While Illinois continues to delay payment on $4.5 billion of bills and New York Gov. David Paterson works his way through 6,900 vetoes of spending measures, the cost of stimulus money is getting clearer.
E.J. McMahon writes that New York has a structural deficit equal to “15 percent of state-funded expenditures” thanks in part to federal stimulus rules that increased spending.
Universities claim that they are paying more administrative cost for the federal bailout research grants they received.
