State of New York Archives: on Budget & Economy

David Paterson: Enforce spending cap, even by constitutional amendment

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.

John Katko: The Washington Big Spenders' plan just isn't working

The national unemployment rate has fallen, but only because millions of frustrated job seekers have left the work force altogether. The labor market remains weak, and the proportion of adults with jobs has changed little.

Our chief problem is a lack of job creation. Government doesn't create jobs, small businessmen and women do. And the Washington Big Spenders' plan just isn't working... for America and especially for Central New York.

John Katko: Supports stimulus, to promote business growth

A: Yes.

Q: Do you support lowering taxes as a way of promoting growth in the economy?

A: Yes.

Q: Do you support providing tax incentives to businesses for the purpose of job creation?

A: Yes.

Kirsten Gillibrand: Tighten our belts but carefully, not a "slash-only approach"

Long campaigned on fiscal discipline and other conservative positions.

Lee Zeldin: Bloated government's debt has become a great threat

It has been said that a government that is big enough to give you everything you want is big enough to take away everything you have. And today our bloated federal government is so big that its costs and debt have become a great threat to our children's future.

Rob Astorino: N.Y. is most regulated, least business friendly state

He'll deliver bold reforms to New York's antiquated tax code and regulatory system, cut spending in real terms and reduce the cost of doing business in New York. That's how you grow an economy--not with empty TV ads.

Mitch McConnell: FactCheck:Inflation Reduction Act reduces inflation a little

Republicans, meanwhile, have repeatedly criticized the legislation. McConnell has called it a "goody bag of far-left environmental activists at the expense of working families." He also says the bill would provide no relief, or worsen, inflation.

Data from the Congressional Budget Office shows the legislation would decrease the deficit by roughly $300 billion, but its impact on inflation in the immediate future is negligible. Larry Summers, who has been critical of the Biden administration's handling of the economy in the past, says the bill is a positive step and pushed back on critics who say the bill's impact on inflation won't be seen for a number of years. The bill "will have a positive impact on inflation--not a huge positive impact but a positive impact on inflation," Summers said.