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Andrew Cuomo on Budget & Economy

Democratic Governor

 


COVID: Washington passed the buck without passing the bucks

The federal government has failed to realize that this is a national crisis. This is not a state crisis. They delegated responsibility for COVID to the governors and then failed to provide the resources. Washington, as they say, passed the buck without passing the bucks. Again in December, Congress failed this nation when they failed to pass state and local financing during their last legislative session. It is a war and like every war before, it must be financed by Washington.
Source: 2021 State of the State Address to the New York legislature , Jan 11, 2021

Many building projects; all on budget

We're building more renewable energy projects than any state in the United States of America. We're doing the largest development of offshore wind in the western hemisphere off Long Island right now. We did a new Rochester Airport, a new Syracuse Airport, a new Albany Airport--all on time and all on budget. And we balanced budgets all in the middle of it. Everyone in this room pays a lower tax rate today than the day I was elected.

You go to build an airport, you make people uncomfortable during the process, maybe you're going to be over budget, maybe you're going to run into a problem. It's risky, politicians avoid risk. It's expensive and I believe it actually makes you money long term and costs you money not to do, but short-term it's expensive. I really do believe you don't have an alternative. If we don't do these changes and grow, our children inherit a different New York than we inherited.

Source: 2020 New York State of the State address , Jan 8, 2020

I'm not in business of papering over problems with money

I believe we have the most active state government in modern history. And we're spending less money than other state governments. How can it be? How can you be spending less and doing more? Because you can scrutinize the process and be more efficient and be more effective like companies are every day. You have to remain competitive and you have to remain efficient and effective and the answer isn't always more money. Money tries to paper over the problem, and I'm not a papering over business.
Source: 2020 New York State of the State address , Jan 8, 2020

2015 Opportunity Agenda: cut $1.7B taxes; add $1.5B programs

Governor Andrew Cuomo presented his "2015 Opportunity Agenda," designed to restore economic opportunity, improve and reform our education system, and restore the public's confidence and trust in our justice system. This plan is a bold and comprehensive package of legislative reforms, state actions, and public investments that will increase opportunity for all New Yorkers and keep the State moving forward.
Source: State of the State address to 2015 New York Legislature , Jan 21, 2015

Economic Blueprint: growth via development projects

Today, I am laying out a three-part plan:
  1. The next phase in our economic blueprint for growth
  2. A reimagined government that can make our plans a reality
  3. And a New York vision for a progressive future
Our economic blueprint: How does government spur job creation in a down economy while limiting spending and maintaining fiscal discipline? The answer: Creative public/private partnerships that leverage state resources to generate billions of dollars in economic growth.
Source: 2012 New York State of the State Address , Jan 4, 2012

1990s HUD: Sued banks to make more mortgage loans

The federal government sued banks to force them to make risky mortgage loans. Andrew Cuomo, then secretary of Housing & Urban Development, bragged at a 1998 press conference about reaching a settlement with a major lender worth billions of dollars. Cuomo even admitted he knew some of these loans would not be paid back. Nice thing to do with other people's money.

Some of the blame belongs to consumers, who borrowed money they knew they couldn't repay. They traded up & borrowed more than they could handl because, well, we all deserve a big house, don't we? Owning a home is part of the American Dream. But getting it through an interest-only adjustable rate mortgage is more like a nightmare.

Predictably, after the meltdown the liberals called on the government to adopt strict new regulations to ensure it will not happen again. (Good luck with that.) But more regulations can't solve what is largely an ethical problem within the culture. Unchecked avarice at every level has taken a toll on our economy

Source: Leadership and Crisis, by Bobby Jindal, p.266 , Nov 15, 2010

OpEd: 2001 HUD Fannie/Freddie policy led to mortgage crisis

Many of the policies that led to the current mortgage crisis were actually implemented at HUD under Cuomo. As the Wall Street Journal noted:

"A HUD website archive, 'Highlights of HUD Accomplishments 1997-1999,' chronicles that Secretary Cuomo established new Affordable Housing goals requiring Fannie Mae and Freddie Mac--two government-sponsored enterprises--to buy $2.4 trillion in mortgages in the next 10 years. This will mean new affordable housing for about 28.1 million low-and-moderate- income families. The historic action [changed the rules for] mortgage loans for low- and moderate-income families from the current 42% of their total purchases to a new high of 50%--a 19% increase--in the year 2001."

The "Village Voice" accuses Cuomo of making a series of decisions that "gave birth to the mortgage crisis" and resulted in 3 to 4 million people facing foreclosure. And many commentators believe that the subprime mortgage crisis fueled the global financial crisis that began in late 2008.

Source: Take Back America, by Dick Morris, p.193 , Apr 13, 2010

Upstate economy will be a priority, not “caboose”

Cuomo delivered energetic speeches in which he lambasted Pataki for failing to improve the upstate economy. The governor has “taken the Empire State and made it the caboose on the economic train,” said Cuomo, who promised, if elected, to make 2003 the year “the Empire State strikes back.”
Source: Elizabeth Benjamin, The Times Union , Mar 24, 2002

Other governors on Budget & Economy: Andrew Cuomo on other issues:
NY Gubernatorial:
Andrew Giuliani
Andrew Yang
Bill de Blasio
Cynthia Nixon
George Pataki
Howie Hawkins
John DeFrancisco
Kathy Hochul
Kirsten Gillibrand
Larry Sharpe
Lee Zeldin
Marc Molinaro
Mike Bloomberg
Rob Astorino
Shaun Donovan
Zephyr Teachout
NY Senatorial:
Alex Merced
Charles Schumer
Chele Farley
Dave Webber
Kirsten Gillibrand
Marc Molinaro
Scott Noren
Wendy Long
Gubernatorial Debates 2021:
CA Recall:
S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Former U.S.Rep Doug Ose(R)
Laura Smith(R)
vs.Former Olympian Caitlyn Jenner(? R)
NJ: Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
vs.GOP Hair Doug Steinhardt(R)
VA: Incumbent Ralph Northam(D,term-limited)
vs.Former Governor Terry McAuliffe(D)
vs.CEO Glenn Youngkin(R)
vs.A.G. Mark Herring(D)
vs.State Sen. Amanda Chase(I)
vs.Lt. Gov. Justin Fairfax(D)
vs.State Rep. Jennifer Carroll Foy(D)
vs.State Rep. Lee Carter(D)
vs.State Sen. Jennifer McClellan(D)
vs.State Rep. Kirk Cox(R)
vs.CEO Pete Snyder(R)

Gubernatorial Debates 2022:
AK: Incumbent Mike Dunleavy(R)
vs.Bill Walker(? D)
vs.Al Gross(? I)
AL: Incumbent Kay Ivey(R)
(no prospective opponents yet)
AR: Incumbent Asa Hutchinson(R,term-limited)
vs.Trump Adviser Sarah Huckabee Sanders(R)
vs.A.G. Leslie Rutledge(R)
vs.Ricky Dale Harrington(L)
vs.Anthony Bland(D)
AZ: Incumbent Doug Ducey(R,term-limited)
vs.Paul Gosar(? R)
Mayor Marco Lopez(D)
CA: Incumbent Gavin Newsom(D)
vs.S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Antonio Villaraigosa(? D)
CO: Incumbent Jared Polis(D)
vs.Mayor Greg Lopez(R)
CT: Incumbent Ned Lamont(D)
vs.Bob Stefanowski(? R)
FL: Incumbent Ron DeSantis(R)
vs.Former Gov.Charlie Crist(D)
vs.Rep.Stephanie Murphy(? D)
GA: Incumbent Brian Kemp(R)
vs.Minority Leader Stacey Abrams(D)
vs.Senate candidate Shane Hazel(L)
vs.State Rep.Vernon Jones(R)
HI: Incumbent David Ige(D,term-limited)
vs.Rep. Tulsi Gabbard(? D)
vs.Marissa Kerns(R)
IA: Incumbent Kim Reynolds(R)
vs.U.S.Rep. Cindy Axne(? R)
ID: Incumbent Brad Little(R)
vs.Raul Labrador(R)
IL: Incumbent J.B. Pritzker(D)
vs.State Sen.Darren Bailey(R)
KS: Incumbent Laura Kelly(D)
vs.Jeff Colyer(R)
vs.State Sen.Derek Schmidt(R)
MA: Incumbent Charlie Baker(R)
vs.Lt.Gov.Karyn Polito(R)
vs.Harvard Professor Danielle Allen(D)
vs.State Sen.Ben Downing(D)
MD: Incumbent Larry Hogan(R,term-limited)
vs.State Rep. Robin Ficker(R)
vs.State Rep. Peter Franchot(D)
vs.State Del.Kelly M. Schulz(R)
vs.Secretary John B. King(D)
vs.RNC chair Michael Steele(? R)
Gubernatorial Debates 2022 (continued):
ME: Incumbent Janet Mills(D)
vs.Former Gov. Paul LePage(R)
MI: Incumbent Gretchen Whitmer(D)
vs.Chief James Craig(R)
MN: Incumbent Tim Walz(DFL)
vs.Mayor Mike Murphy(R)
vs.State Sen.Scott Jensen(R)
NE: Incumbent Pete Ricketts(R,term-limited)
vs.U.S.Senator Bob Krist(R)
vs.Chuck Herbster(R)
NH: Incumbent Chris Sununu(R)
vs.Dan Feltes(D)
vs.Kelly Ayotte(? R)
NM: Incumbent Michelle Lujan Grisham(D)
vs.Commissioner Jay Block(R)
NV: Incumbent Steve Sisolak(D)
vs.A.G.Adam Laxalt(R)
vs.U.S.Rep. Mark Amodei(? R)
NY: Incumbent Andrew Cuomo(D)
vs.Lt.Gov.Kathy Hochul(D)
vs.Rob Astorino(R)
vs.Andrew Giuliani(R)
vs.US.Rep.Lee Zeldin(R)
OH: Incumbent Mike DeWine(R)
vs.Former Rep.Jim Renacci(R)
vs.Dayton Mayor Nan Whaley(D)
vs.Mayor John Cranley(D)
OK: Incumbent Kevin Stitt(R)
vs.State Sen. Ervin Yen(R)
OR: Incumbent Kate Brown(D,term-limited)
vs.Gov. nominee Bud Pierce(R)
vs.Paul Romero(R)
PA: Incumbent Tom Wolf(D,term-limited)
vs.U.S.Rep. Lou Barletta(R)
vs.Commissioner Joe Gale(R)
vs.A.G.Josh Shapiro(D)
RI: Incumbent Gina Raimondo(D,to Cabinet)
vs.Gov. Dan McKee(D)
vs.Secy.Matt Brown(? D)
vs.Mayor Allan Fung(R)
vs.Luis-Daniel Munoz(D)
SC: Incumbent Henry McMaster(R)
vs.State Rep. James Emerson Smith(? D)
vs.US.Rep.Joe Cunningham(D)
SD: Incumbent Kristi Noem(R)
vs.State Rep. Billie Sutton(? D)
TN: Incumbent Bill Lee(R)
vs.Senate nominee Marquita Bradshaw(? D)
TX: Incumbent Greg Abbott(R)
vs.Chad Prather(R)
vs.State Sen.Don Huffines(R)
vs.U.S.Rep. Allen West(? R)
VT: Incumbent Phil Scott(R)
(no prospective opponents yet)
WI: Incumbent Tony Evers(D)
vs.CEO Jonathan Wichmann(R)
WY: Incumbent Mark Gordon(R)
vs.Minority Leader Chris Rothfuss(? D)

Gubernatorial Debates 2023:
KY: Incumbent Andy Beshear(D)
vs.Former Gov. Matt Bevin(? R)
Senator Rand Paul(? R)
LA: Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
MS: Incumbent Tate Reeves(R)
(no prospective opponents yet)
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Page last updated: Jul 05, 2021