CNBC is reporting that New York State is “nearly” broke and has delayed payments on $2.5 billion in bills.
“Had we not done that, I think we would have been close to broke,” [State Budget Director Robert] Megna told reporters in Albany. This is the third time since December the cash-poor state has withheld funds.
Excuse me, but if you’re blowing off your bills because you don’t have the money to pay them, you are already broke.