Whoops there goes another $1 billion (CORRECTED)

The Empire Center for New York State Policy posted a nifty $pend-O-Meter at the bottom of their home page showing how much New York State has pissed away since the start of the fiscal year on April 1. As of this writing, just three days in, the meter has already passed $1.1 trillion billion.

Calibrated to Governor Spitzer’s estimate of $120.9 billion in “all funds” spending under the enacted budget for the 2007-08 fiscal year, the Empire Center’s “Spend-O-Meter” spins at the following rates:

$3,834 per second

$230,023 per minute

$13,801,370 per hour

$331,232,877 per day

$2,325,000,000 per week

$10,075,000,000 per month

“Under this year’s budget, our state government will spend more every 12 seconds than the average worker earns in a year,” said E.J. McMahon, director of the Empire Center.

Just think how much worse it would have been if “everything” hadn’t “changed on Day 1.”

Hat tip: Capitol Confidential

UPDATE: Commenter Tom Blanton caught a major goof on my part. The state spends $1 billion every three days, not $1 trillion. I guess all those zeroes made my eyes glaze over.

3 comments for “Whoops there goes another $1 billion (CORRECTED)

  1. April 9, 2007 at 11:14 am

    I certainly didn’t mean to imply that NY’s budget is reasonable – that is for the citizens of NY to determine. The budget here in Virginia, per capita, is not far off the NY budget – and I deem it to be outrageous.

    The point is that if you are in the business of selling political ideas, credibility is a major selling point. Extreme exaggerations hurt your cause.

    You might try dividing the NY budget by the population of NY to bring about the sense of outrage you sought in your original post.

    For example, the federal budget of nearly $3 trillion works out to nearly $10,000 for each of the 300 million men, women and children of America.

    That is a real eye opener to most people, even small government conservatives and minarchist libertarians. When you add in the per capita budgets of local and state government, you end up with a figure that approaches the national median income.

  2. April 5, 2007 at 10:17 am

    Oops, my bad. Thanks for the catch.

    Now the budget seems rather reasonable, doesn’t it? :-)

  3. April 5, 2007 at 12:28 am

    $1.1 Trillion? Huh?

    The federal government is spending just under $3 Trillion – a year.

    I doubt seriously if NY is spending $1.1 Trillion in 3 days.

    If the numbers above are accurate, NY is spending a little over
    $120 Billion (with a “B”) per year.

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