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ALBANY -- New York’s state budget adopted Monday is spending public money at a rate of more than $15 million every hour, according to the Empire Center for New York State Policy.
The fiscally conservative think tank has set up a spinning “spend-o-meter" based on the new state budget. The device shows the $137.9 billion budget adopted Monday spends $4,373 per second adding up to $377.8 million per day and over $2 billion per week.
"New York State government will spend $16.7 million more per day under the newly enacted budget than it did just 5 years ago," said E.J. McMahon, president of the Empire Center. "Our Spend-O-Meter is just one way to put the massive New York State budget in perspective."
Gov. Andrew M. Cuomo and the Legislature kept spending growth under 2 percent for the fourth straight year. The state budget also includes tax breaks for businesses and on property taxes.