It Depends What the Definition of “Broke” Is

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.

2 thoughts on “It Depends What the Definition of “Broke” Is”

  1. One way the states are trying to manage their cash flow issues is to slow down tax refund checks to their citizens.

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