We have got to find a procedure that cures the spending structure that has infected our budget process for the last 20 years. And the sooner we do that, the more control we will have over spending, not less. For as you may have observed in the past few weeks, the Governor will exercise authority to prevent this State from going into default. You have left me and other Governors no choice. So whether it be by vetoes or delayed spending, I will not write bad checks and we will not mortgage our children's future.
But the Legislature is the body of the people. And the Legislature should have an equal voice in deciding to hold spending in line with the times.
To be specific, women--who are 51% of the population and were 29% of the firms that were approved in advance--got 2.6% of the contracts. But it gets worse. Hispanic Americans--8.5% of the threshold vendors, meaning that they had capital, they had been certified, they passed all the tests--received 0.74%, 3/4 of 1%, of the contracts.
I knew to start a Task Force on Minority and Women Business in June 2008. Here are the results. We have quadrupled the MWBE participation. The minority firms that are investment banking and involve the issuance of debt went from 4.2% MWB in 2007 to where they stand now--23.9%. Since I have taken office, minority and women firms have yielded $162 million of profit over where they were at that particular time.
To develop this program, we went all around the State, seeking out business leaders that would give us advice in all communities. We have come back with three aggressive initiatives targeted for growth industries, such as clean energy, broadband, information systems, and bio-technology.
This commission will have the power to enforce campaign finance and end pay-to-play and bring jurisdiction and oversight to so-called good government groups, who hide their donors behind walls of sanctimony.
The Reform Albany agenda will significantly drive down campaign contributions; require openness of outside income; will strip public officials of their pensions who commit felonies; phase in gradually public campaign finance; and will impose term limits on State officeholders by constitutional amendment.
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The above quotations are from 2010 Governor's State of the State speeches.
Click here for other excerpts from 2010 Governor's State of the State speeches. Click here for other excerpts by David Paterson. Click here for other excerpts by other Governors.
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