Suffolk County’s Executive has declared a financial emergency in the county, and it’s “setting off alarm bells for the rest of the state as well” according to the New York Post.
Sure, officials can always find fat to slice. (It would be disastrous to hike taxes.)
But they need a boost from Cuomo & Co. — specifically, relief from Albany’s onerous mandates, for education and Medicaid spending especially.
And, of course, pension reform.
The gov’s plan to help officials trim retirement costs long-term — shaving benefits slightly, raising retirement ages and reining in abuse — is a must. But it’ll take more than that to save some of these counties.
In the meantime, bankruptcy beckons.