New York Budget Fails to Deliver Fiscal Responsibility - WSJ.com:

"With revenues still eroding as the April 1 start of the 2009-10 fiscal year approached, Mr. Paterson and Democratic leaders last week agreed to a budget deal that approached the worst of all worlds. The $132 billion plan will increase state spending by at least $11 billion from 2008-09, including $6.2 billion of temporary stimulus aid that will be built into future budgetary baselines. It also calls for over $6 billion in higher taxes and fees, half again as much as Mr. Paterson's original plan. This includes $4 billion to come from an income tax hike that will raise the state's top rate by 31% and kick in at $200,000 for single filers."

Like Michigan and California, New York stands as a harbinger of things to come at the federal level. A great illustration of "how government works" when Democrats have their way.