Our View: Neutral party should estimate state revenue

Thursday, February 28, 2008 12:09 PM EST

Wildly different estimates have been thrown around this week as to how much money New York will have to work with as lawmakers prepare to come up with a budget for the next fiscal year.
With the state Assembly, state Senate, and Gov. Eliot Spitzer all coming up with different revenue projections, coming to a consensus on spending - a process that needs to be completed this week - becomes just another round of political volleys.

The problem is that partisan projections can't be trusted, and because each entity uses different methods to come up with their figures, it's not a good starting point for budget negotiations.

As it stands, Spitzer's proposed budget includes spending of $124 billion, some of which he has specific designs for (remember the $1 billion Upstate Revitalization Fund?). The Assembly, looking to cut back on spending during an economic slowdown, says Spitzer's budget overestimates projected revenue by $615 million; and the Senate, hoping to spend more on things like larger property tax rebates, says Spitzer's estimate falls $99 million short.

Instead of starting with three numbers, it would be better if an office that's not involved in the budget negotiations be given the task of coming up with a figure: the state comptroller.

Sure, the comptroller is a politician, too, but as the state's chief fiscal officer, it's his job to oversee government spending, so coming up with a reasonably accurate state revenue projection shouldn't be too much for his office to handle.

No revenue projection is going to be perfect, but having an outside office make its best determination would give those involved in the budget process the same figure to work with, eliminating one more contentious subject for the Assembly, the Senate, and the governor's office to fight over.

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