Andrew Cuomo on Budget & Economy

Democratic Governor


COVID: Washington passed the buck without passing the bucks

The federal government has failed to realize that this is a national crisis. This is not a state crisis. They delegated responsibility for COVID to the governors and then failed to provide the resources. Washington, as they say, passed the buck without passing the bucks. Again in December, Congress failed this nation when they failed to pass state and local financing during their last legislative session. It is a war and like every war before, it must be financed by Washington.
Source: 2021 State of the State Address to the New York legislature , Jan 11, 2021

Many building projects; all on budget

We're building more renewable energy projects than any state in the United States of America. We're doing the largest development of offshore wind in the western hemisphere off Long Island right now. We did a new Rochester Airport, a new Syracuse Airport, a new Albany Airport--all on time and all on budget. And we balanced budgets all in the middle of it. Everyone in this room pays a lower tax rate today than the day I was elected.

You go to build an airport, you make people uncomfortable during the process, maybe you're going to be over budget, maybe you're going to run into a problem. It's risky, politicians avoid risk. It's expensive and I believe it actually makes you money long term and costs you money not to do, but short-term it's expensive. I really do believe you don't have an alternative. If we don't do these changes and grow, our children inherit a different New York than we inherited.

Source: 2020 New York State of the State address , Jan 8, 2020

I'm not in business of papering over problems with money

I believe we have the most active state government in modern history. And we're spending less money than other state governments. How can it be? How can you be spending less and doing more? Because you can scrutinize the process and be more efficient and be more effective like companies are every day. You have to remain competitive and you have to remain efficient and effective and the answer isn't always more money. Money tries to paper over the problem, and I'm not a papering over business.
Source: 2020 New York State of the State address , Jan 8, 2020

2015 Opportunity Agenda: cut $1.7B taxes; add $1.5B programs

Governor Andrew Cuomo presented his "2015 Opportunity Agenda," designed to restore economic opportunity, improve and reform our education system, and restore the public's confidence and trust in our justice system. This plan is a bold and comprehensive package of legislative reforms, state actions, and public investments that will increase opportunity for all New Yorkers and keep the State moving forward.
Source: State of the State address to 2015 New York Legislature , Jan 21, 2015

Economic Blueprint: growth via development projects

Today, I am laying out a three-part plan:
  1. The next phase in our economic blueprint for growth
  2. A reimagined government that can make our plans a reality
  3. And a New York vision for a progressive future
Our economic blueprint: How does government spur job creation in a down economy while limiting spending and maintaining fiscal discipline? The answer: Creative public/private partnerships that leverage state resources to generate billions of dollars in economic growth.
Source: 2012 New York State of the State Address , Jan 4, 2012

1990s HUD: Sued banks to make more mortgage loans

The federal government sued banks to force them to make risky mortgage loans. Andrew Cuomo, then secretary of Housing & Urban Development, bragged at a 1998 press conference about reaching a settlement with a major lender worth billions of dollars. Cuomo even admitted he knew some of these loans would not be paid back. Nice thing to do with other people's money.

Some of the blame belongs to consumers, who borrowed money they knew they couldn't repay. They traded up & borrowed more than they could handl because, well, we all deserve a big house, don't we? Owning a home is part of the American Dream. But getting it through an interest-only adjustable rate mortgage is more like a nightmare.

Predictably, after the meltdown the liberals called on the government to adopt strict new regulations to ensure it will not happen again. (Good luck with that.) But more regulations can't solve what is largely an ethical problem within the culture. Unchecked avarice at every level has taken a toll on our economy

Source: Leadership and Crisis, by Bobby Jindal, p.266 , Nov 15, 2010

OpEd: 2001 HUD Fannie/Freddie policy led to mortgage crisis

Many of the policies that led to the current mortgage crisis were actually implemented at HUD under Cuomo. As the Wall Street Journal noted:

"A HUD website archive, 'Highlights of HUD Accomplishments 1997-1999,' chronicles that Secretary Cuomo established new Affordable Housing goals requiring Fannie Mae and Freddie Mac--two government-sponsored enterprises--to buy $2.4 trillion in mortgages in the next 10 years. This will mean new affordable housing for about 28.1 million low-and-moderate- income families. The historic action [changed the rules for] mortgage loans for low- and moderate-income families from the current 42% of their total purchases to a new high of 50%--a 19% increase--in the year 2001."

The "Village Voice" accuses Cuomo of making a series of decisions that "gave birth to the mortgage crisis" and resulted in 3 to 4 million people facing foreclosure. And many commentators believe that the subprime mortgage crisis fueled the global financial crisis that began in late 2008.

Source: Take Back America, by Dick Morris, p.193 , Apr 13, 2010

Upstate economy will be a priority, not “caboose”

Cuomo delivered energetic speeches in which he lambasted Pataki for failing to improve the upstate economy. The governor has “taken the Empire State and made it the caboose on the economic train,” said Cuomo, who promised, if elected, to make 2003 the year “the Empire State strikes back.”
Source: Elizabeth Benjamin, The Times Union , Mar 24, 2002

Other governors on Budget & Economy: Andrew Cuomo on other issues:
NY Gubernatorial:
Andrew Giuliani
Andrew Yang
Bill de Blasio
Cynthia Nixon
Eric Adams
George Pataki
Howie Hawkins
John DeFrancisco
Kathy Hochul
Kirsten Gillibrand
Larry Sharpe
Lee Zeldin
Letitia James
Marc Molinaro
Mike Bloomberg
Rob Astorino
Shaun Donovan
Tom Suozzi
Zephyr Teachout
NY Senatorial:
Alex Merced
Charles Schumer
Chele Farley
Dave Webber
Kirsten Gillibrand
Marc Molinaro
Scott Noren
Wendy Long
Gubernatorial Debates 2021:
CA Recall:
S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Former U.S.Rep Doug Ose(R)
vs.Laura Smith(R)
vs.Former Olympian Caitlyn Jenner(R)
vs.Radio Host Larry Elder(R)
vs.Kevin Paffrath(D)
vs.Gavin Newsom(D)
NJ: Incumbent Phil Murphy(D)
vs.State Rep. Jack Ciattarelli(R)
vs.Candidate Hirsh Singh(R)
vs.GOP Chair Doug Steinhardt(R)
VA: Incumbent Ralph Northam(D,term-limited)
vs.Former Governor Terry McAuliffe(D)
vs.CEO Glenn Youngkin(R)
vs.A.G. Mark Herring(D)
vs.State Sen. Amanda Chase(I)
vs.Lt. Gov. Justin Fairfax(D)
vs.State Rep. Jennifer Carroll Foy(D)
vs.State Rep. Lee Carter(D)
vs.State Sen. Jennifer McClellan(D)
vs.State Rep. Kirk Cox(R)
vs.CEO Pete Snyder(R)

Gubernatorial Debates 2023:
KY: Incumbent Andy Beshear(D)
vs.Former Gov. Matt Bevin(? R)

vs.Senator Rand Paul(? R)
vs.State Auditor Mark Harmon(R)
LA: Incumbent John Bel Edwards(D,term-limited)
vs.Biden Adviser Cedric Richmond(? D)
vs.Senator John Neely Kennedy(? R)
MS: Incumbent Tate Reeves(R)
vs.Bill Waller(R)

Gubernatorial Debates 2022:
AK: Incumbent Mike Dunleavy(R)
vs.Bill Walker(I)
vs.Les Gara(D)
vs.Billy Toien(L)
AL: Incumbent Kay Ivey(R)
vs.Chris Countryman(D)
vs.Stacy Lee George(R)
vs.Ambassador Lynda Blanchard(R)
AR: Incumbent Asa Hutchinson(R,term-limited)
vs.Trump Adviser Sarah Huckabee Sanders(R)
vs.A.G. Leslie Rutledge(R,withdrew Nov.2021)
vs.Ricky Dale Harrington(L)
vs.Anthony Bland(D)
AZ: Incumbent Doug Ducey(R,term-limited)
Mayor Marco Lopez(D)
vs.Former news anchor Kari Lake(R)
vs.Secretary of State Katie Hobbs(D)
vs.State Treasurer Kimberly Yee(R)
vs.U.S.Rep.Matt Salmon(R)
vs.Steve Gaynor(R)
vs.State Rep.Aaron Lieberman(D)
vs.Jorge Rivas(R)
vs.Karrin Taylor Robson(R)
CA: Incumbent Gavin Newsom(D)
vs.S.D.Mayor Kevin_Faulconer(R)
vs.Former Gov. nominee John Cox(R)
vs.Kevin Paffrath(D)
CO: Incumbent Jared Polis(D)
vs.Mayor Greg Lopez(R)
vs.Heidi Ganahl(R)
CT: Incumbent Ned Lamont(D)
vs.Bob Stefanowski(? R)
FL: Incumbent Ron DeSantis(R)
vs.Former Gov.Charlie Crist(D)
vs.Agriculture Commissioner Nikki Fried(D)
vs.Annette Taddeo(D)
GA: Incumbent Brian Kemp(R)
vs.Minority Leader Stacey Abrams(D)
vs.Senate candidate Shane Hazel(L)
vs.State Rep.Vernon Jones(R)
vs.2020 candidate Kandiss Taylor(R)
vs.Senator David Perdue(R)
HI: Incumbent David Ige(D,term-limited)
vs.Marissa Kerns(R)
vs.Lt.Gov.Josh Green(D)
vs.Vicky Cayetano(D)
vs.Paul Morgan(R)
vs.State Rep.Kirk Caldwell(D)
IA: Incumbent Kim Reynolds(R)
vs.Deidre DeJear(D)
vs.State Rep.Ras Smith(D)
ID: Incumbent Brad Little(R)
vs.Raul Labrador(R)
vs.Lt. Gov. Janice McGeachin(R)
vs.Ammon Bundy(R)
vs.Ed Humphreys(R)
IL: Incumbent J.B. Pritzker(D)
vs.State Sen.Darren Bailey(R)
vs.Paul Schimpf(R)
vs.Jesse Sullivan(R)
KS: Incumbent Laura Kelly(D)
vs.Jeff Colyer(R)
vs.State Sen.Derek Schmidt(R)
vs.Chase LaPorte(R)
Gubernatorial Debates 2022 (continued):
MA: Incumbent Charlie Baker(R)
vs.Lt.Gov.Karyn Polito(R)
vs.State Rep. Geoff Diehl(R)
vs.Harvard Professor Danielle Allen(D)
vs.State Sen.Ben Downing(D)
vs.State Sen.Sonia Chang-Diaz(D)
vs.Shiva Ayyadurai(I)
MD: Incumbent Larry Hogan(R,term-limited)
vs.State Del.Robin Ficker(R) vs.State Del.Peter Franchot(D) vs.State Del.Kelly M. Schulz(R) vs.Secretary John B. King(D) vs.Ashwani Jain(D) vs.State A.G. Doug Gansler(D) vs.County Exec. Rushern Baker(D) vs.Secretary Thomas Perez(D) vs.Wes Moore(D) vs.Dan Cox(R)
ME: Incumbent Janet Mills(D)
vs.Former Gov. Paul LePage(R)
MI: Incumbent Gretchen Whitmer(D)
vs.Chief James Craig(R)
vs.Police Chief Tudor Dixon(R)
vs.Garrett Soldano(R)
vs.John E. James(? R)
MN: Incumbent Tim Walz(DFL)
vs.Mayor Mike Murphy(R)
vs.State Sen.Scott Jensen(R)
vs.Michelle Benson(R)
vs.Paul Gazelka(R)
NE: Incumbent Pete Ricketts(R,term-limited)
vs.U.S.Senator Bob Krist(R)
vs.Chuck Herbster(R)
vs.Jim Pillen(R)
vs.Brett Lindstrom(R)
vs.Carol Blood(D)
NH: Incumbent Chris Sununu(R)
vs.Dan Feltes(D)
vs.Karen Testerman(R)
NM: Incumbent Michelle Lujan Grisham(D)
vs.Commissioner Jay Block(R)
vs.State Rep.Rebecca Dow(R)
vs.Mark Ronchetti(R)
NV: Incumbent Steve Sisolak(D)
vs.A.G.Adam Laxalt(R)
vs.North Las Vegas Mayor John Lee(R)
vs.Dean Heller(R)
vs.Joe Lombardo(R)
vs.Mayor Michele Fiore(R)
NY: Incumbent Andrew Cuomo(D,resigned)
vs.Acting Gov.Kathy Hochul(D)
vs.Rob Astorino(R)
vs.Andrew Giuliani(R)
vs.US.Rep.Lee Zeldin(R)
vs.Tom Suozzi(D)
vs.Attorney General Letitia James(D)
OH: Incumbent Mike DeWine(R)
vs.Former Rep.Jim Renacci(R)
vs.Dayton Mayor Nan Whaley(D)
vs.Mayor John Cranley(D)
OK: Incumbent Kevin Stitt(R)
vs.State Sen. Ervin Yen(R)
vs.Connie Johnson(D)
vs.Joy Hofmeister(D)
OR: Incumbent Kate Brown(D,term-limited)
vs.Gov. nominee Bud Pierce(R)
vs.Paul Romero(R)
vs.Casey Kulla(D)
vs.Kerry McQuisten(R)
vs.Tina Kotek(D)
vs.Nicholas Kristof(D)
vs.Tobias Read(D)
PA: Incumbent Tom Wolf(D,term-limited)
vs.U.S.Rep. Lou Barletta(R)
vs.Commissioner Joe Gale(R)
vs.A.G.Josh Shapiro(D)
vs.William McSwain(R)
vs.U.S.Rep.Melissa Hart(R)
vs.State Sen.Scott Martin(R)
RI: Incumbent Gina Raimondo(D,to Cabinet)
vs.Gov. Dan McKee(D)
vs.Secy.Matt Brown(D)
vs.Mayor Allan Fung(R ?)
vs.Luis-Daniel Munoz(D)
vs.RI Secretary of State Nellie Gorbea(D)
vs.Seth Magainer(D)
vs.Helena Foulkes(D)
SC: Incumbent Henry McMaster(R)
vs.US.Rep.Joe Cunningham(D)
vs.State senator Mia McLeod(D)
SD: Incumbent Kristi Noem(R)
vs.State Rep. Billie Sutton(? D)
TN: Incumbent Bill Lee(R)
vs.Carnita Atwater(D)
vs.J B Smiley(D)
TX: Incumbent Greg Abbott(R)
vs.Beto O`Rourke(D)
vs.Chad Prather(R)
vs.State Sen.Don Huffines(R)
vs.U.S.Rep. Allen West(R)
vs.Deidre Gilbert(D)
VT: Incumbent Phil Scott(R)
(no prospective opponents yet)
WI: Incumbent Tony Evers(D)
vs.CEO Jonathan Wichmann(R)
vs.Rebecca Kleefisch(R)
WY: Incumbent Mark Gordon(R)
vs.Rex Rammell(R)
vs.Minority Leader Chris Rothfuss(? D)
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Page last updated: Dec 31, 2021