Eight years ago, Tom Suozzi took office and promised to fix Nassau's finances. Call it another broken promise. NIFA found that Suozzi's administration has relied with increasing frequency on one shot revenue gimmicks. When that proved insufficient, Suozzi simply dipped into reserve funds and played around with the due dates on debt service payments.
I don't need to tell you what happens when you do that kind stuff when you balance your checkbook. In fact, its one of the reasons that California is nearly bankrupt. Nassau County cannot afford, for its citizen's sake, to play such games.
As if that weren't bad enough, Suozzi has resorted to even more fiscal gimmickry. He's booked as revenue programs that the legislature, controlled by Democrats subservient to him, have not approved. Some of those same programs require approval by Albany. These days, Albany is controlled by City politicians who are very unfriendly to suburbs. Suozzi, who's got his eye on all of their jobs, is not someone that they are going to be inclined to help much.
NIFA has cited Suozzi for failing to generate new revenue. Instead, he's simply relied on ever high taxes on property and sales. Check your grocery bills. He's not exactly heading down a sustainable path. He's also failed to save any money, but has
Where is the County Comptroller when we need him? Or better yet, where is a competent and qualfied County Executive who is going to devote his entire schedule and all of his energy to saving Nassau?
This is only in the introduction. Check back tomorrow for more.
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