New York’s state and local governments and their taxpayers are on an unsustainable fiscal path, despite some improvements and a public perception that the outlook is far brighter, a nonpartisan task force found in a report released Tuesday. The state is plagued, as it has for decades, by “structural budget problems” and partisan politics in budgeting, the task force found. The long-term state deficit “has been papered over with gimmicks” that continue, it said. “There is no assurance that the state’s structural debt is sustainable,” the report stated. It also warned of a “growing number of illiquid, near-insolvent cities and counties with structural budget deficits.” “New York’s fiscal future sits on shaky ground,” the report concluded.
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