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Restoring Fiscal Responsibility

Governor Pataki’s responsible fiscal policies brought New York State from crisis to comeback.

Governor Pataki reversed the decades-long pattern of fiscal mismanagement and irresponsible spending created by “Cuomonomics” by controlling spending growth, enacting sweeping debt reforms, increasing our fiscal reserves, and demanding fiscally sound budgets.

And today, as New York faces new economic challenges, Governor Pataki’s sound fiscal policies have provided our economy with the strong fiscal foundation it needs to recover again.

• Thanks to Governor Pataki, New York State has its highest credit rating in more than 23 years.
  
  
• New York also received its first-ever double credit rating upgrade from two different financial rating agencies.
  
  
• Under Governor Pataki’s leadership, New York’s credit rating moved from second worst to 21st best in the nation, representing the largest single improvement in State history.
  
  
• Governor Pataki wisely saved New York’s budget surpluses in “rainy day funds” – a total of $2.6 billion prior to September 11th – which gives New York State the resources to address the new economic challenges we face today.
  
  
• And Governor Pataki’s strong economic policies allow him to keep cutting taxes. Governor Pataki will not delay this year’s scheduled tax cuts – unlike his predecessor who delayed tax cuts in 1989, 1990, 1991, 1992, 1993 and 1994.