Giveaway Artist Must Takeaway as New York Gov
What does a party defined by giveaways do with power in the bad times? Andrew Cuomo, who helped collapse the economy, has to figure that out after taking over as Governor of New York.
Cuomo takes office... with restless public employee unions -- a traditional Democratic base -- concerned about cuts to pension benefits. The state liability to teachers alone is expected to quadruple over the next five years, according to a study by the Empire Center for New York State Policy.
Voters aren't going to be happy when he raises income and sales taxes to make ends meet, and unions, accustomed to payoffs from the Dems, aren't going to be pleased when he proposes cuts to benefits.
He has promised not to raise property taxes to help close the nearly $10 billion shortfall on a $136 billion budget.
If Cuomo has learned from his mistakes, then he's well-positioned to fix the state.
While at HUD, Cuomo pressured the Federal Housing Administration and housing finance giants Fannie Mae and Freddie Mac to expand home ownership by lowering mortgage standards, policies that opponents say contributed to the housing bubble and resulting financial crisis of 2008.
Cuomo wants to do what his father didn't - become president.
Mario Cuomo resisted calls to run for president in 1988 and 1992 from Democrats who were out of power and longing for a charismatic leader. Andrew Cuomo could put himself on a short list of presidential hopefuls with a productive governorship.
Democrats are giveaway artists. Ask them to takeaway, and what happens?
"If the state government collapses, which is not entirely out of the question, he is not going to move on," said Ken Sherrill, a professor of political science at Hunter College in New York.