I am a regular "Joe" may be not a plumber but a regular average next door guy who is concerned with USA economy. Currently underemployed and with a $ 250 000 in student loans and with a bankruptcy filed not long time ago my passion for the state of the economy arouse ... My purpose is to gather information from different journals and or blogs and help those fellows americans interested in the economy have a broader perception of what really is happening.
The real state deficit it is unknown...why? because the sate of new york (and every other state, municipality, federal government and even financial institutions) do what is known as sweep. Sweep: when money is taking from another source to pay something else (i.e. taking money from social security to pay another debt) ...this practice is so widespread that the state is unable to pin down how much the deficit is...that is why some people in albany are proposing to eliminate that practice and write in the accounting books events when they do happen .....
The real state deficit it is unknown...why? because the sate of new york (and every other state, municipality, federal government and even financial institutions) do what is known as sweep. Sweep: when money is taking from another source to pay something else (i.e. taking money from social security to pay another debt) ...this practice is so widespread that the state is unable to pin down how much the deficit is...that is why some people in albany are proposing to eliminate that practice and write in the accounting books events when they do happen .....
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