Don’t know how we missed this yesterday:
Facing a huge budget deficit when he took office in January, Nassau County Executive Edward P. Mangano did not impose a hiring freeze. He did not stop borrowing to subsidize some of the richest school districts in the country. He did not eliminate the Police Department’s beloved mounted unit.
Instead, Mr. Mangano, a Republican who won one of the first upsets of the Tea Party era, did what he had promised: He cut taxes, adding $40 million to the county’s deficit, which has since reached nearly $350 million.
Now, with its bonds suddenly downgraded and a state oversight agency preparing to seize its checkbook and credit cards, Nassau is on the verge of a full-fledged fiscal crisis.
New York Republicans think high taxes are choking the state to death, yet they are committed to delivering a high level of government services. Once they get into office, they usually find a bunch of one-offs (sale/leasebacks, Medicaid reimbursement accounting tricks, etc.) to avoid raising taxes while maintaining services for the white suburban voter. It will be fun to watch what happens when those voters experience the consequences of electing a true believer who can’t be bothered to fuck the books.