CuomoTARP.blogspot.com; TARP stands for TARPAULIN AND REPROBATES PROTECTOR

Enjoy Christmas And Hanukkah And Face New York State Debt Collapse Next Year

2011-12-24T19:07:00.000-05:00

Merry Christmas, Happy Hanukkah.

Enjoy the Holidays, as New York State and other bankrupt States got a reprieve until the New Year as European bankruptcy issues have been put off in the next year. As soon as Greece fails, attention will shift to the bankrupt US States. Andrew Cuomo and Comptroller DiNapoli know the deficits are rising and the passing of the millionaire's tax will not produce any increase in revenue, because it was offset by tax cuts for the "middle class." Andrew Cuomo has appeased Occupy Wall Street with taxing the millionaires and will use the fact that he was taxing the rich and the State still ran out of money as his excuse next year.

New York State's debt is going way higher next year. Even with wildly optimistic pension earnings predictions, New York Debt per person including local debt is $24,195, this year. For a family of four that is about $97,000. link

A Proposal To Save $1.2 Trillion In Ten Years Sent To Super Debt Committee

2011-11-16T13:11:00.000-05:00

Fax sent to Congress today:                                      November 16, 2011
To: Sen. Patty Murray, Co-Chairwoman Joint Select Committee on Deficit Reduction; Sen. Max Baucus of Montana; Sen. John Kerry; Sen. Jon Kyl of Arizona; Sen. Pat Toomey; Sen.Rob Portman and
Rep. Jeb Hensarling, Co-Chairman Joint Select Committee on Deficit Reduction; Rep.Fred Upton; Rep. Jim Clyburn; Rep. Dave Camp; Rep.Xavier Becerra; Rep. Chris Van Hollen.

Re: Instead of saving $2 trillion, save only $1.2 trillion; Something both Democrats and Republicans can agree on at the Super Committee
Save $120 billion dollars a year, right now, and save $1.2 Trillion in ten years.
Medicaid beneficiaries unharmed.
The winners: The Super Committee, USA taxpayers, California and 36 other States, NY State's local taxpayers
The losers: crooked state employees, other Medicaid fraudsters/profiteers.
Score unchanged: Medicaid recipients

Dear Congressional Super Debt Committee:

    Your committee is reported to not reach a deal. Here's a deal for both Republicans and Democrats to stick it to some fat cats. You can reduce the earlier proposal to save $2 trillion to a lower savings of $1.2 trillion in ten years by adding 10% or 15% or more to the median State's Medicaid payment per Medicaid recipient to the block grant rate. The State of California doesn't harm its Medicaid beneficiaries and the State of California would gain even more cash with this revised solution.   My larger $2 trillion proposal had been submitted to you earlier and it lowers Medicaid spending, cuts out the Fat Cats feeding on Medicaid, doesn't harm Medicaid needy recipients, shifts responsibility and expenses for Medicaid enforcement to the States. The details have been spelled out for you in several faxes to your Committee, other Congressional committees and members of Congress in the following 8 faxes with links to them at my blog post site:
1. Congressional Super Debt Committee Receives Plan to Reduce Medicaid by $2 Trillion Dollars Without Harming Beneficiaries

2. New York's Non-Profit Fat Cats Fatten On Medicaid And Contribute To Cuomo

3. Super Debt Committee Sent A Fat Cat Medicaid Diet Program And Special Prosecutor Called For

4. Congress Asked For Special Prosecutor To Replace Eric Holder Prosecuting NY Medicaid Fraud

5. The Ready To Go Democrat And Republican Debt Reduction Which Cuts $200 Billion This Year

6. Real Debt Cuts Ready To Go Today; $200 Billion This Year; $2 Trillion In Ten Years; Both Democrats And Republicans Can Support.

7. Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

8. Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud

     This is a no-brainer for both Republicans and Democrats.   You have lots of independent data supporting the proposed savings available in the links within the above faxes.

Solution: 1. Let the States rein in their own Fat Cats, nepotism, and the one half million dollars and higher paid executives feeding on public funds covered up with a non-profit label.
2. Save $120 billion dollars a year, right now, and save $1.2 Trillion in ten years.
3. The Super Committee kicks out the rich fat cats.

Sincerely yours,

CuomoTARP.blogspot.com

cc: Reid and Boehner

Super Committee Can Save $2 Trillion And Kick The Million Dollar Fat Cats Out

2011-11-10T11:24:00.000-05:00

Fax sent to Congress today:                                      November 10, 2011
To: Sen. Patty Murray, Co-Chairwoman Joint Select Committee on Deficit Reduction; Sen. Max Baucus of Montana; Sen. John Kerry; Sen. Jon Kyl of Arizona; Sen. Pat Toomey; Sen.Rob Portman and
Rep. Jeb Hensarling, Co-Chairman Joint Select Committee on Deficit Reduction; Rep.Fred Upton; Rep. Jim Clyburn; Rep. Dave Camp; Rep.Xavier Becerra; Rep. Chris Van Hollen.

Re: Repeat message: Something both Democrats and Republicans can agree on at the Super Committee
Save $200 billion dollars a year, right now, and save $2 Trillion in ten years.
Medicaid beneficiaries unharmed.
The winners: The Super Committee, USA taxpayers, California and 24 other States, NY State's local taxpayers
The losers: crooked state employees, other Medicaid fraudsters/profiteers.
Score unchanged: Medicaid recipients

Dear Congressional Super Debt Committee:

    Here's a proposal for all at the Super Committee.   Neither Democrats nor Republicans want to finance Cuomo's sister receiving unknown compensation and the husband of Cuomo's cousin receiving a million dollars in yearly compensation dealing with Medicaid. The State of California doesn't harm its Medicaid beneficiaries and the State of California would gain more cash with the proposed solution.   I'm an unpaid lobbyist for the People both Democrat, Republican, Tea Party and Occupy. My proposal has been submitted to you earlier and it lowers Medicaid spending, cuts out the Fat Cats feeding on Medicaid, doesn't harm Medicaid needy recipients, shifts responsibility and expenses for Medicaid enforcement to the States. The details have been spelled out for you in several faxes to your Committee, other Congressional committees and members of Congress in the following 8 faxes with links to them at my blog post site:
1. Congressional Super Debt Committee Receives Plan to Reduce Medicaid by $2 Trillion Dollars Without Harming Beneficiaries

2. New York's Non-Profit Fat Cats Fatten On Medicaid And Contribute To Cuomo

3. Super Debt Committee Sent A Fat Cat Medicaid Diet Program And Special Prosecutor Called For

4. Congress Asked For Special Prosecutor To Replace Eric Holder Prosecuting NY Medicaid Fraud

5. The Ready To Go Democrat And Republican Debt Reduction Which Cuts $200 Billion This Year

6. Real Debt Cuts Ready To Go Today; $200 Billion This Year; $2 Trillion In Ten Years; Both Democrats And Republicans Can Support.

7. Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

8. Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud

     This is a no-brainer for both Republicans and Democrats.   You have lots of independent data supporting the proposed savings available in the links within the above faxes.

Solution: 1. Let the States rein in their own Fat Cats, nepotism, and the one half million dollars and higher paid executives feeding on public funds covered up with a non-profit label.
2. Save $200 billion dollars a year, right now, and save $2 Trillion in ten years.
3. The Super Committee kicks out the rich fat cats.
Witnesses available.

Sincerely yours,

CuomoTARP.blogspot.com

cc: Reid and Boehner

Cuomo's High Tech Future For New York Looks Not To Be Profitable

2011-11-08T08:05:00.000-05:00

"Dreams of windpower, green jobs and high tech sugar plums danced in his head."

         Cuomo and New York State awoke from their fanciful dream of a profitable high tech computer chip factory in Malta, New York to discover the company, GlobalFoundries needs cash and is willing to give up future tax credits which would offset future taxes.   GlobalFoundries wants to trade $700 million in tax credits it has coming to it at a tremendous discount. According to two well-placed public officials, the computer chip manufacturer building a giant factory in Malta approached state leaders recently and sought $165 million in cash promptly.   Although NY State rejected the request, because where would NY State get that cash with all its budget woes.

       Do Cuomo and NY State realize unprofitable facilities always close. They don't stay open to keep jobs and tax revenues flowing. Gone are Cuomo's dreams of income tax revenues from the future 1,600 employees and the expansion of local business serving the future employees and the company.   GlobalFoundries said, "We have been exploring many different proposals. ... Whether or not we build out the site will be a business decision based on various considerations, including customer needs and the state's ability to continue to partner with us."

Will Cuomo become a crony capitalist and further investor and the taxpayers become the paying suckers?
Will this be Cuomo's Solyndra in New York, where NY State loses its $665 million dollar investment already spent?

The windmills in Lake Erie fail.    Two NY solar energy plants close. Computer chip manufacturing is endangered. The NYS high tech future fizzles. What new jobs and income tax revenues will Cuomo expect now?
How will NY State pay off its bonds?

Small Business Health Insurance Policies Disappear Under Cuomo

2011-11-07T08:00:00.000-05:00

Whither Greece goes, so will Cuomo's New York

(Papandreou to resign in failure)

Greece like New York with its "Son of Mario" legacy governor and Greece's son and grandson of the great socialist leader, Papandreou, head in the same direction, until they like Margaret Thatcher said, "run out of other people's money." Andrew Cuomo's socialist health hacks are controlling medical insurance prices and coverage and small business health insurance policies are to disappear in 2012. Is this Cuomo's business friendly and small business workers friendly health insurance policy? Empire Blue Cross Blue Shield notified brokers that it is cutting the number of health insurance plans it offers to small groups as of April 1, 2012... Empire will only offer expensive, noncompetitive products to New York City small businesses with between two and 50 workers. 'They will pull the majority of sellable products, and the four or five left are all ones people don't really care about,”

Small business workers will run out of their money getting health insurance. Andrew Cuomo has added unaffordable health insurance costs on top of the highest debt per person of State and local debt, the second highest taxes per person for all States and the largest number of taxpayers leaving the State because of taxes.
Andrew Cuomo, your dream is dead and the people can't afford you.
Business Friendly, are you kidding Andrew?

Legacy government leaders?

Whither Greece?

And wait til New Yorkers have to pay for Cuomo with high interest rates like Italy and Greece.

Super Debt Committee Receives Plan For $2 Trillion in Savings

2011-10-26T09:45:00.000-04:00

Fax sent to Congress today:                                      October 26, 2011
To: Sen. Patty Murray, Co-Chairwoman Joint Select Committee on Deficit Reduction; Sen. Max Baucus of Montana; Sen. John Kerry; Sen. Jon Kyl of Arizona; Sen. Pat Toomey; Sen.Rob Portman and
Rep. Jeb Hensarling, Co-Chairman Joint Select Committee on Deficit Reduction; Rep.Fred Upton; Rep. Jim Clyburn; Rep. Dave Camp; Rep.Xavier Becerra; Rep. Chris Van Hollen.

Re: Something both Democrats and Republicans can agree on at the Super Committee
Save $200 billion dollars a year, right now, and save $2 Trillion in ten years.
Medicaid beneficiaries unharmed.
The winners: The Super Committee, USA taxpayers, California and 24 other States, NY State's local taxpayers
The losers: crooked state employees, other Medicaid fraudsters/profiteers.
Score unchanged: Medicaid recipients

Dear Congressional Super Debt Committee:

    It's been reported you can't find common ground on cuts and that lobbyists of all kinds are lobbying you. I'm an unpaid lobbyist for the People both Democrat, Republican, Tea Party and Occupy. My proposal has been submitted to you earlier and it lowers Medicaid spending, cuts out the Fat Cats feeding on Medicaid, doesn't harm Medicaid needy recipients, shifts responsibility and expenses for Medicaid enforcement to the States. The details have been spelled out for you in several faxes to your Committee, other Congressional committees and members of Congress in the following 8 faxes with links to them at my blog post site:
1. Congressional Super Debt Committee Receives Plan to Reduce Medicaid by $2 Trillion Dollars Without Harming Beneficiaries

2. New York's Non-Profit Fat Cats Fatten On Medicaid And Contribute To Cuomo

3. Super Debt Committee Sent A Fat Cat Medicaid Diet Program And Special Prosecutor Called For

4. Congress Asked For Special Prosecutor To Replace Eric Holder Prosecuting NY Medicaid Fraud

5. The Ready To Go Democrat And Republican Debt Reduction Which Cuts $200 Billion This Year

6. Real Debt Cuts Ready To Go Today; $200 Billion This Year; $2 Trillion In Ten Years; Both Democrats And Republicans Can Support.

7. Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

8. Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud

     So your Super Committee knows and lots of other committees in Congress and Congressmen know of this proposal. You have lots of independent data supporting the proposed savings available in the links within the above faxes.

Solution: 1. Let the States rein in their own Fat Cats, nepotism, and the one half million dollars and higher paid executives feeding on public funds covered up with a non-profit label.
2. Save $200 billion dollars a year, right now, and save $2 Trillion in ten years.

       In addition, the Super Committee can require all fraudulent prior Medicaid payments to a State to be first deducted from present payments.   The Super Committee kicks out the rich fat cats, saves $2 trillion dollars in ten years and succeeds.

Sincerely yours,

CuomoTARP.blogspot.com

Cuomo Comes In Second In Comparison With California's State Debt

2011-10-25T11:08:00.000-04:00

Right now the Europeans and their States like Greece are feeling the heat. And the cat is now out of the bag about State debt in the USA. In the latest news California beat out New York for the highest total debt by $612 billion to $305 billion. This needs to be corrected by debt per person or using populations of 34 million for California and 19 million for New York which results in $18,000 for California and $16,000 for New York.
But these are only state government debts and when you include local debt, New York comes out on top at $24,195 per person. Right now investors are concerned over Greece and Europe, but that will change to the US States soon hereafter. The debt chickens for USA States will be coming home to roost very soon.
Will they still love Andrew when the State's down and out broke?

Pay For Andrew Cuomo At Either The State or Local Level In Franklin County

2011-10-11T12:04:00.000-04:00

Prince Andrew promises a glorious future, if only we could afford him.

How will Andrew Cuomo's economic plans be financed at the local level? In northern New York, Franklin County aims to override 2% property tax cap. "The slow recovery of the national, state and local economies from the most recent recession and the continued financial obligations imposed on the county by the state in the form of mandated-government activities not fully funded by the state are conditions beyond the control of the county government," Franklin County school Sales Taxes taxes had already gone up 1%. Wait till Franklin County residents discover the implications on school and local taxes from Comptroller Dinapoli's changes to pension contributions at schools and municipalities which can be passed on without regard to the 2% tax cap.

Taxes rising. taxpayers fleeing NY State at highest rate in nation, windmills chased, the most Medicaid fat cats and we have our leader Andrew Cuomo ready to spend and spend, while promising to not increase NY taxes at the State level.

You always pay in one way or the other for Cuomo's spending.

Congress Asked For Special Prosecutor To Replace Eric Holder Prosecuting NY Medicaid Fraud

2011-10-05T10:44:00.000-04:00

Fax sent to Congress today: October 5, 2011

To: Michele Bachmann, Ron Paul, Allen West, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators; and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; the Senate Judiciary Committee; and the House Judiciary Committee

Re: The People of the USA want their stolen billions back from NY State.
A Special Prosecutor for the for NY State officials and others defrauding Medicaid. Eric Holder has an 18 year history of covering up for Andrew Cuomo when billions of dollars are missing. Congressional oversight is required.

Dear Senate and House Judiciary Committees and others in Congress:
            In his Fast and Furious testimony, Eric Holder is shown a perjurer at the least. But if Holder authorized or allowed the sale of these guns to cause the deaths of Mexicans or Americans he becomes a Principle in the more serious crime of murder. Eric Holder cannot be trusted in anything.

   Eric Holder has failed (deliberately?) to recover the billions of federal dollars funding New York State's Medicaid fraud and feeding the non-profit Fat Cats in New York. Even Governor Andrew Cuomo has founded his own non-profit which is paying a half million dollars in executive fees to one of his relatives and where his sister is employed.
link to http://cuomotarp.blogspot.com/2011/09/new-yorks-non-profit-fat-cats-fatten-on.html
Governor Cuomo should taken responsibility to rein in the fraud and excess non-profit compensation in NY State.
http://cuomotarp.blogspot.com/2011/09/congressional-super-debt-committee.html

      NY State has four Federal Court districts and conflicts of interest by lawyers working for the US Justice Department who often move into the NY private sector at more pay.   This Medicaid fraud extracts federal Medicaid funds for non Medicaid uses by the State of New York. The fraud involves the highest levels of NYS Government and is with the knowledge of the NYS Attorney General. Eric Holder's Justice Department has not obtained sufficient cash refunds to the federal government for the frauds reported below.

1. The Times Union reported, "A federal grand jury is continuing to examine allegations that state Health Department managers may have conspired with the Research Foundation for the state University of New York to manipulate audits of New York's $22 billion a year Medicaid program. .... The investigation is centered on a federally mandated program that requires states to randomly audit their Medicaid programs to determine the rate of ineligible recipients of Medicaid benefits. ... Several people who formerly worked for the Research Foundation have alleged that their audits were deliberately sanitized so that New York State would not be penalized for excessive error rates that could have led to New York being penalized or not receiving all or part of approximately $22 billion in federal matching funds.
http://www.timesunion.com/local/article/Were-state-audits-faked-598325.php#ixzz1MeoogW5n

2. "Daily rate for Medicaid patients tops $5,000 in nine institutions in NY and was described as a "cash cow for the State." "Introne, Gov. Andrew Cuomo’s liaison, said state officials were working with the U.S. Centers for Medicare and Medicaid Services “to analyze and resolve the matter."
http://www.poughkeepsiejournal.com/article/20110402/NEWS01/110402002/Daily-rate-for-Medicaid-patients-tops-5-000?odyssey=tab%7Cmostpopular%7Cimg%7CFRONTPAGE

3. It was reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

4. $22 billion dollar fraud as NYS Keeps Getting Caught For Committing Fraud, But There Never Seems to Be Any Consequences
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

5. Was Cuomo MIA With A $1.2 Billion Per Year Fraud?
http://cuomotarp.blogspot.com/2010/09/was-cuomo-mia-with-12-billion-per-year.html

6. An additional $400 million dollars in NY Medicaid fraud and Cuomo MIA http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-corruption-allowed-400.html

7. Eric Holder* has known since 1993 of New York State's complicity in defrauding the Federal government since Holder was a US attorney for D.C. and signatory to the "Denoncourt" consent order where New York State paid the U.S. $26.97 Million To settle federal funding fraud.
http://www.justice.gov/opa/pr/Pre_96/December94/725.txt.html

8. Holder, as Deputy Attorney General, was covering up for Cuomo for the $17 billion and then $59 billion dollars missing at HUD under Cuomo and his refusal to prosecute despite the recommendation of the the Inspector General and also, the Farkas scandal and the GAO reported HUD mortgage flipping frauds.
http://thekomisarscoop.com/2006/08/fees-for-our-friends-the-scandal-that-taints-andrew-cuomo/
http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-predatory-heart-of.html
http://www.villagevoice.com/2006-08-29/news/andrew-cuomo-s-2-million-man/

A Special Prosecutor must be appointed because of
1. Eric Holder's continuing conflicts and the conflicts of Justice department attorneys;
2. Holder's failure to act on this continuing Medicaid crime for 18 years by NYS involving the highest levels of NY State government;
3. Holder's long history of failing to prosecute crimes involving Andrew Cuomo. The NY offices of the US Attorneys have local conflicts which require a Special Prosecutor without ties to local interests and political figures.

     Have Eric Holder explain to your committees why he has failed to prosecute and obtain refunds, even with a prior "Denoncourt consent decree" signed by Holder at Justice Department years ago. Then ask for a Special Prosecutor.    The People of the USA want their stolen billions back from NY State.

Sincerely yours,

CuomoTARP.blogspot.com

*In 1988, Ronald Reagan appointed Holder to serve as a judge of the Superior Court of the District of Columbia. Holder left the bench in 1993 to become US Attorney for the D.C. by Bill Clinton. The Denoncourt action was brought in D.C.. Holder was the US Attorney for D.C. and oversaw the case from 1993 through the settlement order in 1994. In 1997, Clinton nominated Holder to be the Deputy Attorney General.

See blog post; NY's Fat Cats Fatten On Medicaid and Contribute To Cuomo

P.S. 1. the above links can be accessed directly in the copy of this letter at CuomoTARP.blogspot.com
2. Others have reported these frauds in letters to Congress.
3. witnesses available.

Federal Title 18 Crimes committed by NY State Employees and others:
§1035. False statements relating to health care matters
§1031. Major fraud against the United States
§286. Conspiracy to defraud the Government with respect to claims
§287. False, fictitious or fraudulent claims
§1621. Perjury generally
§1622. Subornation of perjury

Cuomo Quixote's Windmills Go Bust In Lake Erie

2011-10-04T09:07:00.000-04:00

Don Andrew Cuomo's Glorious Quest to be "El Presidente" requires windmills to be conquered. The peasants and their businesses will thank him for making them pay the added costs for Wind Power. Business friendly, peasant friendly, green friendly, a shining knight and Champion for all.

Don Quixote in Madrid

Cuomo's Power Authority's fresh water watermills went bust when the New York Power Authority pulled the plug on the offshore wind farm project, NYPA officials said it wasn’t “fiscally prudent” because even a 150-megawatt project – on the small side of the agency’s guidelines–would require subsidies of $60 million to $100 million a year. That was two to four times the subsidy a similarly sized land-based wind farm would require to be economically feasible. “A larger project would just yield a larger subsidy,” But the subsidy wouldn’t have just lasted for a year or two. NYPA would have paid them for 20 years. So on even a small-scale project, it would have cost $1.2 billion to $2 billion in subsidies over 20 years just to make the project work financially.
So the brilliant Power Authority trustees are launching a new push for a big wind farm off the Long Island shore, where the demand for electricity is greater. Will the Don Cuomo tilt more money at these salt water windmills? Don Cuomo is so greenly correct. Could Don Cuomo deny the glorious future of wind energy? Pick up the green lance and charge past the failure of salt water windmills in Spain. Don Cuomo's Glorious Quest includes being a champion for the Lady Green. Windmills will be conquered and made to serve for all. Damn the cost to reap the glory.

Wanna buy some NY Power Authority Bonds, cheap?

See: New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee?

New York Exodus As Tax Payers Flee At The Highest Rate In USA.

Small-business lobbyist Mike Durant noted, New York has "consistently ranked worst or in the top three worst in business climate. You can't suck every penny out of people and expect them to remain in New York."

The Prodigal Cuomo Is Broke And Temporarily Survives By Not Paying Bills

2011-09-28T07:40:00.000-04:00

The poor is hated even by his own neighbor, but the rich hath many friends.~ Proverbs 14:20.

       The Prodigal Cuomo's spending has the State finances on a razor edge according to Comptroller DiNapoli. But the reality for Cuomo and DiNapoli is the State is already in the red. The gimmicks, fantasy revenue expectations and unpaid delayed bills do not balance a budget. Specifically,
1. There are $500 million in delayed personal income tax refunds.
2. Franklin County County Manager and Budget Officer Thomas Leitz said the state owes the county reimbursements for services it has already provided through its Department of Social Services, its Nursing Home and the Public Nursing Services... as of last Thursday, it is owed $3.8 million from Albany.
3. Clinton County is owed about $6.1 million, according to the County Treasurer's Office.
4. There are 40+ other counties owed money by NY State.
5. The State budget expected a growth in income tax revenues to follow from National growth and that fantasy is now devastated as Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession.
6. NYS Income tax revenues from NYC financial businesses are a major source of NYS revenues, but how do they earn money if investors are dumping everything.
7. Expected increases in Sales tax revenue is another budget pipe dream as "Consumers earned less and spent less ... The government data shows how Americans are struggling after the worst recession since the Great Depression.The Labor Department says in its annual survey of consumer behavior that spending fell 2 percent last year."

    Comptroller Dinapoli had said, "Still, the Blue Chip consensus economic forecasts for growth continue to be revised downward, raising concerns for the remainder of the fiscal year.”
     Will Comptroller DiNapoli have this honest talk with the Prodigal Cuomo?

"The State's in the red. We're not paying our bills. Our hoped for income tax revenue increases have become decreases. And sales taxes going up?"

Then when Prodigal Cuomo finishes crying, DiNapoli must continue with, "You felt great as the Big Man who spent lots of money after Hurricane Irene. Now it has to be paid for and FEMA local and state grants require a 25% contribution. The Big Man has to come up with the money, too"

Will the People still love you, Andrew, when they have to pay the bills?

P.S. We can't borrow more. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. (New York leads California in official debt per person by 29% and the debt is greater than the average for all States by 73%.)

Andrew Cuomo's Business Friendly New York Clashes With Pepper Sprayed Crying Girls

2011-09-26T07:44:00.000-04:00

Is Prince Cuomo heeding Machiavelli with the pepper sprayed crying girls?
Better to be feared than loved ~ Machiavelli

Lorenzo di Piero de' Medici

to whom the final version of

the Prince was dedicated.

Does Andrew Cuomo look like a modern day Lorenzo de' Medici? Will Cuomo act like a modern day Lorenzo? New York State's Comptroller DiNapoli has said New York State finances are on a razor edge.     Then, the USA days of Rage hit Wall Street.   Wall St. protests ended in mayhem. and Wall Street protesters, many of whom are young girls, are cuffed, pepper-sprayed during 'inequality' march. Will Cuomo ignore those pain-filled girls who are crying?

   An organizer's website, #OccupyWallStreet, says it's more than a Hashtag - It's Revolution in Formation. Their Revolution is aimed at the people who pay the taxes Prince Cuomo needs to run NY State government.     Will Prince Cuomo let these revolutionaries, drive the biggest New York State Taxpayers out, or diminish their earnings? Without their NY State Income Tax payments, Prince Cuomo's State would be pushed off the Comptroller's described razor's edge.

       Meanwhile, the greedy billionaire Mayor Bloomberg has said he wants to keep his billions and will not fairly share them with the needy.   Is the Progressive Prince Cuomo's heart ready to increase taxes on the poor to satisfy billionaire Bloomberg's idea of fairness? Will Prince Cuomo's heart or his head rule?

This could be Prince Cuomo's defining moment. He's loved by 77%. But, Machiavelli in "The Prince" said, "it would be best to be both loved and feared. But since the two rarely come together, anyone compelled to choose will find greater security in being feared than in being loved."

Prince Andrew (de' Medici?)

So, Will Prince Cuomo let the girls cry, save the bankers and their revenues and continue his rule securely in New York?
Or are the crying girls calling attention to the hand writing on the walls of Cuomo's Wall Street?
"Mene, Mene, Tekel, u-Pharsin" which was translated for the final Babylonian King Belshazzar as, "God has numbered your remaining days in power; your number is up; you've been weighed and found deficient; and your State will be divided up financially and given to its creditors."

Andrew Cuomo needs lots of "Ron Pauls"

2011-09-22T11:44:00.001-04:00

Humpty Dumpty sat on the wall

Humpty Dumpty took a great fall

Up to the mythical bar in the Sky strutted Andrew Cuomo, the big man in New York. He tamed the State's budget crisis. He appointed committees to fix everything.   He rebuilt the infrastructure damaged by Irene and prepared for his ascension to president.    But like all prodigal sons, the end was unexpected. Will his friends who he bought drinks for at the bar love him when he asks them for money?
     Back on Earth, Comptroller DiNapoli at Cuomo's "Ministry of Finance and Hope" has shown his "prodigal prudence" by lowering his estimate of safe Pension fund returns from 8% to 7.5%.   Will DiNapoli be able to get Madoff freed from jail to help obtain this 7.5% safe return.    There are lies, damn lies and finance weasel's doublespeak. The following words of DiNapoli were issued from the "Ministry of Finance and Hope:"
   "DiNapoli: State’s finances on a ‘razor-thin’ margin"
1. “Revenue collections, as anticipated, have grown from last year,”
2. “Still, the Blue Chip consensus economic forecasts for growth continue to be revised downward, raising concerns for the remainder of the fiscal year. We should be prepared for the possibility that revenue growth may falter, requiring downward adjustments to the Financial Plan.”
3. The General Fund ended August with a balance of $1.6 billion, $0.7 million lower than projected in the Financial Plan updated August 2. Receipts, including transfers, grew $3.1 billion over last year primarily because of higher personal income tax (PIT) collections in April and $500 million in delayed refunds that lowered last year’s revenue. PIT collections ended the month $45.2 million lower than the latest projections. Spending, including transfers, increased $1.2 billion (5.5 percent) from the same period last year and was $77.4 million below projections, primarily because of local assistance and transfers to other funds.
   Or translating from Weasel, the budget isn't getting the expected revenues; we booked $500 million in delayed tax refunds as revenue when it is an unpaid expense (luckily no jail, like in private business); and we didn't transfer money we were supposed to to other accounts.

     Meanwhile back at the mythical bar, Cuomo and DiNapoli ordered two stiff drinks and discussed the news on Earth:
1. In Rhode Island, General Treasurer Gina Raimondo is calling the state's underfunded pension system a "death spiral"   and the State of RI went to court and lost when, "A Rhode Island judge has ruled in favor of state employee labor unions in the first round of a major legal challenge to state pension reform."

DiNapoli: "They used 8% and I'm using 7.5%. Hick"

Cuomo: "In NY, unions needn't go to court because pensions are protected in our NY Constitution. What's a death spiral?"

2. "The president urged Congress to pony up roughly $200 billion in taxpayer money to "provide more jobs for teachers [and] more jobs for construction workers" and more money to carry out other state and local activities.
These vast contributions to the coffers of state and local governments, though pitched as a jobs bill, are in reality the latest in a series of bailouts for debt-ridden state and local governments. They are of special benefit to states in the blue regions of the country where the president's most fervent supporters reside."
DiNapoli: We need that money or we're broke. Give me another shot.
Cuomo: [animated] They'll never cut me off I'm Andrew, Son of Mario, future President, New World Order Leader.

3. "Stock futures are plummeting after the Federal Reserve indicated the U.S. economic slump could last for years.

The Fed took steps to stimulate the economy Wednesday that had largely been expected. But investors were troubled because the central bank's statement showed it expected a deep and persistent downturn."

Dinpoli: We needed a recovery; we needed growth; we needed their money. [Orders a double}
Cuomo: {gulping down his drink] The world will change. My daddy told me I'll rule. Let them work harder. The world and I need their money.

4. "Call it the recession's lost generation. In record-setting numbers, young adults struggling to find work are shunning long-distance moves to live with Mom and Dad, delaying marriage and buying fewer homes, ... They suffer from the highest unemployment since World War II and risk living in poverty more than others - nearly 1 in 5. ... recent college grads now getting by with waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market eventually does improve."

DiNapoli: I want to cry at home. The retirees are fleeing NY. The young have no hope. Who's going to pay our bills?

Cuomo; They're not a lost generation; they have me!

Bartender hands check to the Big Man

Cuomo; Don't give me the bill; give it to him.
DiNapoli: What do you mean, no IOU's and you'll only take a Ron Paul? link

Super Debt Committee Sent A Fat Cat Medicaid Diet Program And Special Prosecutor Called For

2011-09-20T09:00:00.000-04:00

Fax sent to Congress today:                                      September 20, 2011
To: Sen. Patty Murray, Co-Chairwoman Joint Select Committee on Deficit Reduction; Sen. Max Baucus of Montana; Sen. John Kerry; Sen. Jon Kyl of Arizona; Sen. Pat Toomey; Sen.Rob Portman and
Rep. Jeb Hensarling, Co-Chairman Joint Select Committee on Deficit Reduction; Rep.Fred Upton; Rep. Jim Clyburn; Rep. Dave Camp; Rep.Xavier Becerra; Rep. Chris Van Hollen.

Re: Multi-billion dollar fraud:
1. Medicaid must help the medically needy and not the needy NY State non-profit executives.
2. Stop federal funds from feeding Fat Cats hidden in non-profits and reduce the DEBT
3. In NY State a Special Prosecutor is required for the Major Criminal Fraud by NY State officials and others taking billions of dollars a year in federal Medicaid funds. Eric Holder and the NY Offices of the US Attorney have failed to prosecute and obtain refunds. Holder has an 18 year history of covering up for Andrew Cuomo when billions of dollars are missing. Congressional oversight of the Justice Department is needed.

Dear Congressional Super Debt, Oversight and Judicial Committees:

    Why should billions of federal dollars fund New York State's failures to remove its Fat Cats feeding on federal funds. Governor Andrew Cuomo has founded his own non-profit which is paying a half million dollars in executive fees to one of his relatives and where his sister is employed.
link to http://cuomotarp.blogspot.com/2011/09/new-yorks-non-profit-fat-cats-fatten-on.html
Medicaid block grants as per my prior fax to Congress would let Governor Cuomo take responsibility to rein in fraud and excess non-profit compensation in NY State.
http://cuomotarp.blogspot.com/2011/09/congressional-super-debt-committee.html
   In addition, the Super Committee can require all fraudulent prior Medicaid payments to a State to be first deducted from present payments. As I've previously written to Congress, there is a severe problem in NY State, which has four Federal Court districts, and a conflict of interest by lawyers working for the US Justice Department who may wish to move into the NY private sector at more pay.   The Medicaid fraud extracts federal Medicaid funds for non Medicaid uses by the State of New York. Such a fraud would involve the highest levels of NYS Government and with the knowledge of the NYS Attorney General. Eric Holder's Justice Department has not obtained cash refunds to the federal government for the frauds reported below.

1. The Times Union reported, "A federal grand jury is continuing to examine allegations that state Health Department managers may have conspired with the Research Foundation for the state University of New York to manipulate audits of New York's $22 billion a year Medicaid program. .... The investigation is centered on a federally mandated program that requires states to randomly audit their Medicaid programs to determine the rate of ineligible recipients of Medicaid benefits. ... Several people who formerly worked for the Research Foundation have alleged that their audits were deliberately sanitized so that New York state would not be penalized for excessive error rates that could have led to New York being penalized or not receiving all or part of approximately $22 billion in federal matching funds.
http://www.timesunion.com/local/article/Were-state-audits-faked-598325.php#ixzz1MeoogW5n

2. "Daily rate for Medicaid patients tops $5,000 in nine institutions in NY and was described as a "cash cow for the State." "Introne, Gov. Andrew Cuomo’s liaison, said state officials were working with the U.S. Centers for Medicare and Medicaid Services “to analyze and resolve the matter."
http://www.poughkeepsiejournal.com/article/20110402/NEWS01/110402002/Daily-rate-for-Medicaid-patients-tops-5-000?odyssey=tab%7Cmostpopular%7Cimg%7CFRONTPAGE

3. It was reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

4. $22 billion dollar fraud as NYS Keeps Getting Caught For Committing Fraud, But There Never Seems to Be Any Consequences
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

5. Was Cuomo MIA With A $1.2 Billion Per Year Fraud? http://cuomotarp.blogspot.com/2010/09/was-cuomo-mia-with-12-billion-per-year.html

6. An additional $400 million dollars in NY Medicaid fraud and Cuomo MIA http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-corruption-allowed-400.html

7. Eric Holder* has known since 1993 of New York State's complicity in defrauding the Federal government since Holder was a US attorney for D.C. and signatory to the "Denoncourt" consent order where New York State paid the U.S. $26.97 Million To settle federal funding fraud.
http://www.justice.gov/opa/pr/Pre_96/December94/725.txt.html

8. Holder, as Deputy Attorney General, was covering up for Cuomo for the $17 billion and then $59 billion dollars missing at HUD under Cuomo and his refusal to prosecute despite the recommendation of the the Inspector General and also, the Farkas scandal and the GAO reported HUD mortgage flipping frauds.
http://thekomisarscoop.com/2006/08/fees-for-our-friends-the-scandal-that-taints-andrew-cuomo/
http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-predatory-heart-of.html
http://www.villagevoice.com/2006-08-29/news/andrew-cuomo-s-2-million-man/

        Eric Holder must appoint a Special Prosecutor because of 1. his continuing conflicts and the conflicts of Justice department attorneys ; 2. his failure to act on this continuing crime for 18 years by NYS involving the highest levels of NY State government; and 3. his long history of failing to prosecute crimes involving Andrew Cuomo. The NY offices of the US Attorneys have local conflicts which require a Special Prosecutor without ties to local interests and political figures.

Solutions: 1. Use Medicaid block grants to shift the costs of this corruption directly to NY State and eliminate the over twenty years of fraud by NY State in the Medicaid program.

2. Have Eric Holder explain why he has failed to prosecute and obtain refunds, even with a prior   "Denoncourt consent decree" signed by Holder at Justice Department years ago. Then ask for a Special Prosecutor.

3. Testimony and data to end this massive fraud within NYS Medicaid and assist in making sure that the proper refunds is public knowledge.

4. Let the states like NY rein in their own Fat Cats, nepotism, and the one half million dollars and higher paid executives feeding on public funds covered up with a non-profit label.

     You can call the Bill, "The Fat Cat Medicaid Diet Program."

Sincerely yours,

CuomoTARP.blogspot.com

*In 1988, Ronald Reagan appointed Holder to serve as a judge of the Superior Court of the District of Columbia. Holder left the bench in 1993 to become US Attorney for the D.C. by Bill Clinton. The Denoncourt action was brought in D.C.. Holder was the US Attorney for D.C. and oversaw the case from 1993 through the settlement order in 1994. In 1997, Clinton nominated Holder to be the Deputy Attorney General.

attached: blog post; NY's Fat Cats Fatten On Medicaid and Contribute To Cuomo

P.S. 1. the above links can be accessed directly in the copy of this letter at CuomoTARP.blogspot.com
2. Others have reported these frauds in letters to Congress.
3. The need for Block Grants and a bankruptcy for States proposed law were in earlier letters to Congress and available at these links:
http://cuomotarp.blogspot.com/2011/04/three-billion-dollar-medicaid-fraud-by.html
http://cuomotarp.blogspot.com/2011/05/medicaid-block-grants-would-save-ny.html
http://cuomotarp.blogspot.com/2011/01/bankruptcy-cat-is-out-of-bag-and-some.html

Federal Title 18 Crimes committed by NY State Employees and others:

§1035. False statements relating to health care matters
§1031. Major fraud against the United States
§286. Conspiracy to defraud the Government with respect to claims
§287. False, fictitious or fraudulent claims
§1621. Perjury generally
§1622. Subornation of perjury

cc: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Chuck Grassley, Sen. Finance

New York's Non-Profit Fat Cats Fatten On Medicaid And Contribute To Cuomo

2011-09-19T07:21:00.000-04:00

"The noble NY Non-Profit Fat Cat takes his fair share first, then shares the rest with the needy politicians and the deserving poor."

Non-Profit Fat Cat

Not only NY State itself, but also, NY "non-profits" benefit from NY State's corruption in Medicaid as was reported to the US Congress from this site. Cuomo followed the money and moved his "pay for protection and/or favorable treatment plan" from his attorney general's office to his governorship. Attorney General Cuomo decried "pay to play cash" in the Comptroller's office, while simultaneously Cuomo pocketed the "cleanly laundered" cash from the lawyers of litigants with pending court actions against the State of New York.

The New York Times ran a series of articles on abuses at non-profits and handsome executive compensation. Governor Cuomo responded with his latest "pay for protection" initiative when, "Cuomo recently created a task force of high-level aides to investigate high salaries at nonprofits that receive state funding." Supposedly, these highly paid Cuomo hacks will operate independently of Cuomo fund raising. But the initiative has a stench to it, said Susan Lerner, executive director of Common Cause/New York. "This is just another way in which having to raise large amounts of money privately can make things uncomfortable after the election is actually won." While non-profits don't make any profits distributed to owners as dividends, they do make profitable income sources for their executives. Within NY State's Medicaid system, the lax enforcement for criminal frauds committed by NY State employees and Non-profit executives encourages corruption. This led to a call for a special prosecutor at the federal level for fraud which has been rampant since 1996 in NY State Medicaid.

The Daily News connected the dots of "giving to Cuomo," Medicaid and getting large compensation with these reports,
"1. George McDonald and two family members, who gave Cuomo a combined $39,500... McDonald is president of The Doe Fund,...The Doe Fund... has won nearly $4 million in state grants on top of another $790,000 from 26 legislative grants....The Doe Fund's latest IRS 990 form states 20 individuals each make more than $100,000 in total compensation, with the top 14 employees paid a combined $2.8 million in 2009....McDonald as president had a total compensation package of $507,156... His wife, Harriet Karr-McDonald ... received $226,503...his son, John McDonald ... was paid $215,542...[also], George McDonald leases office space to the Doe Fund.
2.- Dr. Steven Safyeer, president and CEO of Montefiore Medical Center. Safyeer earned $1.97 million in compensation. He donated $16,000 to Cuomo.
3. Robert Conaty, executive vice president for operations at Montefiore Medical Center. His compensation totaled $1.45 million. He donated $20,000 to Cuomo.
4. Dr. Herbert Pardes, CEO of New York-Presbyterian Hospital. Pardes' compensation was $2.8 million. He donated $12,000 to Cuomo.
5. David Rich, executive vice president for the Greater New York Hospital Association. Rich earned $1.1 million in total compensation He has donated $67,000 to Cuomo."

Should a Special Federal Prosecutor examine the acts of Cuomo's Medicaid Redesign Team in allocating Medicaid funds?

Non-profit feeding at the government trough has been a profitable family business for the Cuomos. "The ...boss of a nonprofit group founded by Gov. Cuomo, ...Help USA's President and CEO Laurence Belinsky recently gave up his $500,000 annual salary to pursue private housing development...Cuomo founded the outfit in 1986. It provides services to the homeless and receives city, state and federal funding [keeping the business within the Cuomo public/private family]. Cuomo reportedly pocketed $60,000 a year when he was at the helm...Cuomo's sister, Maria Cuomo Cole, is the chairwoman of Help USA. Belinsky, is said to be married to one of Cuomo's cousins."

Will the Cuomo family non-profit(s) be examined for excess compensation, nepotism and Medicaid fraud, too?

CC: Congress

Prodigal Conservative Cuomo Splurges On Irene, While Liberal Vermonters Proceed Frugally

2011-09-16T22:18:00.000-04:00

Thank God, Prince Cuomo is the government dream that New Yorkers want and they deserve to get it good and hard ~ H. L. Mencken adopted

A New York Fiscal Conservative
versus Vermont Liberals

Here are the words about Fiscal Conservative Cuomo on the reopening Rt. 73 in the Adirondacks:

(Although, New York State and local government will pay 25% or more)
"he does not foresee the state having to borrow any money to pay for the cleanup and recovery."
"Cuomo's office inventoried what it took to get both lanes open by Monday: approximately 150,000 tons of stone; a total of 2,700 man-hours of labor; as well as a squadron of trucks, excavators, rollers and tree-removal machinery."
“government actually worked”

(Cuomo shows his toughness and leadership qualities.)
"people jump when the governor says jump."
"either wheels are going to roll or heads are going to roll."
He gave out T-shirts with 'Governor Andrew Cuomo's Labor for your Neighbor Hurricane Clean-Up Team'

(Cuomo overrules the civil engineers.)
"initial analysis projected the repairs taking two months"
"7 days after the Governor promised the highway would be open in 10 days, Rt. 73 reopened".

Here are the Liberals speaking in Vermont:

"I think the worst thing that we could do for policy-wise or as a state government is to go in and throw money after something where we really haven't made a full assessment in doing that. I think that's where you end up throwing good money after bad," said Sen. John Campbell, D-Vt. President Pro Tem

Governor Shumlin says sorting out the costs and who ends up paying for what could take months. "We're in a long marathon here, not a sprint,"

After the voters pay the bills, will they want more of Shumlin and Campbell's liberal frugality or Cuomo's conservative prodigal style?

Perhaps, Cuomo should have heeded that note from his remedial arithmetic tutor.

Dear Andrew,
1. Bye, bye, balanced New York State budget.
New York economy takes MULTI-BILLION hit from Irene on vital weekend... as experts warn U.S. clean-up cost will outstrip Katrina
2. In construction, the rule is measure twice and cut once.
3. In finance, it's figure the cost first, find the cash second and then spend third.
4. Where are you or the counties or the towns going to get the money? The tooth fairy doesn't have that 25% share.
5. Did you ask why civil engineers would allow time for compaction of fill material?
6. Overtime and double overtime is expensive and a wise man does his arithmetic.
7.Are these roads just going to be rebuilt in the Spring, because of haste now?
Finally, 1+1=2 applies to thousands and millions and billions of dollars.

Check out: New York Taxpayers Find The Local Tax Cap And Balanced Budget Were Only To Fool The Suckers

Congressional Super Debt Committee Receives Plan to Reduce Medicaid by $2 Trillion Dollars Without Harming Beneficiaries

2011-09-11T21:32:00.000-04:00

A Fax sent to the Joint Select Committee on Deficit Reduction on Sunday evening                  September 11, 2011

To: Sen. Patty Murray, Co-Chairwoman Joint Select Committee on Deficit Reduction; Sen. Max Baucus of Montana; Sen. John Kerry; Sen. Jon Kyl of Arizona; Sen. Pat Toomey; Sen.Rob Portman and
Rep. Jeb Hensarling, Co-Chairman Joint Select Committee on Deficit Reduction; Rep.Fred Upton; Rep. Jim Clyburn; Rep. Dave Camp; Rep.Xavier Becerra; Rep. Chris Van Hollen.

Re: Proposed law for Easy Debt Reduction with Medicaid beneficiaries unharmed. Save $200 billion dollars a year, right now, and reduce the need to borrow and save $2 Trillion in ten years.
The winners: USA taxpayers, California and 24 other States, NY State's local taxpayers
The losers: crooked state employees, other Medicaid fraudsters/profiteers.
Score unchanged: Medicaid recipients

Honorable Senators and Representatives on the Joint Select Committee on Deficit Reduction and others in Congress:

        Senator Kerry asked for suggestions to reduce debt. Obama wants you to reduce debt by an additional $450 billion dollars and wasn't specific, leaving the details to your committee.    But this proposal is specific. Here is a plan to reduce debt right now, with $200 billion this year and $2 trillion in ten years. Since neither Republicans, nor Democrats need or want to fund Medicaid fraud, this Committee can cut $200 billion a year without harming the needy on Medicaid. Medicaid block grants will shift responsibility for fraud control to the States.    Andrew Cuomo and Eric Holder are knowledgeable of the billions of dollars frauds reported below. And you would reward California, as well as saving municipal and local/county New York State taxpayers the cost of matching the fraudulent money taken.

     The Wall Street Journal reported how $1 billion disappeared in one part of NY Medicaid fraud; "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

Proposed law: Each state shall receive a block grant for all said state's Medicaid costs determined by multiplying the number of Medicaid recipients in the year 2010 in said State by the average of the rates paid in 2010 year to the 25th and 26th ranked states when all the states are ranked in order by their average Medicaid per recipient of federally received Medicaid money.

     Such Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year ($2 trillion dollars in ten years) and shift responsibility for overcharges, frauds and other misuse of Medicaid funds to the individual States.    In example: in New York State, let Andrew Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid."
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php

Block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct of State employees in federal court. A State like California and 24 others would benefit from this change.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

    With block grants, beneficiaries would be unharmed as money received is comparable and greater than in 25 states, such as California.   Medicaid benefits per individual would remain above the amount paid in California, which State we know is not stingy with helping the needy,   The spendthrift States could then police their own Medicaid expenditures, while federal dollars for federal investigations and funding for the Justice Department investigations would be reduced.

     This letter is a condensed recap of an earlier post on CuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries which is included with this fax and has links for confirming data. Another post, dated July 5, 2011, was sent to Congress and dealt with the need for Federal prosecution to get back the money already stolen: Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud

Witnesses available.

Sincerely yours,

CuomoTarp.blogspot.com,

[please access web site for working links]

cc: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Chuck Grassley, Sen. Finance

The Conservative Darling, Andrew Cuomo, Praises Government And Is Unharmed In Weekend Shootings

2011-09-08T07:55:00.000-04:00

Thank God, Prince Cuomo is the government dream that New Yorkers want and they deserve to get it good and hard ~ H. L. Mencken adopted

Listen to 57 seconds of our Prince Andrew, the fiscal Conservative, the Progressive, the lover of government, the lover of immigrants and Dauphin in waiting to be our King and President.

I am government and government is good

And to highlight the success of NY government's Prince Cuomo in protecting us: In spite of 48 people being shot and "a shooting a few blocks off the route of the annual West Indian Day Parade... [which] left two police officers wounded and three people dead Monday," our great Prince was protected his armed Police and left safely.

Then, that same little boy who embarrassed the Emperor asked:
How come you and Bloomberg have guns protecting you?
Who'll keep us safe from your abuses?
Discrimination against immigrants; how about discrimination against taxpayers?
Who in government should we thank for our failing schools?
Who's climbing the government rungs of opportunity in your Hoods?
Isn't the enemy of President Obama, the truth?
Why do taxpayers pay more than a tithe at 12.1% to New York? link
Why do I have the highest State debt per person in the USA? link
Why do taxpayers flee your government paradise? link
Why do businesses think you're unfriendly? link
What happened to that $76 billion dollars you misplaced? link
Who made you Prince? Your daddy?

A Cuomo Hack Involved When $17 Billion Was Missing, Followed The Next Year By A Missing $59 Billion At HUD Is Running Hurricane Irene Recovery

2011-09-06T08:10:00.000-04:00

Those who cannot remember the past are condemned to repeat it. ~ George Santayana

Did Cuomo and his lawyer, Glaser, reach their level of incompetence at HUD with $76 Billion in missing money? ~ Peter Principle

Where the $76 billion dollars went

Andrew Cuomo gave his old HUD hack, Howard Glaser, aka State Directer of Operations, control of the Irene repair effort. "Glaser, who served as Cuomo's Deputy Counsel during his tenure as President Bill Clinton’s HUD secretary, said the governor’s experience on the federal level was and will be brought to bear throughout the storm and recovery."

The people should know that Cuomo's experience on the federal level was a fiscal disaster . "When Cuomo became HUD Secretary in 1997, he axed a federal program that had saved the U.S. $2.2 billion between 1994 and 1997 and reinstituted a system that lost the government money while earning billions for favored friends. That wasn’t the only big money lost. When Cuomo was secretary, HUD reported that $59 billion was missing! It couldn’t say where they money went, because it failed to produce audited financial statements. The Department of Housing and Urban Development is renowned for corruption. Historically, fraud has been so pervasive and blatant that the Sopranos episode on it was disturbingly realistic."

This is how Cuomo handled public money:
"In fiscal year 1998, HUD had “undocumentable adjustments” of $17 billion: that is, $17 billion could not be accounted for. In fiscal 1999, HUD announced that it required $59 billion of “undocumentable adjustments” to balance the books and that it would not provide audited financial statements as required by law."

The "compassionate" Cuomo did not want those taking any of the $59 billion to suffer a government witch hunt and so, "Cuomo did not order the HUD Inspector General to investigate the reason for the missing billions or to try to get the money back."

Who's watching Howard Glaser and our money this time?

Prodigal Andrew Cuomo Is Spending And Spending

2011-08-29T08:28:00.001-04:00

The Albany Follies Show's expenses continue their steep climb. Where will Cuomo get the money, when Cuomo and Silver hacks give 27% raise to judges over three years. That was slightly less than the 31% expected by Chief Judge Lippman as reported here in Cuomo And Chief Judge Lippman Dance Around Phony Budget Numbers On The Albany Titanic Barge which described The earlier Albany Follies Show as:

Cuomo struts out looking tough by forcing a 7.5% decrease on Courts' budget. The first scene's script had Lippmann wanting only a 3.7% decrease and Cuomo wanting a 10% decrease and 7.5% compromise resulted. (Applaud, please) But, the final scene has the surprise ending when, Lippman expects a Commission to give raises to the 1,300 Judges, with pay for Supreme Court Judges rising from $136,700 to more than $179,000 or 31% increase or $48 million dollars in judicial salaries to added to Lippman's budget.

So now, 1. Judge Lippman gets more cash and Cuomo now needs $14 million dollars to pay judges 9% more this year.

2. Cuomo's forgot contingency funding this year for the Judges who are suing for $780 million in back pay which will be added to the years budget deficit.

3. Cuomo forgot to include in his NY State budget increased spending for all state workers' pension contributions by 3.6% as reported on this blog earlier.

4. New York economy takes MULTI-BILLION hit from Irene on vital weekend... as experts warn U.S. clean-up cost will outstrip Katrina

Bye, bye, Cuomo's balanced New York State budget.

Hello, more unexpected taxes and bond sales?

New York Taxpayers Find The Local Tax Cap And Balanced Budget Were Only To Fool The Suckers

2011-08-26T08:21:00.000-04:00

Didn't Cuomo promise local taxes would be capped at 2%?
Did Cuomo insert a weasel clause in his tax cap?
What balanced budget? Will more taxpayers flee?

Weasel ~ n. 2. a treacherous or sneaky person.
Weasel out ~v. to back out of a situation in a sneaky or cowardly manner

       The pension funding tax increases faced by schools due to Comptroller DiNapoli's decrees that were reported previously on this blog in Smoke And Mirrors As DiNapoli And Cuomo Hide Pension Costs While Schools Will Need Contribute 54% Of Salary To Pension Funds, are now being reported for municipalities. New York State Comptroller Thomas DiNapoli decrees state and local governments will cough up more money for their workers' pensions. The average contribution rate to the state pension fund for public workers will rise from 16.3 percent of salaries to 18.9 percent. The average for the police and fire retirement system will rise from 21.6 percent to 25.8 percent. The Comptroller admitted that "the Common Retirement Fund has had two consecutive years of strong investment returns. However, we are still incorporating the market loss of 2008-09 into our employer contribution rates."    The Comptroller continued with, "It's true the contribution rates are going up and that's a consequence of the severe market decline in 2008 and 2009, but the good news is that we're on the road to recovery, and if you look at the long history of the fund, we've always weathered difficult economic times — we'll get through this tough time as well,"

Local taxpayers discover Cuomo inserted weasel clauses in his local property cap so that schools and "municipalities could pass some of the higher pension costs on to property taxpayers because the state's new property tax cap has an exclusion for part of the pension hikes." And so Cuomo has an excuse which he forgot to mention when he was prancing about congratulating himself on not raising taxes.   "The Cuomo administration argued the exemption balances out the damage done by the 2008 financial crisis, which made less pension fund money available. With less money from the fund, localities are forced to fill the gap."

     Now, hold your wallet really tightly
   Cuomo forgot to include in his NY State budget increasing state worker pension contributions by 3.6%. Now, add this to the judges' raises Cuomo's committee will add today at their final meeting.
[Link to judges' salary and Cuomo.]

     When will Comptroller DiNapoli and Cuomo tell us that NY State, its schools and local governments need to fund their retiree health benefits of $56.3 Billion In Presently Unfunded Liabilities.   Bye, bye, Cuomo's balanced New York State budget.

     If you think this local tax increase is bad, wait till you discover that these increases are based upon Comptroller DiNapoli's lowering the promised safe rate of return on pension investments from 8.0% to 7.5%.    Luckily, DiNapoli and Cuomo are running public pension plans where the federal law allows an assumption of an 8.0% or 7.5% return on investments without criminal penalties and joining Madoff in prison does not result.   A real safe yield rate for private pensions would be the US Treasury 10 year rate of 1.99% to 2.16%. Such a safe rate would mean the increases in pension contributions required could be calculated from DiNapoli's present increase based upon a rate reduction from 8.0%-7.5%=0.5% to a true safe rate reduction of 8.0% -2.0% = 6.0%.     Since 6.0% is 12 times 0.5%, the required pension contributions should be 12 times DiNapoli's present increases. Or, 59.5% of salary for public workers and 72.0% of salary for police and fire.

   The taxpayer wagon trains will be forming in your community soon. Texas, Florida or Wisconsin or bust.

See New York Exodus As Tax Payers Flee At The Highest Rate In USA

New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee?

Where's The Independent Audit Of NY Pensions?

2011-08-23T09:48:00.000-04:00

The independent audit overview of New York Pension funds is here at this blog for now. So as the relentless hounds of economic reality circle in on Cuomo and New York State Pension Finances, here are some of the latest reports:
1. E.J. McMahon, a senior fellow at the conservative Manhattan Institute for Policy Research, said the asset levels of virtually all public pension funds are below 2007 levels despite the recovery of the market in 2009 and 2010. "Pension funds promise returns on investments -- 7 percent to 8 percent or more a year ...They still think there is a 'long-term norm,he said of fund managers. The events of the last two months are a reminder of how wrong that might be."

2. "Because so many government pension systems are underfunded , their managers have been chasing high returns by betting heavily on volatile investments ...Even with the run-up in the market earlier this year, New York’s pension assets were still some $9 billion lower than their peak in 2007 — before the financial crisis."

3. Teacher pension fund joins California auditor's high risk list

While California has an independent auditor making a report, in New York we have the Pension Fund Manager, DiNapoli, making his own audit. The New York Controller claims he can make safe investments with a 7.5% return and his own audit confirms it? Can the Comptroller walk on water, too?

See in regard teacher's pensions: Smoke And Mirrors As DiNapoli And Cuomo Hide Pension Costs While Schools Will Need Contribute 54% Of Salary To Pension Funds

See in regard NYS pension costs: New York State Will Likely Default And Rating Agencies Will Be Liable If They Fail To Properly Rate NYS Bonds

And NY State's pensions are a Madoff style Ponzi scheme where NYS promises a 7.5% "safe return" when that is impossible

Cuomo's Dog And Pony Show Is Run Over By A Herd Of Elephants

2011-08-22T08:02:00.001-04:00

"Knowing how to count is important for a Prince."

      Governors Cuomo and Christie ran their Port Authority Sideshow Act where a $4 toll increase is announced and the two governors come to the rescue and lower it to a $1.50 increase.   Yeah for our heros, Cuomo and Christie, and their script writers. The play acting continues in New York as the heroic Cuomo struts triumphant after "members of New York’s largest union of state employees, in a begrudging acknowledgment of the increasingly hostile mood toward public workers, have agreed to accept major wage and benefits concessions sought by Gov. Andrew M. Cuomo."

      "Savings from the five-year contract are expected to total $73 million this fiscal year, part of the $450 million in cuts that Mr. Cuomo’s budget counted on extracting from the state work force."   But, "A day after his members ratified a new five-year contract, Civil Service Employees Association President Danny Donohue said his crew has sacrificed enough - and opposes Gov. Cuomo 's drive to reduce long-term pension costs."

So Cuomo has a $450 million dollar saving, while NY State has not funded its retiree health benefits of $56.3 Billion In Unfunded Liabilities   and NY State's pensions are a Madoff style Ponzi scheme where NYS promises a 7.5% "safe return" when that is impossible with losses of up to $7.3 trillion dollars.   Poor Andrew may have had difficulty with arthimetic in school and not learned that there are a thousand millions in one billion and a million millions in a trillion.

$450 million is 0.8% of $56.3 billion. $450 million is 0.006% of $7.3 trillion.

Smoke And Mirrors As DiNapoli And Cuomo Hide Pension Costs While Schools Will Need Contribute 54% Of Salary To Pension Funds

2011-08-18T11:09:00.000-04:00

"The sky is falling and the taxpayers fleeing" ~ Economic Grim Reaper on impending fiscal collapse.

   Could Andrew Cuomo be arithmetically challenged in regard the NY Pension underfunding and other impending disasters with his budget?   Yes. Could Andrew be a silver spoon fed son of Mario whose head is swelled with dreams of his coming Presidency? Yes Could Cuomo believe he lives under different rules of ethics because his father Mario anointed him, Governor and President? Yes, because that explains how Cuomo took a $45,000 campaign check from a law firm while Cuomo's deputies were probing one of its attorneys for his role in the pay-to-play pension scandal.

   Meanwhile, Comptroller DiNapoli still touts his achievement that "in September 2010, the Fund [teacher's] lowered its assumed investment rate of return to 7.5 percent." No honest retirement fund can safely earn 7.5% in today's market, except if you are Bernie Madoff. A private pension manger would be spending time in jail for such lying fraud. But Dinapoli wasn't done with misleading and fraudulent claims of solvency for pension funds he managed. He was touting the great returns his funds earned in a one year period such as "Domestic public equities returned 17.6 percent, while international public equities returned 14.3 percent. Real estate investments yielded a 26.7 percent return, while private equity investments generated an 18.9 percent return. The Fund’s emerging markets equities returned 16.1 percent, while Treasury Inflation-Protected Securities yielded 9.7 percent and core fixed-income investments returned 8 percent."   But DiNapoli forgot to mention that those returns were from huge earlier losses in 2009 recession. "John Cardillo, a spokesman for the teachers' retirement fund, said the fund is still trying to make up for a steep decline two years ago."

   Even worse for those teacher funds, the schools now are paying based on DiNapoli's phoney improved safe rate of return which he lowered from 8% to 7.5%. The schools complain that "in 2010, the pension rate was 6.2 percent of payroll and forced schools to collect about $926 million. Now at 11 percent, schools will have to pay nearly $1.7 billion, according to preliminary estimates." Wait till the schools and ultimately the taxpayers discover that an honest safe rate of return for pension funds would be slightly above the 10 year treasury bond rate or very generously 3%.   Doing the arithmetic: going from 8% -3% =5% is ten times greater than going from 8%-7.5% = 0.5%. So a 3% safe rate of return would require the schools pay ten times the present increase of (11%-6.2% =) 4.8% to an increase of 48%, which must be added to the prior 6.2% for 54.2% of salary to be contributed to the pension funds.    And wait, Cuomo and DiNapoli forgot to tell schools they have to fund retiree health benefits.

   How will schools do it with Cuomo's budget cap law? Will more taxpayers flee?   Wanna buy some NYS bonds?

New York State Will Likely Default And Rating Agencies Will Be Liable If They Fail To Properly Rate NYS Bonds

2011-08-16T13:42:00.000-04:00

Copy of letter sent August 16, 2011

To: Moody's Investors Service, Inc.,101 Federal Street, Suite 1900, Boston, MA 02110
Standard and Poors, 55 Water Street New York, New York 10041
Fitch's, One State Street Plaza, New York, NY 10004
Dagong Global Credit Rating Co.,Ltd
29/F, Unit A, Eagle Run Plaza, No.26 Xiaoyun Road,Chaoyang District,Beijing, P.R.China 100125

Re: US Rating agencies will face a large liability for improper ratings for NY State Bonds. Default/bankruptcy coming shortly. Catastrophe in waiting: Average NYS non-financial sector income of $50,400 a yr. results in less net income than average NYS dole benefit of $42,000 a yr.

Dear Rating Agencies:
       How long do the rating agencies think this can continue in NY State? While NY State pays the average public assistance person $42,000 a year in benefits according to Lou Dobbs's radio show on 8/15/2011, the average non-financial sector NY State income was $50,400.* And NY State relies more heavily on personal income tax for its revenue than other States.* When will the federal government cut off NY State's Medicaid program which is run as a fraud, where NY State mischarges the federal government $22 billion dollars to fund its non-medicaid State budget? Andrew Cuomo's business friendly NY has fizzled. Meanwhile, Andrew Cuomo failed to begin to change the NY Constitution to end unaffordable pension costs.

      "A word to the wise is sufficient." The US based rating agencies will have a large liability, if NY State bonds are improperly rated. The future possibility of repaying NY State bonds not backed by a dedicated revenue source is non-existent. NY State bonds finance State agencies as well as State government. Some bondholders, such as Thruway bonds or Dormitory bonds, receive first dibs on revenues, if the State doesn't pay on time. Other bonds are backed by the full faith and credit of NY State without a dedicated revenue source. But if the State doesn't have enough cash in revenue, how can it pay?

These are the details:
First, this is the text from NY State Constitution: §7. After July first, nineteen hundred forty, membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired. (Adopted by Constitutional Convention of 1938 and approved by vote of the people November 8, 1938.)

Then, in regard retiree costs:
  1. Although, Chris Christie reformed pension and benefit costs in New Jersey, Andrew Cuomo failed to ask this session of the Legislature for a Constitutional Amendment to change the above clause which prohibits NYS from changing any retirement contractually promised benefits, such as Health Insurance and Pensions. Such an amendment must first be passed by this and then the next legislative session and then finally approved by the voters.
http://cuomotarp.blogspot.com/2011/08/rating-agencies-informed-as-new-york.html

    2. NY State has not funded its retiree health benefits which were part of State workers' contracts with NYS and are constitutionally protected. NewYork Adds $56.3 Billion To Its Unfunded Liabilities

    3. NY State's pensions are a Madoff style Ponzi scheme where NYS promises a 7.5% "safe return" when that is impossible. All the undeposited funds needed to properly fund the pension funds and the losses of up to $7.3 trillion dollars are liabilities of NYS. Any higher taxes to fund this shortfall would create a stampede of taxpayers getting out of NY State..

Then in regard taxpayers

4. Taxpayers are fleeing NYS at the largest rate in the USA.   Who'll repay the bonds?

    5. NY State has the highest local and State debt per person and the second highest taxes paid per person of any State but New Jersey.    New York Debt per person including local debt is at $24,195. For a family of four about $97,000.   Will NYS raise taxes even higher and borrow more?

    6. Andrew Cuomo will not attract business or its potential taxes to NYS because NYS has the next to lowest business friendly rating of all the States.   When NY businesses repay the $ 3.6 billion dollar Unemployment Insurance loan to the Federal government this November 2011, NYS will become a business pariah.

7. What happens when the millions of NYS taxpaying residents earning the average non-financial $50,400 or less discover their net income is less than the average dole recipient's $42,000 a year?   Do they leave the State or go on the dole?

Then, in regard State revenues:
   8. The NY Comptroller predicts rising numbers of non-taxpayers in the NY State Medicaid system*.

   9. NY State funded 14% of its budget this year with one time funds that will not be available in future years.

   10. Andrew Cuomo's Budget director says, he has no ability to finance spending commitments already. This was recorded at a 7/20/2011 hearing of Cuomo's Commission on Judicial Compensation: "We don't even have the ability to finance the spending commitment that are already in place, said Robert L. Megna."

    The Bottom Line:

a rapidly rising NYS expenditure for retiree and others' benefits
a reduced number of businesses in NYS paying taxes and paying workers
more NYS Medicaid non-taxpayers
taxpayers fleeing the State
NY State will run out of cash from its diminishing revenue sources
NY State either defaults or goes bankrupt if Congress enables State Bankruptcy by a new law
a tax revolt when those millions earning the average non-financial income of $50,400 or less realize that the average NYS dole recipient receives $42,000 yr. in benefits

And the US rating agencies would be sued by all the suckers still holding devalued and defaulted NYS bonds. And Dagong may have protected foreign investors and exposed the hopeless finances in New York State.

Sincerely yours,

CuomoTARP.blogspot.com

*See Financial Condition Report for Fiscal Year 3/31/2010

P.S. Please access website for working links to all data.

Rating Agencies Informed As New York State Pension Funds Have Estimated Losses of $7.3 Trillion Dollars

2011-08-11T09:44:00.000-04:00

Letter: August 11, 2011

To: Moody's Investors Service, Inc.
101 Federal Street, Suite 1900
Boston, MA 02110
Standard and Poors
55 Water Street New York, New York 10041
Fitch's
One State Street Plaza, New York, NY 10004

Re: Trillions in losses and fraudulent pension asset assumptions in New York State, also, New Jersey. Potential civil and federal criminal liability

Dear Sirs: You are promising to report on States. New York State is liable for its Pension funds' losses and underfunding. This is to inform you that NY State Pension Funds have estimated losses of approximately $7.3 trillion dollars and NYS's assumption of a safe return of 7% can only be characterized as a fraud. It is not possible for NYS to fund its Pension obligations and/or losses through taxes or by changes in employee contributions which are contractually determined, because of the NY State Constitutional Provision copied here:
   #7. After July first, nineteen hundred forty, membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired. (New. Adopted by Constitutional Convention of 1938 and approved by vote of the people November 8, 1938.) Note that Andrew Cuomo is making no efforts to amend the NY Constitution in regard pensions.

        In regard to New Jersey, it was reported that, "to justify an 8.25% interest assumption assets were in investments that could possibly generate that return so, as of May 31, 2011, the plan’s $74.7 billion was allocated 27% in domestic equity, 30% in bonds, 20% in international equity, and 17% in alternative investments. With only about $300 million in employee contributions coming in over the last two months, while $1.3 billion in payouts left on top of this 10%+ investment drop the plan likely has about $65 billion this morning."   In New York State things are worse, because of NYS Constitutional restrictions on Pension Changes and the trillions of dollar size.

    The NYS Comptroller reports:
The following table summarizes the market values for March 31, 2010 and 2009 (In Thousands):

Asset Type               3/31/2010 Market Value %of total
Domestic Equity      $ 51,495,373             38.9%
International Equity    21,178,608             16.0
Private Equity           12,799,735              9.7
Absolute Return Strategy 3,817,538        2.9
Real Estate                   5,551,078              4.2
Core Fixed Income 33,726,066            25.4
Mortgage Loans         845,721             0.6
Short-term Investments 3,086,085         2.3

Total Investments        $ 132,500,204           100.0%

Market losses have exceeded 10% in both domestic and international equities with estimated losses of $7.3 trillion dollars for NYS's portfolio.   Real Estate is substantially decreasing in value in NYS. Get a good laugh at the 119 page long list of funds held by NY State and ponder how the NY State Comptroller can keep tabs on such a large number of funds.

Now look at Comptroller's investment returns reported last in 2010

    Based on Market Values as of March 31, 2010.
                               Annualized Rate of Return
                    1 Year        3 Years       5 Years        10 Years
Total Fund            25.87%        -1.68%         4.16%          3.75%
Domestic Equity    51.70         -4.10          2.20           0.52
International Equity 56.77         -5.00          5.52           2.72
Private Equity          11.61          2.40         12.82           8.56
Absolute Return
Strategy                 14.95         -0.44          3.29             —
Equity Real Estate -27.77        -17.65         -0.11           9.56
Core Fixed Income 7.92          7.00          6.06           7.57
Treasury Inflation
Indexed Securities    5.01          5.75          4.34             —

        The Core Fixed Income and Treasury Inflation Indexed investments cannot expect to earn anywhere near the 7% assumption. In its latest action, the Federal Reserve has frozen interest rates for the next two years and 10 yr Federal returns would be for the next two years at 2.14%, not 7.0%.

   Bottom line is New York State has an estimated $7.3 trillion dollars in Pension losses and no possible way to fund them, nor to earn 7.0% safe return with 10 yr. Treasuries at 2.14%. Please read my prior post New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee? concluding with, Who'll repay the bonds?

   As you, the rating agencies, may note in the new law suit against Bank of America, there will be consequences for those not reporting truthfully. Please also be aware of Federal Law Title 18 as to who may be charged in a federal criminal action.

TITLE 18 PART I CHAPTER 1 #2. Principals
Whoever commits an offense against the United States or aids, abets, counsels, commands, induces or procures its commission, is punishable as a principal.
Whoever willfully causes an act to be done which if directly performed by him or another would be an offense against the United States, is punishable as a principal.

Sincerely yours,

CuomoTARP.blogspot.com

P.S. Please access website for working links to all data.

New York State Rating Downgrade: Who'll Repay The Bonds As Taxpayers Flee?

2011-08-08T12:59:00.001-04:00

Who pays the bonds off, when the taxpayers flee.

     Did the media (including Fox News), the politicians of both parties and the media pundits lie to you that the US would/could default on its debt? Alan Greenspan said on Sunday,""The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default."

Are New York politicians or the sycophant New York media to be trusted? Will New York debt be downgraded? Unlike the federal government, New York can quickly default.

   Here's a buyer's guide to New York State bonds or more likely a seller's guide:

1.NY Businesses Howl At $21.25 Per Worker, While Cuomo's Budget Will Require An Additional $478 Per Worker In November.

2. New York State has the highest debt per person in the USA ($24,195) and the second highest taxes per person ($6,884).   Andrew Cuomo's Budget director says, he has no ability to finance spending commitments already. This was recorded at a 7/20/2011 hearing of Cuomo's Commission on Judicial Compensation: "We don't even have the ability to finance the spending commitment that are already in place, said Robert L. Megna, who was speaking on behalf of Governor Andrew Cuomo, who appointed three of the commission's seven members."

3. Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person. New York's Taxes paid by residents as percentage of income are 12.1%   "The state [NY] has one of the highest state and local tax collections per capita, an average of $6,884.     According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."

4. Rating Agencies Informed As Cuomo's Budget's Imagined $ 4.3 Billion In Revenue Increases Disappears

a. The Cuomo Business Friendly Bubble Burst, when NY was ranked 49th out of 50 States as Business Friendly.   While the Cuomo stooge at the NY Economic Development Agency described his own policy as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed."

b. Cuomo's expected tax revenues took another dive into red ink with latest report. "A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the second month in a row as new orders worsened, while core inflation rose at its highest pace in three years."

c. This business contraction affects the revenue increases which finance Cuomo's spending. Cuomo had balanced his budget with imagined revenue increases and Cuomo used temporary sources for 14.7% of his budget revenue, such as, Federal stimulus money (threatened in present federal debt debate), "voluntary contributions" from NY Power Authority and other authorities (they'll charge you higher rates) and delaying paying NY State Income Tax refunds.

d. Cuomo's unrealized revenue fantasies reported by the Comptroller include:
    i. Personal Income tax receipts in 2011-2012 will increase $2.9 billion or 7.9% (but decreased employment reported)
    ii. User taxes and fees (sales and tobacco taxes)will increase $467 million or 3.3 % (but tobacco tax increase will fail link 1 link 2 and workers earning less or unemployed spend less)
   iii. Business taxes will increase $894 million or 12.3% (but business declines)
   iv. Payroll Tax will increase $63 million or 4.6% (but, rising unemployment including State layoffs decrease payrolls)
A budget shortfall of $4.3 billion dollars must be borrowed this year.

5. New York Pension Books are Cooked

6. Cuomo has a "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."

7. Cuomo's budget used the "Madoff-like" assumption of a 7.5% safe return on pension investments. and continues to allow borrowing to fund contributions.

8. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.

Finally, 9. Who'll repay the bonds? New York Exodus As Tax Payers Flee At The Highest Rate In USA. New York State businesses also will flee.   Small-business lobbyist Mike Durant noted, New York has "consistently ranked worst or in the top three worst in business climate. You can't suck every penny out of people and expect them to remain in New York."

cc: Moody's, Fitchs , Standard and Poors

New York Exodus As Tax Payers Flee At The Highest Rate In USA

2011-08-03T09:12:00.001-04:00

Wanna locate a business in New York? Pharaoh Andrew beckons.
Wanna not be taxed for the Cuomo fantasy? Join the largest Exodus in the USA. The Promised Land ain't New York.

New York State attains another new high with "the greatest loss nationally of residents to other states for the second decade in a row." Small-business lobbyist Mike Durant noted, New York has also "consistently ranked worst or in the top three worst in business climate. You can't suck every penny out of people and expect them to remain in New York." This is added to New York's other trophies such as Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person where Cuomo lost out by a small margin.

And while New York's Taxes paid by residents as percentage of income are 12.1%, " [NY] has one of the highest state and local tax collections per capita, an average of $6,884. According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."

New York State and Cuomo have the largest debt of any State in the USA with New York Debt per person including local debt at $24,195. For a family of four about $97,000. How many more business will leave NY when they discover that NYS must repay in November the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 ; that's $3.1 billion? Business which leave quickly could avoid a $478 per worker assessment.

To Businesses, taxpayers, government leeches. Cuomo promises something for all of you.
Wanna pay the highest taxes?
Wanna get the highest benefits for not working?
Wanna get a framed portrait of Pharaoh Andrew for veneration within your home?
Wanna buy a bridge?

Or join the taxpayer's Exodus.

NY Businesses Howl At $21.25 Per Worker, While Cuomo's Budget Will Require An Additional $478 Per Worker In November

2011-08-01T09:56:00.001-04:00

Andrew Cuomo promised Hope, Change and Business Friendly.

New York businesses are howling because "The state is subsequently levying an "Interest Assessment Surcharge," which is based on a percentage of total taxable wages paid between October 2009 and September 2010. The maximum of $21.25 per worker applies to any employee making more than $8,500 yearly. The levy applies to every employer, including non-profits and local governments."

Wait till they get the bill for $478 per worker required in November because Cuomo did not fund repaying loans for unemployment insurance from the federal government in the NY state budget.

In the picture, note that the man in white is stealing from the man watching. He is looking skyward to cause others to look up instead of at the deceivers. link

What will the illusionist, Andrew Cuomo, do with the Unemployment debt of $3.3 Billion dollars borrowed from the federal government, which he must repay this year, which was forgotten in his budget? As of January 21, 2011, New York State, one of 30 States, borrowed $3,343,758,375.70 from the federal government for paying Unemployment Insurance. Six States, Maryland, New Hampshire, South Dakota, Tennessee and Texas, have repaid their loans in full. Since Cuomo didn't budget for this in his budget, he must be planning to pass it through to NY businesses at an average $478 per worker due from employers.

http://cuomotarp.blogspot.com/2011/02/cuomos-smoke-and-mirrors-will-allow.html

The Ready To Go Democrat And Republican Debt Reduction Which Cuts $200 Billion This Year

2011-07-28T21:34:00.000-04:00

Fax to Congress; evening of 7/28/2011

Re: Debt reduction. Save $200 billion dollars a year right now and reduce the need to borrow this money, right now, and save $2 Trillion in ten years. The USA gains; California gains; New York crooks lose.

Honorable Harry Reid, John A. Boehner and others* in Congress:

          Debt reduction right now, $200 billion this year and $2 trillion in ten years. Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. Cuomo and Eric Holder are knowledgeable of this. And this would benefit California.

Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

     Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."

http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "

http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php

Block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A State like California would benefit from this change.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

This is a condensed recap of an earlier post on cuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

Sincerely yours,

CuomoTarp.blogspot.com, Terence Finnan, PO Box 354, Keene NY 12942; 518-576-9734
[please access web site for working links]
* To: Michele Bachmann, Ron Pau Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance

Real Debt Cuts Ready To Go Today; $200 Billion This Year; $2 Trillion In Ten Years; Both Democrats And Republicans Can Support.

2011-07-28T06:26:00.000-04:00

    This is a ready to go debt reduction that both Democrats and Republicans can support. This is a recap of an earlier fax to Congress entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

Copy of letter faxed early this morning.

CuomoTARP.blogspot.com    July 27, 2011

To: Michele Bachmann, Ron Pau Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;

and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance

Re: Debt reduction. Save $200 billion dollars a year right now and reduce the need to borrow this money, right now, and save $2 Trillion in ten years. The USA gains; California gains; New York crooks lose.

Honorable Harry Reid, John A. Boehner and others in Congress:
          Right now, $200 billion this year and $2 trillion in ten years. Neither Republicans, nor Democrats need or want to fund Medicaid fraud. It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. Cuomo and Eric Holder are knowledgeable of this. And this would benefit California.

Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year on just this one item—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

     Medicaid block grants at the median rate of the present Medicaid grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices and are under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."

http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

"The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "

http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php

Instead of waiting for Eric Holder, aka Gidot, to act, block grants at the present median rate would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A State like California would benefit from this change. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.

http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

This is a recap of an earlier post on cuomoTARP.blogspot.com entitled, Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

Sincerely yours,

CuomoTarp.blogspot.com

NY Will Follow Greece; NY Budget Director Reveals NY Can't Finance Budget; Congress Asked for State Bankruptcy Law

2011-07-26T22:08:00.001-04:00

A follow-up letter to Bond Rating Agencies and Congress was faxed/or mailed.

Dated 7/26/2011
To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators; Moody's, Fitch and Standard+Poors;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance

Re: Greece in the USA; NY Budget Director can't finance NY budget; bankruptcy law needed

Dear Congressman and Rating Agencies:

     Moody's reports default on Greek debt almost certain.   New York State has the highest debt per person in the USA ($24,195) and the second highest taxes per person ($6,884). This is a Heads-up call to Rating Agencies and Congress that New York State has run out of money and a Greek-like bail-out request is coming. Andrew Cuomo's Budget director says, he has no ability to finance spending commitments already. This was recorded at a 7/20/2011 hearing of Cuomo's Commission on Judicial Compensation: "We don't even have the ability to finance the spending commitment that are already in place, said Robert L. Megna, who was speaking on behalf of Governor Andrew Cuomo, who appointed three of the commission's seven members." You can hear his testimony from 00:32:34 to 00:56:17 at
http://pointers.audiovideoweb.com/stcasx/va91win1520/Judiciary07202011edit.wmv/play.asx

      Andrew Cuomo claims to balance the State Budget and then approves a Commission to raise judges' pay by 61%, when he can't even pay for the items already in his budget. Sorry, Andrew, if you can't finance your spending commitments, you're broke and will run out of money like Greece.    New York State needs the option to go bankrupt and I've copied a condensed version of my earlier faxed 1/26/2011 letter to Congress, with the simple changes necessary to create a Chapter 10 Bankruptcy for States. link to 1/26 fax post

[condensed] FAX sent dated: 1/26/2011
Someone needs to get the bankruptcy ball rolling; so here goes. A Primer for a State's Bankruptcy:

Why?   New York will go bankrupt because Cuomo is not acting to easily correct $28 Billion dollars Medicaid excesses in NY compared with others States (California).    His proposals to dismiss 12,000 State employees might account for $1.2 billion dollars saved.   That's $1.2 billion out of the $10 billion he claims is the budget deficit. So, Cuomo runs out of cash. But, he's not alone, several governors will join him. They need a cover, who'll stiff the State bondholders and redo employee contractual benefits and pay. It's not me (your beloved Elected Governor), it's the bankruptcy judge.

Is it Constitutional? Yes, because the law proposed below was only modified by replacing the words referring to a ~~State's municipality~~, with the word(s) referring only to a State.   "The first municipal bankruptcy legislation was enacted in 1934. ..., the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. Ashton v.Cameron County Water Improvement District No. 1, [Then] Congress enacted a revised Municipal Bankruptcy Act in 1937, ... which was upheld by the Supreme Court. United States v. Bekins."

                [note:Chapter 9 is the existing law for municipal bankruptcy]
How? The proposed Chapter 10 for States has identically to the existing constitutional Chapter 9, no provision for the sale of assets, nor for such to be given to creditors. Just as in Chapter 9, the bankruptcy court cannot actively mange the State's affairs, and can only approve a reorganization plan submitted by the State. And as in Chapter 9,; the State can use the bankruptcy court to enforce court orders and preclude any connected litigation elsewhere and change contractual agreements.

Details In the proposed Chapter 10:
1. The bankruptcy judge is assigned by the Chief Federal Judge of the State;
2. A list of all creditors can be filed after filing bankruptcy petition;
3. Automatic stays of all collections against the State can be stayed; the court can fix time and manner of the filing of all claims against the State;
4. Only the State and not creditors, nor someone appointed by the bankruptcy court can propose a settlement;
5. The State retains its powers to use its property, raise taxes, and make expenditures and change non-debt contractual relationships;
6. The State can reject collective bargaining agreements and retiree benefit plans;
7. Interested parties may be heard, but no one but the State can file a PLAN for resolution of the debts and obligations.

Proposed Chapter 10:
I've copied sections of the Federal Bankruptcy law for Chapter 9 and would remove text in blue and insert the red text. Other parts of this Chapter 9 would remain unchanged and be renumbered from §§ ~~901-946~~ to §§1001 to 1046

TITLE 11 CHAPTER 9 10
CHAPTER 9 10—ADJUSTMENT OF DEBTS OF A ~~MUNICIPALITY~~ STATE
SUBCHAPTER I—GENERAL PROVISIONS (§§~~901-904~~ 1001-1004)
SUBCHAPTER II—ADMINISTRATION (§§~~921—930~~ 1021-1030)
SUBCHAPTER III—THE PLAN (§§~~941—946~~ 1041-1046)

~~903.~~1003. Reservation of State ~~power to control municipalitie~~s Sovereign power

This chapter does not limit or impair the power of a State to control, by legislation or otherwise, ~~a municipality of or in such State~~ in the exercise of the political or governmental powers of ~~such municipality, including expenditures for such exercise, but—~~ such State, a State law prescribing a method of composition of indebtedness ~~of such municipality~~ of such State may not bind any creditor that does not consent to such composition; and (2)a judgment entered under such a law may not bind a creditor that does not consent to such composition.

~~904.~~ 1004. Limitation on jurisdiction and powers of court
Notwithstanding any power of the court, unless the debtor consents or the plan so provides, the court may not, by any stay, order, or decree, in the case or otherwise, interfere with—any of the political or governmental powers of the debtor State; the debtor’s use or enjoyment of any income-producing property; the sovereign immunity of such debtor State.

~~921.~~ 1021. Petition and proceedings relating to petition 109(d) and 301 of this title, a case under this chapter ~~concerning an unincorporated tax or special assessment district that does not have such district’s own officia~~ls is commenced by the filing under section of this title of a petition under this chapter by such ~~district’s governing authority or the board or body having authority to levy taxes or assessments to meet the obligations of such district.~~ State.
(b)The chief judge of the court of appeals for the circuit embracing the ~~district~~ State in which the case is commenced shall designate the bankruptcy judge to conduct the case. After any objection to the petition, the court, after notice and a hearing, may dismiss the petition if the debtor did not file the petition in good faith or if the petition does not meet the requirements of this title.
If the petition is not dismissed under subsection (c) of this section, the court shall order relief under this chapter notwithstanding section (b)The court may not, on account of an appeal from an order for relief, delay any proceeding under this chapter in the case in which the appeal is being taken; nor shall any court order a stay of such proceeding pending such appeal. The reversal on appeal of a finding of jurisdiction does not affect the validity of any debt incurred that is authorized by the court under section (c)or (d)

~~927.~~ 1027. Limitation on recourse
The holder of a claim payable solely from special revenues of the ~~debtor~~ State under applicable non bankruptcy law shall not be treated as having recourse against the debtor on account of such claim pursuant to section (b) of this title.

[January 2011]By Fax to Chairman and ranking Minority Member of Senate and House Judiciary Committees and the Senate Subcommittee on Administrative Oversight and the Courts and the House Subcommittee on Courts, Commercial and Administrative Law
Patrick Leahy (D-VT); Jeff Sessions (R-AL)
Lamar Smith (R-TX); John Conyers, Jr. (D-MI)
Sheldon Whitehouse (D-RI); Howard Coble (R-NC)

[end of 1/26/2011 condensed fax]

         Here are Constitutional Considerations from blog post dated 1/27/2011 In regard the proposed Chapter 10 Bankruptcy for States:
       Why must Bankruptcy for States be different from ordinary bankruptcy? While, Congress has the power to make laws for bankruptcy under Article 1-Section 8 of the US Constitution, the States cannot make their own bankruptcy laws because of Article 1-Section 8 of US Constitution. Without bankruptcy, States could not void or alter contracts with State employees or bondholders or other contract holders under Article 1-Section 10 of the US Constitution.   States also must honor the judicial acts of other States involving contracts with NY State under Article 4-Section 1 of US Constitution.   And States retain all sovereign powers except those removed by the Constitution based upon Amendment 10.

        The text of relevant sections of US Constitution:

                         Article 1
Section 8. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
Section 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

                         Article IV
Section 1. Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records, and Proceedings shall be proved, and the Effect thereof.

                  Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

    In conclusion, it would be easy to create a Chapter 10 bankruptcy for States. Bankruptcy would allow New York State to alter its present contracts, change its employment contracts and make changes in NY's bondholder's rights, while still allowing NY State to keep its sovereignty as per US Constitution. Also, the federal government would not need to bail-out New York State. The bond rating agencies can update their ratings on New York debt.

Sincerely yours,

CuomoTARP.blogspot.com. [please access web site post dated 7/26/2011 for working links]

Cuomo's New York Comes In Second To New Jersey For The Most Taxes Per Person

2011-07-22T07:39:00.000-04:00

Wanna buy a New York bond? a bridge?

   First, New York State and Cuomo lost out to California for the most "business unfriendly State," as The Cuomo Business Friendly Bubble Bursts.   Then New York State and Cuomo lost out to New Jersey by a small margin as the State where residents pay the most in taxes. New York's Taxes paid by residents as percentage of income are 12.1%   "The state [NY] has one of the highest state and local tax collections per capita, an average of $6,884.     According to the Census Bureau, the top ten counties in the U.S. with the highest property taxes as a percentage of home values are all in New York."

New York State and Cuomo come in first with New York Debt per person including local debt at $24,195. For a family of four about $97,000. Which is the largest debt of any State in the USA.

     "S&P said then there was "at least" a one-in-two chance that it would cut its US rating within the next 90 days, an act that would almost certainly send Washington's cost of borrowing shooting up." "A downgrade of the US sovereign rating, or a "selective default" rating on its bonds, could also force the downgrade of the ratings of individual states and local governments."

New York State's budget has at least an unanticipated $2 billion dollar deficit according to State Budget Director. Unlike Washington D.C. where money can be printed, New York State must borrow.

    How will NYS repay in November the Unemployment Insurance: State Trust Fund Loans of $3,176,873,427.71 ; that's $3.1 billion?

What happens when New York's bond rate rises?   NY's borrowing costs go up from $5.6 Billion to $18.8 Billion?

   Which State's bonds will be downgraded first? Bankruptcy will come to look attractive, but Congress must act first.

New York State Budget Director Reports A $ 2+ Billion Deficit That Must Be Considered Before Judges' Pay Raised 40% Or More

2011-07-21T13:00:00.000-04:00

"All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.

Or, New York's headed to default and the Judge's pay increase could be the final straw.

    New York State must learn that the bond market punishes prodigal State spending, whether it's a Country or New York State. "Early on Thursday morning, after seven hours of talks, Germany and France reached a common position on a second bailout of Greece but details of the accord were not revealed."

While in Albany on 7/20/2011, New York State Budget Director, Robert Megna, told the Commission on Judicial Compensation that New York State has a 2+billion dollar deficit already and although the judges might demand, want or deserve more, New York State has run out of money. The Commission heard lots of self-serving praise of NYS judges by lawyers and the judges themselves and how they needed or deserved a large raise. And, the Commission heard of rampant corruption by NYS judges which was ignored both at the Appellate level and in the Court of Appeals and was covered up by the New York Commission Judicial Conduct headed by Robert Tembeckjian.

     Near the end of Commission testimony, T. Finnan from CuomoTARP told the Commission that the NY State's deficit is more likely to be $5+ billion as a minimum. With the judges expecting a raise to $194,000 to $220,000, Mr. Finnan pointed out the Governor claims only $170,050.   Mr. Finnan noted the Budget Director's earlier testimony about a $2+ billion deficit was just the beginning of the increasing deficit this year for NYS. T. Finnan continued his testimony which paralleled his written submission copied below:

Some States have Surpluses While Cuomo Heads to Default With His Commission Considering 61% Raises For NY Judges on 7/20

Remember when, Gov. Cuomo, said he would cut his $179,000 salary by 5% to $170,050 and that he intended to reduce other salaries of the governor's staff, including the governor's secretary, counsel, director of state operations, counselor and chief of staff. Well things have changed and NY judges want $220,836 and Cuomo wants a commission of hacks to decide.
On Wednesday, July 20, 2011, the Commission to raise judges' pay will hold the only hearing.   Here's what they need to hear. Will judicial raises be the straw that breaks the camel's back? Cuomo has created another committee to do the dirty work of giving judicial raises of up to 61%, while Cuomo hides behind them grinning. While some States have budget surpluses, such as Indiana having $1.2 billion dollars, New York has smoke and mirrors hiding default or bankruptcy. The Cuomo budget revenue predictions were all smoke without any fire and the $4.3 billion dollars expected in increased revenue has vanished with the smoke.
Earlier this year, the Cuomo Medicaid Redesign Team created smoke promising Medicaid savings, when all it did was to replace last year's NY State Medicaid expenditure of $13.8 billion with a cap on this year's expenditure at $15.1 billion, while forgetting that NY won't have the federal stimulus of $5.9 billion received last year.
Meanwhile Cuomo has used mirrors to divert attention from the recommendation of Chief Administrative Judge Ann Pfau to the 2011 Commission on Judicial Compensation to increase judicial pay up to 61%.    Cuomo needed the mirrors to not upset his negotiations with the peons, aka ordinary employees of NY State, to freeze wages for three years in a tentative, five-year contract agreement with Public Employees Federation.    In the Cuomo allegory of Animal Farm, Napolean, aka Andrew, will explain to the other lesser animals that "All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.
Judge Pfau goes on to spout about Fairness, Objectivity, Regularity and finally about Institutional Integrity. But what Judge Pfau forgot was common sense. New York State has run out of money, people are leaving the State because the taxes are too high and the employment possibilities shrinking. While President Obama calls for shared sacrifice, NY Judges demand a 61% pay hike.

   The answers to the Judge Pfau's pleadings are:
1. Fairness must extend to all those lesser earning peons who don't want to pay Judges more and receive less for themselves. Fairness to the People is restitution made to victims of judicial corruption.
2. Objectively, the peons don't trust the courts and its scandals and know why the reported 129,000+ complaints to ExposeCorruptCourts.blogspot.com were ignored.
3. The only Regularity in New York is more taxes, more corruption, more greed, more debt, and more people leaving the State.
4. The NY Court Institution is a joke. The Chief Judge is charged with crimes. The Center for Judicial Accountability documents the huge New York Judicial Corruption and says,“[no] mechanisms are in place and functioning to remove judges who deliberately pervert the rule of law and any semblance of justice and whose decisions are nothing short of ‘judicial perjuries’, being knowingly false and fabricated. Such judges, willfully destroying the lives of countless New Yorkers, the wellbeing of our state, and our democracy as a whole, are unworthy of their current salaries and benefits – being paid by hardworking New Yorkers.”

   This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link    The State will run out of money this year. Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.

Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money.    For the sake and safety of the judges and yourselves, say, "judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."
This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link    The State will run out of money this year.   Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.

Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money.    For the sake and safety of the judges and yourselves, say,"judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."

Some States have Surpluses While Cuomo Heads to Default With His Commission Considering 61% Raises For NY Judges on 7/20

2011-07-20T07:22:00.000-04:00

As I grow older I pay less attention to what men say. I just watch what they do. ~Andrew Carnegie
A fool and his NY bond money will soon be parted by NY State.
     ~An angry mob won't hear your explanations.~

Remember when, Gov. Cuomo, said he would cut his $179,000 salary by 5% to $170,050 and that he intended to reduce other salaries of the governor's staff, including the governor's secretary, counsel, director of state operations, counselor and chief of staff.   Well things have changed and NY judges want $220,836 and Cuomo wants a commission of hacks to decide.

      On Wednesday, July 20, 2011, the Commission to raise judges' pay will hold its only hearing.   Here's what they need to hear. Will judicial raises be the straw that breaks the camel's back? Cuomo has created another committee to do the dirty work of giving judicial raises of up to 61%, while Cuomo hides behind them grinning. While some States have budget surpluses, such as Indiana having $1.2 billion dollars, New York has smoke and mirrors hiding default or bankruptcy. The Cuomo budget revenue predictions were all smoke without any fire and the $4.3 billion dollars expected in increased revenue has vanished with the smoke.

   Earlier this year, the Cuomo Medicaid Redesign Team created smoke promising Medicaid savings, when all it did was to replace last year's NY State Medicaid expenditure of $13.8 billion with a cap on this year's expenditure at $15.1 billion, while forgetting that NY won't have the federal stimulus of $5.9 billion received last year.

   Meanwhile Cuomo has used mirrors to divert attention from the recommendation of Chief Administrative Judge Ann Pfau to the 2011 Commission on Judicial Compensation to increase judicial pay up to 61%.    Cuomo needed the mirrors to not upset his negotiations with the peons, aka ordinary employees of NY State, to freeze wages for three years in a tentative, five-year contract agreement with Public Employees Federation.    In the Cuomo allegory of Animal Farm, Napolean, aka Andrew, will explain to the other lesser animals that "All animals are equal, but some animals are more equal than others," or judges deserve wage increases BUT you don't.

     Judge Pfau goes on to spout about Fairness, Objectivity, Regularity and Institutional Integrity. But what Judge Pfau forgot was common sense. New York State has run out of money, people are leaving the State because the taxes are too high and the employment possibilities shrinking. While President Obama calls for shared sacrifice, NY Judges demand a 61% pay hike.

     The answers to the Judge Pfau's pleadings are:
1. Fairness must extend to all those lesser earning peons who don't want to pay Judges more and receive less for themselves. Fairness to the People is restitution made to victims of judicial corruption.
2. Objectively, the peons don't trust the courts and its scandals and know why the reported 129,000+ complaints to ExposeCorruptCourts.blogspot.com were ignored.
3. The only Regularity in New York is more taxes, more corruption, more greed, more debt, and more people leaving the State.
4. The NY Court Institution is a joke. The Chief Judge is charged with crimes. The Center for Judicial Accountability documents the huge New York Judicial Corruption and says,“[no] mechanisms are in place and functioning to remove judges who deliberately pervert the rule of law and any semblance of justice and whose decisions are nothing short of ‘judicial perjuries’, being knowingly false and fabricated. Such judges, willfully destroying the lives of countless New Yorkers, the wellbeing of our state, and our democracy as a whole, are unworthy of their current salaries and benefits – being paid by hardworking New Yorkers.”

   This Commission on Judicial Compensation is just another Cuomo "slight of hand" to divert blame from him and legislators. What should the commission do about judicial raises in New York? Don't give any raises. New York Debt per person including local debt is $24,195. For a family of four that is about $97,000. link    The State will run out of money this year.   Borrowing will become impossibly expensive. Cuomo claims he should get only $170,050 to be Governor.

Greece is the harbinger of New York State to come. The anger of the People will turn on the greedy Judges and their enablers, including this commission. There is no money to pay these raises. Only fools or scoundrels reward failure and wastefully spend other people's money.    For the sake and safety of the judges and yourselves, say, "judges, share the sacrifice; New York State is broke; the NY debt is already the largest in the USA; no raises, because the people and the ordinary NY State worker are not getting raises."

Rating Agencies Informed As Cuomo's Budget's Imagined $ 4.3 Billion In Revenue Increases Disappears

2011-07-18T07:27:00.000-04:00

Charles Dickens advises Andrew Cuomo: Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.

     Poor Andrew Cuomo praised Obama's economic policies this month, but Cuomo does not have Obama's ability to print money to accommodate revenue shortfalls.   When Cuomo's budget doesn't get enough revenue, he must borrow or increase taxes and those nasty bond purchasers will demand higher interest rates.

First, The Cuomo Business Friendly Bubble Burst, when NY was ranked 49th out of 50 States as Business Friendly.   While the Cuomo stooge at the NY Economic Development Agency described his own policy as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed." Then, Cuomo's expected tax revenues took another dive into red ink with latest report. "A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the second month in a row as new orders worsened, while core inflation rose at its highest pace in three years."

   This business contraction affects the revenue increases which finance Cuomo's spending in his budget. The Comptroller in his "Report on the State Fiscal Year 2011-2012" says a "structural imbalance" exists because general fund spending growth is still more than double projected revenue growth. Cuomo had balanced his budget with imagined revenue increases and Cuomo used temporary sources for 14.7% of his budget revenue, such as, Federal stimulus money (threatened in present federal debt debate), "voluntary contributions" from NY Power Authority and other authorities (they'll charge you higher rates) and delaying paying NY State Income Tax refunds. Cuomo's unrealized revenue fantasies reported by the Comptroller include:
1. Personal Income tax receipts in 2011-2012 will increase $2.9 billion or 7.9% (but, see decreased employment reported above)
2. User taxes and fees (sales and tobacco taxes)will increase $467 million or 3.3 % (but, see tobacco tax increase will fail link 1 link 2 and workers earning less or unemployed spend less)
3. Business taxes will increase $894 million or 12.3% (but, see above business results)
4. Payroll Tax will increase $63 million or 4.6% (but, rising unemployment including State layoffs decrease payrolls)
The total fantasy budget's revenue increases of $4.3 billion dollars will not materialize. A budget shortfall of $4.3 billion dollars must be borrowed this year.

   When Cuomo borrows this $4.3 billion, will the bond rating agencies downgrade NY debt and force up borrowing costs in the Cuomo budget, or will they understand that Cuomo meant well? What will happen when those other things that Cuomo forgot to fund in his budget need borrowing to fund them, such as:
1. New York Pension Books are Cooked
2 The Cuomo 2011-2012 Budget proposes to "eliminate a $10 billion dollar deficit without raising taxes or borrowing" and then is borrowing $5.6 Billion dollars.
3. Cuomo has a "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."
4. Cuomo's budget used the "Madoff-like" assumption of a 7.5% safe return on pension investments. and continues to allow borrowing to fund contributions.
5. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.
6. Cuomo forgot what happens when New York's bond rate rises and NY's borrowing costs move up from $5.6 Billion $18.8 Billion.

   All of the above ignores the Medicaid fraud by NY State, which Cuomo defended as NY Attorney General, and which, if Congress block grants Medicaid, Cuomo could immediately end. See letters to Congress on this blog. link 1 link 2

    The following letters were sent to the ratings agencies:
Letters by registered mail: CuomoTARP.blogspot.com   July 18, 2011

To: Moody's Investors Service Inc.
101 Federal Street, Suite 1900
Boston, MA 02110

Standard And Poors
55 Water Street
New York, New York 10041

Fitch's
One State Street Plaza
New York, NY 10004

Re: protecting buyers of NY bonds and your potential liability.

Dear Sirs:
    Attached is a copy of the latest 7/18/2011 post on CuomoTarp.blogspot.com.    The Financial Crisis Inquiry Commission established by Congress had reported on page 25: "We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction." You realize your potential liability, if this occurs with NY State Bonds. There will be lots of angry NY State Bond Holders who will look for compensation for your scienter (knowing) neglect and/or malfeasance, if you fail to act appropriately.
         NY Debt per person including local debt for a family of four is about $97,000 (the highest in the USA).    Bob Brinker already recommended seniors leave the high tax States.   You need to protect NY State Bondholders with truthful ratings

Also consider the Letters to Congress on this blog dated July 12, 2011 and May 23, 2011 which show a proven moral hazard and criminality in NY State Government and the likelihood of financial fraud.

Sincerely yours,
CuomoTARP.blogspot.com

Note: all links are available on the CuomoTARP.blogspot.com website where a copy of this letter is posted.
Attached: Blog post dated July 18, 2011

P.S. Tomorrow's 7/19 post will concern more lack of fiscal irresponsibility by NY Government and its committees and the costs thereof which must be borrowed in this fiscal year.

New York State Requires A $2,250 Per Year Household Tax Increase To Cover It's Pension Costs

2011-07-14T08:25:00.000-04:00

The Grim Economic Reaper's toll for public employee pension promises in New York and other states is available in

The Revenue Demands of Public Employee Pension Promises

by Robert Novy-Marx, University of Rochester/NBER

and Joshua D. Rauh, Kellogg School of Management/ NBER
dated June 2011

The following tables are excerpted: (GSP = Gross State Product)

Contributions, Payroll, and Revenues for State and Local Systems
Government Contributions Incl Social Security
                    Total Payroll    Revenues % of GSP   per household

New York      $65.8 Billions        1.2%    $1,738.8
Rhode Island    $2.4    1.3%    $1,557.3
Hawaii               $3.7                  1.1%                    $1,436.4
Virginia             $17.5                 1.0%                    $1,374.0
California        $108.1 1.0%                    $1,368.8
Alaska    $2.3 0.7%                    $1,234.7
Illinois              $29.3                 1.0%                    $1,215.3
New Mexico      $4.7    1.2%    $1,180.6
Nevada             $5.2    0.9%                    $1,147.2
New Jersey     $26.9      0.7%                    $1,078.0

Required Increases for Full Funding by State, No Policy Change
                      Gvt Contributions           Required Contribution Increase
             Current($B) Total Required   Revenue % of GSP   per household
New Jersey $3.6 $11.9 1.7%     $2,475
New York $13.1    $30.0 1.5% $2,250
Oregon       $1.3           $4.4    1.9%         $2,140
Wyoming    $0.2           $0.6    1.2% $2,080
Ohio           $3.1          $12.2 1.9% $2,051
California $19.5         $47.8    1.5%        $1,994
Minnesota   $1.7          $5.6 1.5%    $1,928
Illinois        $6.0         $15.5 1.5%        $1,907

        New York State is the overall winner, when you add the numbers from each table to get the total spending required. And things are worse than they appear because many of the households in New York don't pay taxes, so the $2,250 additional tax required per taxpaying household per year increases. NY Comptroller reports 4.52 million residents out of the total 19.4 million NYS population are Medicaid eligible and thus unable to contribute

Oh, somewhere in our favored land the sun is shining bright;

The band is playing somewhere, and somewhere hearts are light,

And somewhere men are laughing, and somewhere children shout;

But here in New York, the taxpayers will strike out

The Cuomo Business Friendly Bubble Bursts

2011-07-13T08:21:00.001-04:00

New York beats out California
An asylum for the sane would be empty in NY State Government~Paraphrased from George Bernard Shaw

Cuomo had promised to make New York State business friendly. And Cuomo succeeded in beating California for next to last place in the rankings for States for doing business. The ranking included the comment, "California is not unique in pursuing policies that prompt wealth and job creators to expand elsewhere, (New York being a good example)" Andrew Cuomo's success was due to the following:

1. Cuomo's Pension Reform Is Too Little, Too Late And Fails To Solve New York's Huge Pension Debt Problem

or 2. NY Like NJ Forgot To Fund Retiree Health Benefits And NY Adds $56.3 Billion To Its Unfunded Liabilities

or 3. Will Andrew Cuomo Charm The Bond Market For The State With The Highest Debt Per Person?

or 4. Andrew Cuomo's Hope For Increased Tax Revenues Was False And He'll Run Out Of Cash

or 5. Cuomo's Budget Becomes A Joke As At Least $3.6 Billion Dollars Is Deducted From Illusional Tax Revenues As New York Unemployment Climbs In Every New York Metro District

or 6. Was it Bob Brinker's advice in Andrew Cuomo's Business Friendly Puff Pieces Fizzle As Reality And Medicaid Block Grants Close In?

But do not fear, Cuomo has proclaimed he supports the Hope and Change policies at the Federal level that brought 9.2% unemployment.
"Gov. Cuomo today had kind words for President Obama’s economic policies despite news that unemployment is again on the rise... He will now turn his focus on the issue of “jobs, jobs, jobs” for New York....operational initiatives around economic development issues, and creating 'New York Open for Business' campaign."

Meanwhile the Cuomo stooge at the NY Economic Development Agency became that same person who he had earlier described as "anyone proposing nano-scale technology in Syracuse should be taken out to the woodshed."

An asylum for the sane would be empty in NY State Government ~ Paraphrased from George Bernard Shaw

Deal With Debt Limit With $200 Billion A Year In Real Cuts In Medicaid Which Don't Hurt Beneficiaries

2011-07-12T09:38:00.000-04:00

Copy of letter faxed today.
CuomoTARP.blogspot.com July 12, 2011

To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance

Re: Save $200 billion dollars a year in Federal expenditures right now and reduce the need to borrow this money, right now.

Honorable Harry Reid, John A. Boehner and others in Congress:
                   Neither Republicans, nor Democrats need or want to fund Medicaid fraud.    It's time to stop these grandstanding predictions of spending cuts in the future, instead cut $200 billion a year, beginning right now. All the data has been collected. The witnesses and/or Cuomo or Eric Holder are knowledgeable for immediate action this week or next. Eric Holder "maybe" prosecuting, but Andrew Cuomo, as former NY Attorney General defended the crooked NY State employees and knows where and who was taking the fraudulent money.

Here's one example how $1 billion disappeared in one part of NY Medicaid fraud as reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds,the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

           Medicaid block grants would save $200 billion a year, while letting Cuomo deal with the NY State crooked employees already known to him. NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994. As described in prior faxes: "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices  and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

   "The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php


Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

   Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.

Sincerely yours,

CuomoTarp.blogspot.com

cc: others interested in congressional immediate action

attached: June 27, 2011 letter to Congress as seen in blog post.

Save $2 Trillion Dollars In Federal Budget Right Now And Let Eric Holder Fumble Later With NY State Medicaid Fraud

2011-07-05T07:42:00.000-04:00

Copy of letter faxed today.
CuomoTARP.blogspot.com July 5, 2011

To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley, Sen. Finance

Re: Save $2 trillion dollars in Federal Budget right now and let Eric Holder fumble later with NY State Medicaid Fraud. Follow up with links to the criminal investigation for recovering NY State's Institutionalized Medicaid fraud.

Dear Congress:
                    NY State's corrupt stealing of Medicaid funds has gone on for years, since before 1994.     "In the case of NY, the Feds keep auditing NYS for fraud. The frauds keep getting bigger and bigger and more and more secretive. While NYS gets fined time and time again, the people running the fraud from the safety of their administrative offices  and under the protection of the NYS Attorney General who uses taxpayer money to defend these white collar government criminals who were ripping off the [Federal government]."
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

   "The scandal reaches into the upper levels of management for the SUNY Research Foundation and the state Health Department, according to sources briefed on the case. At stake is more than $22 billion in annual matching federal funds for Medicaid. "
http://www.timesunion.com/local/article/Feds-probing-Medicaid-fraud-at-SUNY-firm-557890.php

Instead of waiting for Eric Holder, aka Gidot, to act, block grants would shift criminal prosecution responsibility to NY State, where Andrew Cuomo and the new AG, Scheiderman, can act as prosecutors, instead of defending the criminal conduct. A quick action by Congress on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.
http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

   Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.

Sincerely yours,

CuomoTarp.blogspot.com

cc: others interested in congressional immediate action

attached: June 27, 2011 letter to Congress as seen in blog post below.

Wake Up Time For Time For Congress To Save $200 Billion And End Known NY Fraud

2011-07-01T12:02:00.000-04:00

As a follow up to the post below and because the Senate will be in session next week as per Harry Reid, the following fax is being sent to others in Congress and outside in addition to those named in the prior fax.

Copy of Letter faxed:
CuomoTARP.blogspot.com July 1, 2011

To: Michele Bachmann, Ron Paul, Allen West, Thaddeus McCotter, US Representatives; Rand Paul, David Vitter, Jim DeMint, Senators;
and Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance

Re: Saving $200 billion a year and $2 trillion dollars over ten years, without harming poor beneficiaries and eliminating fraud. Witnesses, documentation and court filings available for quick action next week.

Dear Congress:
Harry Reid has brought the Senate back next week and the budget deficit must be the target for action. A quick action on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.

Follow the links in the June 27, 2011 letter attached below and use contact info for arranging testimony below.

Sincerely yours,

CuomoTarp.blogspot.com

cc: others interested in congressional immediate action

attached: June 27, 2011 letter to Congress as seen in blog post below.

Congress Informed Of $2 Trillion Dollars Budget Savings Without Harming Medicaid Needy While Ending State Fraud

2011-06-27T15:27:00.000-04:00

Copy of Letter faxed:
CuomoTARP.blogspot.com June 27, 2011

To: Harry Reid, Majority Leader; Mitch McConnell, Minority Leader; John A. Boehner, Speaker; Eric Cantor, Majority Leader; Darrell Issa,Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy,Chair Sen. Judiciary; Charles E. Grassley,Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers,Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran,Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi,Sen. Health; Chris Van Hollen, House Budget; Spencer Bachus,House Financial Services; Barney Frank, House Financial Services; Max Baucus,Sen. Finance;Chuck Grassley, Sen. Finance

Re: Saving $2 trillion dollars over ten years or $200 billion a year, without harming poor beneficiaries and eliminating fraud. Witnesses and documentation available for quick action.

Dear Congress:
                    A chance to save $2 trillion dollars over ten years without harming any needy beneficiaries of Medicaid. A quick action on a Medicaid funding change would save federal taxpayers $200 billion a year without affecting services to present beneficiaries and would eliminate massive fraudulent billing of Medicaid. In addition, it would save NY local taxpayers $32 billion dollars spent matching fraudulent NY State Medicaid claims.

        Medicaid Block Grants can be enacted with payments at the same average present rate for all States. In NY State, the major beneficiary of Medicaid fraud is NY State itself. Andrew Cuomo, who was NY Attorney General litigating these frauds, is aware of the fraud perpetrators in NY State.

        Eric Holder, 18 years ago as DOJ Attorney for the District of Columbia in 1994, obtained a refund of $26.97 million dollars from NY State.    But, Holder has been unable to make any progress for the last two years on the massive NY Medicaid fraud. NY State's twenty year spree of stealing from the Medicaid trough can be ended with block grants which will save $200 billion a year in federal expenditures or $2 trillion dollars over ten years. And, a side effect would save DOJ expenditures litigating against NY State. A prodigal NY State could then straighten out its own corruption.    Other States with honest dealings, such as California, will receive increases.

   Witnesses and documentation are available for immediate hearings and action. Below are links to my blog CuomoTarp.blogspot.com where additional information is available, specifically involving NY Medicaid fraud and its costs.

Sincerely yours,

CuomoTarp.blogspot.com

Links to further data:

1. Congress Is Informed Of NY Medicaid Corruption Results in Death And Beatings

Copy of letter sent:
CuomoTARP.blogspot.com    June 10, 2011

http://cuomotarp.blogspot.com/2011/06/congress-is-informed-of-ny-medicaid.html

2. Congress Asked To Seek Special Prosecutor For Multi-Billion Dollar NY Medicaid Fraud By State Employees

Copy of letter sent:
CuomoTARP.blogspot.com May 23, 2011

http://cuomotarp.blogspot.com/2011/05/congress-asked-to-seek-special.html

3. Medicaid Block Grants Would Save NY Taxpayers $32 Billion Dollars Without Affecting Services To Present Beneficiaries

Letter to Congress:
CuomoTARP.blogspot.com BY FAX 5/12/2011

http://cuomotarp.blogspot.com/2011/05/medicaid-block-grants-would-save-ny.html

4. News Reports Of NY Medicaid Excesses And Block Grants Will Sink Cuomo's Budget Into $32 Billion Dollar Default.

"New York spent $2,903 per person on Medicaid in 2010 — a third more than any other state. The U.S. average is $1,364. Nevada spent the least: $666 per person."

http://cuomotarp.blogspot.com/2011/04/news-reports-of-ny-medicaid-excesses.html

5. Three Billion Dollar Medicaid Fraud By New York State In Cuomo Budget Sent To Congress For Oversight And Demand That Eric Holder Be Replaced By Special Prosecutor

Copy of letter sent: CuomoTARP.blogspot.com April 13, 2011

Re: Multi-billion dollar fraud: Special Prosecutor required for the Major Criminal Fraud by NY State officials and others taking billions of dollars a year in federal Medicaid funds. Eric Holder and the NY Offices of the US Attorney have failed to prosecute and obtain refunds. Holder has an 18 year history of covering up for Andrew Cuomo when billions of dollars are missing. Congressional oversight of the Justice Department is needed. Congress must end misappropriations and deduct past fraudulently obtained funds from present appropriations. Block grants would shift policing to the State.

http://cuomotarp.blogspot.com/2011/04/three-billion-dollar-medicaid-fraud-by.html

New York Heads for Default/Bankruptcy Following Greece's and Italy's Path

2011-06-20T09:36:00.001-04:00

     Answer the simple questions and see if NY Debt Default or bankruptcy is inevitable.
First facts: QE 2, the buying of federal debt ends this month and the US Treasury Bond market will lose its largest purchaser and the Chinese are not going to step in.    Link 1
Question 1. When bond buyers disappear, must bond rates be raised?
Question 2. When US bonds rates go up, what happens to NY State Bond rates?
Question 3. Will Congress save $200 billion a year with no effect on beneficiaries by going to Medicaid block grants in September?     link 2

Fact: Neither Greece nor Italy can print money, because they have the euro and NY is not allowed to print money. Question 4. What's the difference between Greece or Italy and NY State when both spend more than they can pay back?   link 3 link 4

Fact: Angela Merkel, German Chancellor, said Germans don't want to pay for Greeks to retire at 51.

Question 6.Will other States want to fund NY's Medicaid excesses used for non-Medicaid purposes.

Fact: NY has the highest of any US State total of $27,097 State and local debt per person or $108,388 for a family of four.

Question 7. Will higher Debt drive out more tax paying NY residents and retirees as recommended by Bob Brinker?
Question 8. What interest rate will be charged NY State with the highest debt per person?
Question 9. Where will Cuomo get the $47 billion dollars to cover NY Medicaid excesses? link 5

The Laws of Gravity or The Laws of Economics in the end are always obeyed. You reap what you sow and the Piper must in the end be paid.
Who'll lend this money, which we can't pay back, Andrew?

Congress Is Informed Of NY Medicaid Corruption Results in Death And Beatings

2011-06-09T19:08:00.000-04:00

Copy of letter sent:
CuomoTARP.blogspot.com    June 10, 2011

To: Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran, Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health.;  Chris Van Hollen, House Budget; Spencer Bachus, House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley Sen. Finance

Re: Follow up and confirmation by NY Times of death, beatings and billing excesses funded with Medicaid which Congress must end with block grants which would shift policing to the State.

Dear Congressmen:
The NY Times has confirmed that New York State has
1. "tolerated physical and psychological abuse, knowingly hired unqualified workers, ignored complaints by whistle-blowers and failed to credibly investigate cases of abuse and neglect, according to a review by The New York." Times of thousands of state records and court documents, along with interviews of current and former employees."
2. "These [NY] institutions spend two and a half times as much money, per resident, as the thousands of smaller group homes that care for far more of the 135,000 developmentally disabled New Yorkers receiving services."
http://www.nytimes.com/2011/06/06/nyregion/boys-death-highlights-crisis-in-homes-for-disabled.html?_r=1

      Most of these abuses were known to then Attorney General Andrew Cuomo and were defended by NY State in court actions. Presently there is federal court action in northern district of NY involving false claims for Medicaid submitted by NY State.using its SUNY Division.

1.SUNY RESEARCH FRAUD http://www.timesunion.com/default/article/Public-school-private-dealings-1403960.php

2. SUNY RESEARCH - also cited for covering up $22 billion medicaid fraud
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

3. This was not SUNY RESEARCH'S First Go-around with Fraud.
http://oig.hhs.gov/oas/reports/region2/29302006.pdf

     While NY State and its present Governor and former Attorney General were well aware of these frauds, he did not end them, nor prosecute. As reported to you earlier and published on this blog, Medicaid block grants would let NY deal with its corruption, rather than profit from the criminal false filings by NY state officials.
http://cuomotarp.blogspot.com/2011/05/medicaid-block-grants-would-save-ny.html

      Medicaid Block Grants would save NY taxpayers $32 billion dollars and federal taxpayers $200 billion without affecting services to present beneficiaries and eliminate massive fraudulent billing of Medicaid. Are Governor Cuomo's rewards to his faithful contributors to be funded with fraudulent Medicaid funds obtained by NY State?
http://www.nydailynews.com/news/politics/2011/06 /05/2011-06-05_andy_giveth_show_govs_top_donors_cash_in_with_plum_appointments.html

     Let Andrew Cuomo clean his own house with his own money and let the federal government save $200 billion in its budget.

                        Sincerely yours,

                   CuomoTarp.blogspot.com

Congress Asked To Seek Special Prosecutor For Multi-Billion Dollar NY Medicaid Fraud By State Employees

2011-05-23T20:39:00.004-04:00

Copy of letter sent:
CuomoTARP.blogspot.com    May 23, 2011

To: Eric Holder, US Attorney General,
Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran, Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health.;  Chris Van Hollen, House Budget; Spencer Bachus, House Financial Services; Barney Frank, House Financial Services; Max Baucus, Sen. Finance; Chuck Grassley Sen. Finance

Re: Multi-billion dollar fraud: Special Prosecutor required for the Major Criminal Fraud by NY State officials and others taking billions of dollars a year in federal Medicaid funds. Eric Holder and the NY Offices of the US Attorney have failed to prosecute and obtain refunds. Holder has an 18 year history of covering up for Andrew Cuomo when billions of dollars are missing. Congressional oversight of the Justice Department is needed.

Re: Congress must end misappropriations and deduct past fraudulently obtained funds from present appropriations. Block grants would shift policing to the State.

Dear Congress and Eric Holder:

There is a severe problem in NY State, which has four Federal Court districts, and a conflict of interest by lawyers working for the US Justice Department who may wish to move into the NY private sector at more pay.   The Medicaid fraud is reported as a scheme to extract federal Medicaid funds for non Medicaid uses by the State of New York. Such a fraud would involve the highest levels of NYS Government and with the knowledge of the NYS Attorney General, who was Andrew Cuomo. The loss of these fraudulently obtained funds would have a severe effect on NYS finances and could lead to default. Eric Holder's Justice Department has not obtained any cash refunds to the federal government for the frauds reported below.

1. The Times Union reported, "A federal grand jury is continuing to examine allegations that state Health Department managers may have conspired with the Research Foundation for the state University of New York to manipulate audits of New York's $22 billion a year Medicaid program. .... The investigation is centered on a federally mandated program that requires states to randomly audit their Medicaid programs to determine the rate of ineligible recipients of Medicaid benefits. ... Several people who formerly worked for the Research Foundation have alleged that their audits were deliberately sanitized so that New York state would not be penalized for excessive error rates that could have led to New York being penalized or not receiving all or part of approximately $22 billion in federal matching funds.
http://www.timesunion.com/local/article/Were-state-audits-faked-598325.php#ixzz1MeoogW5n

2. "Daily rate for Medicaid patients tops $5,000 in nine institutions in NY and was described as a "cash cow for the State." "Introne, Gov. Andrew Cuomo’s liaison, said state officials were working with the U.S. Centers for Medicare and Medicaid Services “to analyze and resolve the matter."
http://www.poughkeepsiejournal.com/article/20110402/NEWS01/110402002/Daily-rate-for-Medicaid-patients-tops-5-000?odyssey=tab%7Cmostpopular%7Cimg%7CFRONTPAGE

3. It was reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

4. $22 billion dollar fraud as NYS Keeps Getting Caught For Committing Fraud, But There Never Seems to Be Any Consequences
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/

5. Was Cuomo MIA With A $1.2 Billion Per Year Fraud? http://cuomotarp.blogspot.com/2010/09/was-cuomo-mia-with-12-billion-per-year.html

6. An additional $400 million dollars in NY Medicaid fraud and Cuomo MIA http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-corruption-allowed-400.html

7. Eric Holder* has known since 1993 of New York State's complicity in defrauding the Federal government since Holder was a US attorney for D.C. and signatory to the "Denoncourt" consent order where New York State paid the U.S. $26.97 Million To settle federal funding fraud.
http://www.justice.gov/opa/pr/Pre_96/December94/725.txt.html

8. Holder was covering up for Cuomo as Deputy Attorney General for the $17 billion and then $59 billion dollars missing at HUD under Cuomo and his refusal to prosecute despite the recommendation of the the Inspector General and also, the Farkas scandal and the GAO reported HUD mortgage flipping frauds.
http://thekomisarscoop.com/2006/08/fees-for-our-friends-the-scandal-that-taints-andrew-cuomo/
http://cuomotarp.blogspot.com/2010/10/andrew-cuomos-predatory-heart-of.html
http://www.villagevoice.com/2006-08-29/news/andrew-cuomo-s-2-million-man/

Eric Holder must appoint a Special Prosecutor because of 1. his continuing conflicts and the conflicts of Justice department attorneys ; 2. his failure to act on this continuing crime for 18 years by NYS involving the highest levels of NY State government; and 3. his long history of failing to prosecute crimes involving Andrew Cuomo. The NY offices of the US Attorneys have local conflicts which require a Special Prosecutor without ties to local interests and political figures.

Solutions: 1. Use Medicaid block grants to shift this corruption directly to NY State and eliminate the over twenty years of fraud by NY State in the Medicaid program.

2. Have Eric Holder explain why he has failed to prosecute and obtain refunds, even with a prior   "Denoncourt consent decree" signed by Holder at Justice Department years ago.

3. I and others are ready to help Congress with testimony and data to end this massive fraud within NYS Medicaid and assist in making sure that the proper refunds are made.

Sincerely yours,

CuomoTARP.blogspot.com

*In 1988, Ronald Reagan appointed Holder to serve as a judge of the Superior Court of the District of Columbia. Holder left the bench in 1993 to become US Attorney for the D.C. by Bill Clinton. The Denoncourt action was brought in D.C.. Holder was the US Attorney for D.C. and oversaw the case from 1993 through the settlement order in 1994. In 1997, Clinton nominated Holder to be the Deputy Attorney General.

P.S. 1. the above links can be accessed directly in the copy of this letter at CuomoTARP.blogspot.com
2. Others have reported these frauds in letters to Congress.
3. The need for Block Grants and a bankruptcy for States proposed law were in earlier letters to Congress and available at these links:
http://cuomotarp.blogspot.com/2011/04/three-billion-dollar-medicaid-fraud-by.html
http://cuomotarp.blogspot.com/2011/05/medicaid-block-grants-would-save-ny.html
http://cuomotarp.blogspot.com/2011/01/bankruptcy-cat-is-out-of-bag-and-some.html

Federal Title 18 Crimes committed by NY State Employees and others:

§1035. False statements relating to health care matters
§1031. Major fraud against the United States
§286. Conspiracy to defraud the Government with respect to claims
§287. False, fictitious or fraudulent claims
§1621. Perjury generally
§1622. Subornation of perjury

Cuomo's Pension Reform Is Too Little, Too Late And Fails To Solve New York's Huge Pension Debt Problem

2011-05-18T08:53:00.000-04:00

Cuomo's acting is full of sound and fury and accomplishes nothing to solve already existing Pension Debts. Can you do that song and dance routine again, Andy? Or is the stale Albany dog and pony act next?

Andrew Cuomo prances in the limelight futility attempting to close the Pension Barn Door after the pension dollars were already legally given away. Cuomo failed to propose and begin in the NY Legislature the passage of a repeal of NY Constitutional Amendment §7. Fixing the future is good, but ignoring the existing pension debt burden is a disaster.

Cuomo's latest pension proposals to "increase the retirement age to 65 ...end early retirement, force employees to pay twice as much toward their pension, and end the “padding” of pensions through overtime pay, sick time and other means" will do nothing for any of the budget catastrophes described in this blog already. All the debts, unfunded liabilities, and other improperly accounted budget items continue to insure default or bankruptcy.
Specifically,
1. NY forgot to fund $53 Billion in retiree health benefits. link 1
2. Block grants for Medicaid will cost NY $32 Billion dollars a year. link 2
3. $3 Billion in NY State Medicaid fraud must be refunded to the Federal government link 3
4. New York has the highest debt per person of US States at a total debt per person of $31,536, which must be added to USA debt per person of $44,805. Now, multiple this total by four for a family of two adults and two children. link 4
5. New York's unfunded pension liability of $143 billion dollars is combined with a Madoff-style assumption that 7.5% will be safely earned on pension investments when the latest return is 1.1%. link 5
6. Cuomo's budget had a fantasy forecast for increased tax revenues. link 6
7. Cuomo forgot he has to pay the federal government back $3.6 billion which was borrowed last year to fund unemployment benefits and is due by November of this year. link 7
8. Cuomo's plan to attract business fizzles because of more taxes due next year for business. link 8
9. The young workers that Cuomo hopes to keep are planning to flee NY's taxes and dying business opportunities. link 9

Bankruptcy is the only way out for New York, because of its Constitutional protection for pensions in NY Constitution § 7. ...membership in any pension or retirement system of the state or of a civil division thereof shall be a contractual relationship, the benefits of which shall not be diminished or impaired.

Proposed federal bankruptcy laws are described in this blog at link 9, link 10, link 11

Your act is over, Andrew, and the handwriting was on the wall in November. link 12

Medicaid Block Grants Would Save NY Taxpayers $32 Billion Dollars Without Affecting Services To Present Beneficiaries

2011-05-11T18:19:00.000-04:00

Letter to Congress:

CuomoTARP.blogspot.com BY FAX    5/12/2011
   To: Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Daniel K. Inouye Chair Sen. Appropriations

Re: Save $200 billion at federal level by block granting Medicaid money to NY and not harm nor eliminate services for poor NY Medicaid recipients, while ending massive over-billing fraud by NY State.

Re: Block granting will save local NY property taxpayers $8 billion, because NY splits its Medicaid expenses 50/50 with the Counties.

Dear Sirs:
      This blog has reported:   "New York spent $2,903 per person on Medicaid in 2010 — a third more than any other state. The U.S. average is $1,364. Nevada spent the least: $666 per person." That means that if Medicaid is block granted to the States at the National average, NY will receive less and must fund its Medicaid corruption out of its budget and tax revenue. New York's Medicaid is capped at $60.4 billion. So calculating, we have $28.38 billion (1,364 divided by 2,903 x $60.4 billion) as block grant eligible total Medicaid expense. Thus, New York would reduce its total Medicaid expenditure by $32 billion ($60.4 billion - $28.4 billion) of fraud and/or false or excessive billing.

   New Yorkers cannot afford to pay its average cost of all government benefits in New York at $9,442 per person. New York has the highest state and local debt of $31,536 which must be added to USA debt per person of $44,805.   For New Yorkers, it's a combined local, State and Federal debt of $76,341 per person. link 1

    The following newspaper reports show many billions of dollars of fraudulent criminal taking of federal funds by NY State.

    1. "Daily rate for Medicaid patients tops $5,000 in nine institutions in NY and was described as a "cash cow for the State." "Introne, Gov. Andrew Cuomo’s liaison, said state officials were working with the U.S. Centers for Medicare and Medicaid Services to analyze and resolve the matter."
http://lonelyconservative.com/2011/04/new-yorks-per-diem-medicaid-rate-four-times-higher-than-other-states/ link 0
    2.It was reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories link 1

   And 3. $22 billion dollar fraud as NYS Keeps Getting Caught For Committing Fraud, But There Never Seems to Be Any Consequences
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/   link 2

     Using #2 above as an example, we determine that NY spends per these Medicaid recipients: $500,000 ($700 million divided by 1,400 people). If instead, these recipients were in a NY nursing home, where the daily rates range from a high of $376 to a low of $253 (link 3), and a full time aide was assigned for two eight hour periods at $30 per hour total cost for $480 a day. The combined cost per recipient would be a maximum of $856 per day or $312,440 a year.   But most recipients would not need so much attention and the Medicaid federal reimbursement rates for NY nursing homes are much lower than the average nursing home rates used.

      Summary for this example: NY bills Medicaid for $1.5 million per these Medicaid recipients for services which could be better supplied at a maximum $312,440 per recipient or at one fifth the cost.

      Worse still for NY residents, NY State uses this excess Medicaid billing to bill its Counties and ultimately their property taxpayers for these fraudulent and excessively expensive services, which do nothing for the Medicaid recipient, but do enrich the State's bloated government.

   Conclusion: Block granting Medicaid to the States would be a giant benefit for NY taxpayers, have no effect on services provided to Medicaid beneficiaries and would substantially reduce Federal expenditures by $16 billion dollars a year for just NY State. A rough estimate could be made by using one half ($8 billion) of the NY share of excess of $16 billion federally paid expenditure and multiplying it by half the number of states (25 states would be over the median Medicaid reimbursement rate). The federal government would save a minimum $200 billion per year or about a minimum 14% of this year's projected deficit ($1.4 trillion) without harming Medicaid recipients.

    And collaterally, you would save the NY property taxpayers $8 billion dollars a year, which is approximately 45 percent of property tax levy (link 4)     While at the same time, benefiting 25 States, including California, which would be rewarded for their honest services

                                     Sincerely yours,

                                    CuomoTARP.blogspot.com

CC: others

link 0
http://lonelyconservative.com/2011/04/new-yorks-per-diem-medicaid-rate-four-times-higher-than-other-states/
link 1
http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories
link 2
http://governmentrico.wordpress.com/2010/09/20/nys-22-billion-dollar-medicaid-fraud-nys-health-department-and-research-foundation-for-state-university-of-new-york-suny/%20
link 3
http://www.health.state.ny.us/facilities/nursing/estimated_average_rates.htm
link 4
http://uticadailynews.com/election_releases/17474-Hawkins-Outlines-Plan-Reduce-Local-Property-Taxes-for-State-Takeover-Medicaid-More-State-Funding-for-Schools-Opposes-Property-Tax-Cap.html

NY Like NJ Forgot To Fund Retiree Health Benefits And NY Adds $56.3 Billion To Its Unfunded Liabilities

2011-05-09T08:01:00.000-04:00

   The Ithaca Journal falsely reports,"New York's [pension]plans aren't underfunded." They must be comparing with the pending NJ disaster of a $120 billion dollar pension shortfall. But NY pensions assume a 7.5% return on pension assets when they only earned 1.1%. NY's unfunded pension debt is estimated at $143 billion dollars.   When NJ defaults, NY would soon follow.

     But what about funding retiree health benefits liability. Pew reports, "States had only about $31 billion, or 5 percent, saved toward their obligations for retiree health care benefits."    NY had $56.3 billion dollars in retiree health benefits unfunded and according to Pew had 0.0% in its retiree health benefits funding account.   While NJ had $66.7 billion in retiree health benefits, also funded at 0.0%.

     New Yorkers now have another $56.3 billion dollars divided by 19.4 million NY population = $2,902 debt per person to add to the already calculated $24,195 State and local debt per person (link). We have a new higher total of $27,097 State and local debt per person or $108,388 for a family of four.

      Is the NY pot blacker than the NJ kettle?   Will investors want NY bonds or NJ bonds? Neither NJ or NY can't withdraw from the USA like Greece and issue their own worthless currency to pay off its bondholders.

But in Albany, the thinking is, "What debt crisis? Our pensions are 100% funded, aren't they? We can fund retiree health benefits next year, right? Andrew Cuomo has brought Hope and Change and balanced the budget, right?" Although, Andrew Cuomo had promised to throttle lobbyists in NY, "Spending on lobbying in New York tops $200 million in 2010."   And lobbyists are controlling his committees.

Meanwhile out in the cruel dark financial world outside Albany, China is reducing its holding of US debt. link to China and NY debt    link to NY bondholders lose big in NY bankruptcy/default

And now the Chinese Debt Master holds the ball, and now he lets it go,

And now the air is shattered by the force of Cuomo's blow.

Oh, somewhere in our favored land the sun is shining bright;

The band is playing somewhere, and somewhere hearts are light,

And somewhere men are laughing, and somewhere children shout;

But there is default in Albany, the mighty Cuomo has struck out.

link to poem

News Reports Of NY Medicaid Excesses And Block Grants Will Sink Cuomo's Budget Into $32 Billion Dollar Default.

2011-04-26T10:07:00.001-04:00

       The media is finally reporting that the NY Medicaid cat jumped out of the bag. "New York spent $2,903 per person on Medicaid in 2010 — a third more than any other state. The U.S. average is $1,364. Nevada spent the least: $666 per person."    That means that if Medicaid is block granted to the States at the National average, NY will receive less and must fund the excess out of its budget and tax revenue. New York's Medicaid is capped at $60.4 billion.
So 1,364 divided by 2,903 x $60.4 billion = $28.38 billion. or, New York must pay for an additional $32 billion ($60.4 billion - $28.4 billion)

link to Medicaid calculations

       Meanwhile, the Financial Barbarians of the World are at the gates of US debt financing and the prior trickle down effect will become a tsunami effect on States like New York which has the highest state and local debt of of $31,536 compared to USA debt per person of $44,805.    link
   New Yorkers cannot afford to pay the average cost of all government benefits in New York at $9,442 per person and lenders will soon all figure it out.

Here are the reports on the Financial Barbarians landing on our shores.
End of America as we know it
New York is the Greece among the US States and bond interest will skyrocket
China will (is) selling its US debt and this will force rise in US interest rates

The handwriting on the wall is coming true.
Cuomo and NY Bondholders See The Writing On The Wall

Rating Agencies Need To Revalue New York Bonds To Avoid Liability

2011-04-19T14:04:00.000-04:00

Gold hits $1,500. A Creditor: One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions. ~ from Ambrose Bierce's Dictionary

Letter by registered mail: CuomoTARP.blogspot.com
April 19, 2011

To: Moody's Investors Service
175 Federal Street, Suite 501, Boston, MA 02110
Standard & Poors
55 Water Street New York, New York 10041
Fitch's
One State Street Plaza, New York, NY 10004

Re: protecting buyers of NY bonds and your potential liability.

Dear Sirs:
         You have been sent a copy of Three Billion Dollar Medicaid Fraud By New York State dated April 13, 2011.    The Financial Crisis Inquiry Commission established by Congress reported on page 25: "We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction."   You realize your potential liability, if this occurs with NY State Bonds.

     Standard+Poor’s lowered its outlook for U.S. debt to “negative” from “stable,” and woke up Washington. NY debt must follow. Comptroller DiNapoli's cash report for end of March reported, "All Funds tax collections were $926.3 million below initial projections included in the SFY 2010-11 Enacted State Budget, but slightly above projections made March 3."    This is double talk, which means he knew on March 3, 2011 that the revenue predicted in our budget wasn't coming, so we revised our figures lower, so he could report we received more than expected.

   The rating agencies must properly rate NY bonds based on the above mentioned letter and
   1. Cuomo's budget expects more money in cigarette taxes, but that is dashed by expected crime wave of smuggled cigarettes. link 1 link 2
   2. The World new economic reality is reported in Andrew Cuomo; A State Bankruptcy And NY Bond Devaluation where factors outside of NY control the bond market for NY bonds.
   3. New York Pension Books are Cooked
   4. New York Bonds Are Down Rated Based On Cuomo's Budget because
a. The Cuomo 2011-2012 Budget proposes to "eliminate a $10 billion dollar deficit without raising taxes or borrowing" and then is borrowing $5.6 Billion dollars.
b. Cuomo has a "funds shift [that] would result in the use of state bond proceeds for payment of a portion of debt service on MTA revenue bonds."
c. Cuomo's budget used the "Madoff-like" assumption of a 7.5% safe return on pension investments. and continues to allow borrowing to fund contributions.
d. Cuomo failed to budget in the required repaying of the federal government for Medicaid frauds. This is minimally estimated at $6.4 billion.
e. Cuomo forgot what happens when New York's bond rate rises and NY's borrowing costs will move up from $5.6 Billion $18.8 Billion.
e. Cuomo forgot about repaying the Unemployment Insurance: State Trust Fund Loans of $3.1 billion.   Cuomo must pass this on in higher unemployment contributions by New York Employers and watch the Cuomo Business Friendly New York fizzle.
f. Fitch Downgrade Added $2.99 Billion in Deficit To Andrew Cuomo's Budget Farce
g.New York has the highest State+local debt per person in USA at a total debt per person of $31,536 compared to USA debt per person of $44,805.
h. Andrew Cuomo's Hope For Increased Tax Revenues Was False because he hasn't budgeted the State's payment of the entire unemployment and extended unemployment benefits of laid off workers, such as the 500 court employees which are just a beginning of NY State layoffs. These unemployed will reduce Personal Income Tax receipts,User Taxes and Fees, and Business Taxes (larger unemployment reduces earnings from businesses)
i. New Yorkers paid $48 billion in property taxes in 2010 with the highest local property taxes in USA, 74% above national average.

       Bob Brinker recommends seniors leave the high tax States.   New York has the highest taxes. Andrew Cuomo's Business Friendly Puff Pieces will Fizzle As Reality And Medicaid Block Grants Close In.
Who'll be left to repay the bonds? Please do your duty and protect buyers of New York Bonds with up-to-date ratings.

                                              Sincerely yours,

                                              CuomoTARP.blogspot.com

Note: all links are available on the CuomoTARP.blogspot.com website where a copy of this letter is posted.
Attached: Three Billion Dollar Medicaid Fraud By New York State In Cuomo Budget Sent To Congress For Oversight dated April 13, 2011

Three Billion Dollar Medicaid Fraud By New York State In Cuomo Budget Sent To Congress For Oversight And Demand That Eric Holder Be Replaced By Special Prosecutor

2011-04-13T17:07:00.000-04:00

Copy of letter sent: CuomoTARP.blogspot.com April 13, 2011

To: Eric Holder, US Attorney General,
Darrell Issa, Chair House Oversight and Government Reform; Lamar Smith, Chair House Judiciary; Patrick J. Leahy, Chair Sen. Judiciary; Charles E. Grassley, Sen. Judiciary; Paul Ryan, Chair House Budget; Harold Rogers, Chair House Appropriations; Kent Conrad, Chair Sen. Budget; Jeff Sessions, Sen. Budget; Daniel K. Inouye,Chair Sen. Appropriations; Thad Cochran, Sen. Appropriations; Tom Harkin, Chair Sen. Health; Michael B. Enzi, Sen. Health.;    and Andrew Cuomo, NY Governor.

Re: Multi-billion dollar fraud: Special Prosecutor required for the Major Criminal Fraud by NY State officials and others taking billions of dollars a year in federal Medicaid funds.   Eric Holder and the NY Offices of the US Attorney have failed to prosecute and obtain refunds. Holder has an 18 year history of covering up for Andrew Cuomo when billions of dollars are missing.    Congressional oversight of the Justice Department is needed. Congress must end misappropriations and deduct past fraudulently obtained funds from present appropriations. Block grants would shift policing to the State.   Andrew Cuomo must adjust his 2011-2012 budget for that refund and remove such anticipated funds from 2011-2012 budget ($3 billion dollars added to budget deficit)

Dear Federal Officials and Governor Cuomo:

    The following newspaper reports show massive, in excess of $1 billion dollars, fraudulent criminal taking of federal funds by NY State

    1. "Daily rate for Medicaid patients tops $5,000 in nine institutions in NY and was described as a "cash cow for the State." "Introne, Gov. Andrew Cuomo’s liaison, said state officials were working with the U.S. Centers for Medicare and Medicaid Services “to analyze and resolve the matter."
http://www.poughkeepsiejournal.com/article/20110402/NEWS01/110402002/Daily-rate-for-Medicaid-patients-tops-5-000?odyssey=tab%7Cmostpopular%7Cimg%7CFRONTPAGE

    2. It was reported in Wall Street Journal that, "The state spends $700 million a year to house about 1,400 disabled people in the facilities. But it bills Medicaid more than three times that amount. By taking advantage of federal matching funds, the state pockets approximately $1 billion extra every year—and uses it to subsidize other areas of the budget."

http://online.wsj.com/article/SB10001424052748704013604576247300936116610.html?mod=WSJ_NY_LEFTTopStories

    Eric Holder must appoint a Special Prosecutor because of 1. his continuing conflicts; 2. his failure to act on this continuing crime for 18 years involving the highest levels of NY State government; and 3. his long history of failing to prosecute crimes involving Andrew Cuomo. The NY offices of the US Attorneys have local conflicts which require a Special Prosecutor without ties to local interests and political figures.

       Darrell Issa, Lamar Smith, Paul Ryan, Harold Rogers and their committees in the House and the Senators above named and their committees are asked to look into these yearly thefts and frauds of more than a billion dollars a year. Medicaid block grants would shift this corruption directly to NY State and eliminate the over twenty years of fraud by NY State in the Medicaid program. Why was Eric Holder unable to prosecute and obtain refunds, even with a prior "Denoncourt consent decree" signed by Holder at Justice Department years ago?

   Andrew Cuomo must make a budget deduction of $3 billion dollars for these frauds, as $3 billion dollars less Medicaid funds will be received by NY State and make contingencies for the larger potential $22 billion cost.

                       Sincerely yours,

            CuomoTARP.blogspot.com

*In 1988, Ronald Reagan appointed Holder to serve as a judge of the Superior Court of the District of Columbia. Holder left the bench in 1993 to become US Attorney for the D.C. by Bill Clinton. The Denoncourt action was brought in D.C.. Holder was the US Attorney for D.C. and oversaw the case from 1993 through the settlement order in 1994. In 1997, Clinton nominated Holder to be the Deputy Attorney General.
cc: others, credit rating agencies
P.S. the above links can be accessed directly in the copy of this letter at CuomoTARP.blogspot.com

Federal Title 18 Crimes committed by NY State Employees and others:

§1035. False statements relating to health care matters
Whoever, in any matter involving a health care benefit program, knowingly and willfully— (1)falsifies, conceals, or covers up by any trick, scheme, or device a material fact; or makes any materially false, fictitious, or fraudulent statements or representations, or makes or uses any materially false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry, in connection with the delivery of or payment for health care benefits, items, or services, shall be fined under this title or imprisoned not more than 5 years, or both.

§1031. Major fraud against the United States
Whoever knowingly executes, or attempts to execute, any scheme or artifice with the intent— to defraud the United States; or to obtain money or property by means of false or fraudulent pretenses, representations, or promises, in any grant, contract, subcontract, subsidy, loan, guarantee, insurance, or other form of Federal assistance, ..., if the value of such grant, contract, subcontract,subsidy,loan, guarantee,insurance,or other form of Federal assistance, or any constituent part thereof, is $1,000,000 or more shall, subject to the applicability of subsection (c) of this section, be fined not more than $1,000,000, or imprisoned not more than 10 years, or both.

§286. Conspiracy to defraud the Government with respect to claims

Whoever enters into any agreement, combination, or conspiracy to defraud the United States, or any department or agency thereof, by obtaining or aiding to obtain the payment or allowance of any false, fictitious or fraudulent claim, shall be fined under this title or imprisoned not more than ten years, or both.

§287. False, fictitious or fraudulent claims
Whoever makes or presents to any person or officer in the civil, military, or naval service of the United States, or to any department or agency thereof, any claim upon or against the United States, or any department or agency thereof, knowing such claim to be false, fictitious, or fraudulent, shall be imprisoned not more than five years and shall be subject to a fine in the amount provided in this title.

§1621. Perjury generally
who having taken an oath before a competent tribunal, officer, or person, in any case in which a law of the United States authorizes an oath to be administered, that he will testify, declare, depose, or certify truly, or that any written testimony, declaration, deposition, or certificate by him subscribed, is true, willfully and contrary to such oath states or subscribes any material matter which he does not believe to be true; or in any declaration, certificate, verification, or statement under penalty of perjury as permitted under section of title 28, United States Code, willfully subscribes as true any material matter which he does not believe to be true; is guilty of perjury and shall, except as otherwise expressly provided by law, be fined under this title or imprisoned not more than five years, or both.

§1622. Subornation of perjury
Whoever procures another to commit any perjury is guilty of subornation of perjury, and shall be fined under this title or imprisoned not more than five years, or both

Will Andrew Cuomo Charm The Bond Market For The State With The Highest Debt Per Person?

2011-04-11T08:30:00.000-04:00

The economic grim reaper has his eyes on New York as the most indebted per person State.

Did you think the debt problem at the federal level was bad? New York has the highest debt per person of US States at a total debt per person of $31,536 compared to USA debt per person of $44,805. Meanwhile, the Chinese and foreign barbarians are closing in on US bonds and the underlying State bonds, because of federal and state budget excesses. Low bond interest rates or selling a bond will be fond memories, because of excessive debt per person.

These are the reports from outside:

Think US Debt is a problem; look at the States
How NY's Madoff like assumption of 7.5% safe return on investments will creates a giant deficit.
US follows the path of Greece and Portugal
US dollar becoming toxic
US debt increases despite budget agreement.
Inflation to return
Gas prices inflate

Will Cuomo's charm help? Buy this bond at the old interest rate and a framed iconic picture of Andrew Cuomo with an aura and the words "More Than Just Hope" will be provided for personal devotional use.

Pension Debts And Warren Buffet Sink New York's Budget Into Huge Debt

2011-04-08T11:54:00.000-04:00

The chickens come home to roost

New York's "Madoff-like" promised 7.5% safe return on pension investments chickens are headed home to roost. Warren Buffet says 6.0% would be a better rate. It is reported as "The State Pension Time Bomb" where, "Poor accounting rules and flagrant irresponsibility have sped up the states’ day of reckoning." This blog previously in November 2010 reported: link

      Madoff had promised safe returns of 10% before the economic recession began. The SEC warns in its Ponzi Schemes – Frequently Asked Questions that Ponzi schemes share common characteristics:
          High investment returns with little or no risk
          Overly consistent returns.
Comptroller Di Napoli has reduced his hope to earn 8% percent a year to 7.5%. Except for Madoff, who guarantees a 7.5 percent safe rate of return? Or 7 percent? Or 6 percent? No junk bonds allowed.   NY's real rate of return was less than 4% for ten years.
Even worse, NY's return for past 5 years was 01.1%.   Link.

A report in the August issue of Governing, called New York State, the nationwide pension leader with Pension liability: $141 billion.    The NY Times, agrees and had "How to Cheat a Retirement Fund", an "approach that assumes, as economists generally do, that even corporate accounting standards in this area are too lenient, public pension underfunding is about $3.5 trillion, or one-quarter of gross domestic product."

"Private pension plans must discount their liabilities based on a market rate—typically, a corporate or U.S. government bond rate—which is often much lower than the plans’ projected returns."
*Return US Treasury: 10-MONTH NOTE 10-15-2010 2.475%
There appears to be a large difference between 2.475% and 7.5% and DiNapoli's assumed drop from 8% to 7.5%.

Bottom line: New York's balance sheet is tipped by an unfunded pension liability of up to $143 billion dollars. Already, the New York Debt per person including local debt is $24,195. (For a family of four that is about $97,000.)
Now add another $143 Billion divided by 19.4 million (NY Population) to add another $ 7,341 to that $24,195.

NY State and local debt per person $24,195
NY unfunded pension debt per person $7,341

NY total debt per person $31,536

USA debt per person $44,805 (Dec 2010)
Who would lend money to such a debtor?

Cuomo And Chief Judge Lippman Dance Around Phony Budget Numbers On The Albany Titanic Barge

2011-04-06T11:55:00.001-04:00

"The worst enemies of the republic are the demagogue and the corruptionist." ~ T. Roosevelt

      The Albany Follies Show continues:
   Cuomo struts out looking tough by forcing a 7.5% decrease on Courts' budget.   Chief Judge Lippman appears and releases a video, where “The consequences will be felt heavily on the public as well as on every other part of our state that depends on and is affected by the courts,” Lippman said.    The first scene's script had Lippmann wanting only a 3.7% decrease and Cuomo wanting a 10% decrease and 7.5% compromise resulted. (Applaud, please)

     But, the final scene has the surprise ending when,
     1. Lippman expects a Commission to give raises to the 1,300 Judges, with pay for Supreme Court Judges rising from $136,700 to more than $179,000 or 31% increase or $48 million dollars in judicial salaries to added to Lippman's budget.
.   2. The Judges are also suing for $780 million in back pay to be added to Lippman's budget.

   So the revised real Court budget arithmetic is: $2.7 billion this year; minus -$170 million by Cuomo; plus +$48 million in judicial salary increases; plus +$780 billion in back pay; or court budget increases by +$658 million dollars or a 25% increase.

Final scene's tally: Lippman wins with +25%

Taxpayers out an additional $658 million dollars

Cuomo's exit speech says "don't blame me."

P.S. Why did Cuomo drop the ball on Lippman? Andrew Cuomo had promised to clean out corruption in Albany and that is impossible if the New York Courts are run by a Crook as Chief Judge. See Chief Judge Lippman must step aside pending FBI probe.
Will Cuomo drop corruption ball link

And all of this is will be overshadowed by the $46 Billion New York State budget deficit disaster looming from the 2011-2012 Federal budget, "One of the new health-care reforms proposed by the GOP budget is converting the federal share of Medicaid—the federal-state program that provides health insurance to low-income people—into block grants to state governments."

Latest: Debt on Track to Hit 800 Percent of GDP; 'CBO Can't Conceive of Anyway' Economy Can Continue

Federal Medicaid Block Grants Will Destroy Cuomo's Budget By $47 Billion Dollars

2011-04-04T12:09:00.000-04:00

         The party's over.

    At least $46.8 billion dollars will be added to New York's Medicaid expenditures, when Congress in the next budget year beginning in October changes to a block grant for Medicaid as proposed in the next federal budget, and California will support block grants for Medicaid.

Last year's New York State's share of Medicaid expenditures was $13.8 Billion and the cap on next year's expenditure will be $15.1 Billion (+9.4%), which is matched by an equal contribution of $15.1 billion by NY Counties.

Here are the Medicaid comparisons by State.
Medicaid Cost Per Person Served, 1998
(Red States less than half New York's cost)
New York ~ $8,961
California $2,386
Washington $2,563
Oregon $3,652
Virginia $3,740
Florida $3,607
Texas $4,419
Illinois $4,435
Delaware $4,440
Michigan $4,494
Ohio $5,346
Massachusetts $6,870
Wisconsin $5,457
Pennsylvania $5,808
New Jersey $6,856
Rhode Island $6,603

       If the federal Medicaid block grant rate is at the Texas rate per recipient (Texas $4,419), New York's Medicaid total Federal Reimbursement (State +County) will be reduced ($4,419 divided by $9,861 x $30.2 billion) to $13.6 Billion. But, New York's total predicted Medicaid expenditure (Federal+State+County) cap was $60.4 billion, or New York needs to find an additional ($60.4-$13.6) $46.8 billion dollars. And New York will find no sympathy or support from California for replacement with Medicaid block grants, as California will gain tremendously due to California's $2,386 lower rate.

Now add that $46.8 billion to all the delusional revenue predictions in Cuomo's budget. Will that additional $2,412 per person ($46.8 billion divided by NY population of 19.4 million) or $9,648 for a family of four be funded with new taxes or added to the New York's Debt per person including local debt of $24,195? Where will the Counties get their increased share? And this will be repeatedly added in future years.

Oh, somewhere in our favored land the sun is shining bright;

The band is playing somewhere, and somewhere hearts are light,

And somewhere men are laughing, and somewhere children shout;

But there is default in Albany — mighty Cuomo has struck out
link to poem

Cuomo Celebrates Before His Budget Revenue Forecasts Become Fantasies

2011-04-01T12:16:00.001-04:00

Strike up the Band, Cuomo is now Captain of the New York's Titanic.

There is joy in the Albany Swamp as Andrew Cuomo Kisses And Makes Up With The Albany Swamp's Legislature Vermin, lobbyists, large contributors and Reprobate Politicians, and passes his budget

TAXPAYERS WATCH OUT!

Don't trust the alligators in the Albany swamp

Which one of them checked the revenue predictions in the Cuomo budget? Inflation has appeared and expected employment increases are unlikely. Which politician thinks the voters will be fooled when local taxes rise and judges get a pay raise?

Cuomo Budget's Hope had expected increased revenue from real estate transfer tax but apartment prices are falling.

Has Cuomo heard of the Domino effect where problems in Greece had spread to many other EU Countries. If California, or Illinois goes under, will New York with the highest debt per person in the US follow?

Sheldon Silver OutFoxes Cuomo And Sticks Cuomo With The Future Blame For Revenue Shortfalls And Default/Bankruptcy

2011-03-31T08:27:00.001-04:00

New York's budget is a fool's delight.

   The Cuomo Budget process and its Committees and teams were all a big farce, because Cuomo operatives prepared the outcomes and the committees were left with a rubber stamp. "Add Common Cause to the list of organizations unhappy with the about-to-be-completed 2011-12 budget. Rather than the cuts, they are upset about the level of secrecy involved in crafting the spending plan, which appears to be a replay of the time-tested “three men in a (closed door) room” method.
      "Localities were quick to knock the first report ... from Mandate Relief Redesign Team, saying it falls short of the reforms needed. ...Gov. Andrew Cuomo ... is seeking to cap the growth in property taxes to 2 percent a year. Governments and schools said they would be hard-pressed to abide by the cap without having some state requirements removed."   "What irked some on the 23-member panel was that while they had discussions with Cuomo's staff about the final version of the report, they only saw it minutes before it was released publicly." Suffolk County's Steve Levy said Cuomo's team report was 78 pages of nothing.

        This was a temporary victory for Cuomo, but disaster is ahead, because the revenue side of the budget is a farce.   "The new governor holds the commanding heights,” said Robert B. Ward, deputy director of the Rockefeller Institute, a research center. “The role for the Legislature often is to wait out a governor — and certainly the speaker has proven he’s a master of that."    Was Assembly Speaker Sheldon a sly fox who knew Cuomo now had responsibility for the budget and the phony revenue predictions? "Mr. Silver [had]explained, it would be the widely reviled Legislature — not the popular governor — that would be blamed [if a budget wasn't passed]."   Didn't Silver responsibly want more taxes?

     Local schools are announcing layoffs in response to budget cuts. A sample of schools follow.
Beekmantown School layoffs
Saranac Central School District has no reserves and layoffs needed
Ausable Central School district has low reserves and layoffs will be needed
Cohoes City school district proposes layoffs
       And these unemployed workers won't pay State income taxes (reduces Income Tax revenues) and also drains State coffers (unbudgeted expenditures for benefits), because NY State can't borrow its share of unemployment expenses from the federal government as it did in 2010. Worse still many local districts have to layoff more workers because they don't save the entire cost of wages paid, because many must still pay the full cost of unemployment benefits, because they use the benefit reimbursement plan instead of making regular unemployment contributions (in other words, they paid nothing until a worker is laid off and then they pay the full benefits)
"The Benefit Reimbursement program lets employers reimburse the Unemployment Insurance Fund for benefits paid to their former employees in place of paying on a tax rated basis. The following groups that are tax exempt under Section 501 (c) (3) of the Internal Revenue Code qualify for this option:    Nonprofit organizations organized and run only for: religious, charitable, scientific, literary or educational purposes and Government entities."
This same unemployment benefit (unbudgeted expenditure) payment will affect any New York State layoffs Cuomo plans, because the promised savings will have to be reduced by the full cost of all unemployment benefits paid.

   And NY Counties will follow with more layoffs because of Cuomo's pass down of a 9.4% increase in Medicaid County expense which is the largest expenditure for Counties and the failure of his Mandate Relief Team. Things get worse because a Pension Tsunami is going to hit California and New York. New York State has an absurd assumption that it earns 7.5% on its pension funds when the real rate was 1.1% for the past five years.     This will effect New York's credit rating and lending rates.

Meanwhile, as inflation threatens and gas and fuel prices rise 100%, will Cuomo get more money by borrowing when New York is all ready the most indebted per person with $97,000 for a family of four?

The US Treasury can run out of cash, as can a State.

The Clever Fox Award goes to Sheldon Silver and the booby prize to?

New York's Budget Is Now Cuomo's Budget And Default His Responsibility

2011-03-29T09:10:00.000-04:00

     Assembly Speaker Sheldon Silver and Senate Majority Leader Dean Skelos laugh and smile as they pass Cuomo's budget. Now, Andrew Cuomo owns the New York State budget. He can't blame the legislators for passing his budget. So, who will Cuomo blame when the revenue fails to come in and the massive borrowing begins?

   Now, there is Joy in Albany as Andrew Cuomo passes his budget and Cuomo comes to bat. But, all the flaws reported in this blog in Cuomo's Executive budget are still there. Most importantly, New York will run out of cash because of
1. fantasy revenue predictions.
2. $3.6 billion in required spending is missing from the budget .
3. Cuomo's hidden taxes on business will discourage new business in New York.
4. Cuomo has ignored the pending suit to increase judges pay and its additonal cost to the State.
5. Counties and Cities will have to raise taxes to pay their 9.4% increase in Medicaid costs which is the largest expense in their budgets?

But, Hope as Cuomo comes to bat:

Then from 5 million throats and more there rose a lusty yell;

It rumbled through the Hudson valley, it rattled in the Albany dell;

It knocked upon the Adirondack mountains and recoiled throughout the State,

For Cuomo, mighty Cuomo, was advancing with his budget's plate.

There was ease in Cuomo's manner as he pranced into his place;

There was pride in Cuomo's bearing and a smile on Cuomo's face.

And when, responding to the cheers, he lightly doffed his hat,

No stranger in the crowd could doubt 'twas Cuomo at the bat.

Ten million eyes were on him as he rubbed his hands in Albany's dirt;

Five million tongues applauded when he wiped them on his shirt.

Then while the writhing tort lawyer ground the ball into his hip,

Defiance gleamed in Cuomo's eye, a sneer curled Cuomo's lip.

And now the cap on medical malpractice sphere came hurtling through the air,

And Cuomo stood a-watching it in haughty grandeur there.

Close by the sturdy batsman the malpractice cap unheeded sped-

"That ain't my style," said Cuomo. "Strike one," the doctors said.

From the crowds, black with people, there went up a muffled roar,

Like the beating of the storm-waves upon Long Island's shore.

"Kill them! Kill the lawyers!" shouted someone in the band;

And it's likely they'd a-killed them had not Cuomo raised his hand.

With a smile of Christian charity great Cuomo's visage shone;

He stilled the rising tumult; he bade the budget farce go on;

He signaled to the mandate relief pitcher, and the mandate relief spheroid flew;

But Cuomo still ignored it, and Steve Levy said, "Strike two."

"Fraud!" cried the maddened millions, and the echos answered fraud;

But one scornful look from Cuomo and the People were awed.

They saw his face grow stern and cold, they saw his muscles strain,

And they hoped that Cuomo wouldn't let a ball go by again.

The sneer is gone from Cuomo's lip, his teeth are clenched in hate;

He pounds with cruel violence his silver spoon upon his plate.

And now the Chinese Debt Master holds the ball, and now he lets it go,

And now the air is shattered by the force of Cuomo's blow.

Oh, somewhere in our favored land the sun is shining bright;

The band is playing somewhere, and somewhere hearts are light,

And somewhere men are laughing, and somewhere children shout;

But there is default in Albany — mighty Cuomo has struck out.

Would you buy NY Bonds knowing?

New York State Debt per person including local debt is $24,195. For a family of four that is about $97,000. That is the highest in the USA. And surprise, Cuomo's budget revenue predictions were a farce.