When Democratic New York State Comptroller Tom DiNapoli released the June Cash report earlier this month, he delivered the dreaded news that many were anticipating.  New York State, which managed to dig itself into an over $87 million hole, is now officially broke.

Despite the current flow of steady red ink, the Comptroller, who signed off on the budget, is now suggesting there are signs our current financial state will improve sometime in the future. Yet I fear that with school aid funding due in September, New York will be put even deeper into the red.

For what it’s worth, New Yorkers for Constitutional Freedoms strongly encourages New York elects to get a move on, and finalize the state budget.  The Empire State has almost reached a historic day – the latest date that a State Budget has ever passed.  We’re not there yet, but we’re standing on the precipice overlooking a fiscal canyon.