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In 2017, Charlotte Keith and I reported that New York state and local economic development agencies were doling out $8.6 billion a year in subsidies under then Gov. Andrew Cuomo. Nevertheless, upstate was saddled with one of the worst economies in the nation. If it were a stand-alone state, it would rank fourth from the bottom. Even worse than Mississippi.
A new study is out, issued by Citizens Budget Commission, that reports subsidies in New York have grown to nearly $11 billion and headed higher.
The report read in part:
State and local economic development spending continues to increase without sufficient evidence that these programs cost-effectively create jobs or are more beneficial than alternative uses of the funds.
Economic development spending could reach $13 billion annually by 2025 based on spending increases and expanded incentives approved by the State in recent years.
It’s noteworthy that Gov. Kathy Hochul is using the same failed playbook as Cuomo, throwing huge subsidies at trophy projects that will never provide taxpayers a reasonable return on investment.
Seeking Alpha reports that the finances of Lee Enterprises, owner of The Buffalo News, are “dire.” The digital side of the business is growing, but not as quickly as its print operations are declining. The author paints a discouraging picture of the company’s financial future.
Ken Kruly has studied campaign finance disclosures for local and state candidates and offers all sorts of interesting tidbits.
Charlie Specht of The Buffalo News reports that Chris Scanlon and Mitch Nowakowski are the early favorites to succeed Darius Pridgen as president of the Common Council.
New York’s residential treatment program for people dealing with addictions is plagued with problems, New York Focus reports.
The Pew Research Center tells us everything – or at least a whole lot – about food stamps. Very informative.
Authorities in Texas issued orders to deny water to migrants crossing from Mexico in extreme heat and push children and nursing mothers back into the river when trying to enter the state. Ah, those right-to-life Republicans.
Meanwhile, The Atlantic writes that it’s not enough for the GOP to totally control state government in Tennessee. The party is out to destroy the opposition and democracy in the process.
The New York Times has connected the dots to Donald Trump’s plan to impose his will on the federal government if he is elected. The Nation offers its take, as well. Mother Jones reports that Ron DeSantis is using Florida as a proving ground for his brand of autocratic rule.
NPR, after suing the Pentagon, found that U.S. troops killed and injured civilians when they raided the hideout of ISIS founder Abu Bakr al-Baghdadi in Syria in 2019. At the time, officials claimed the civilians were “enemy combatants.” They were not.
The Dominator thinks the hockey world should get tough on the Russians. A former Soviet hockey dissident comes to the defense of the motherland.
With apologies to Elvis, Yoko has left the building. And some building it is.