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 comments for “It Depends What the Definition of “Broke” Is

  1. June 3, 2010 at 1:33 am

    “How did you go bankrupt?”

    “Two ways, gradually and then suddenly.”

    Ernest Hemingway, “The Sun Also Rises”

  2. Mark Axinn
    June 2, 2010 at 3:02 pm

    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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