New York comptroller exposes IDA racket

Late last year, New York's attorney general concluded that regional economic development and industrial development (EDCs and IDAs) slush funds were rife with the potential for seal-dealing, nepotism, improper loans and exorbitant expenses.

These taxpayer-supported rackets do government business but have little oversight and are exempt from being audited by the state comptroller's office. To say nothing of the massive redundancies of similar overlapping agencies. I've opined many times that a sober and thorough cost-benefit analysis would show this.

So it's little surprise that the comptroller has recently concluded that IDAs are a huge waste of money. Comptroller Tom DiNapoli said more than 4,000 businesses received the tax breaks, but that IDAs realized 22,000 fewer jobs last year than the year before while using the economic development tool.   "Taxpayers are not getting enough bang for their buck when it comes to IDAs,"DiNapoli said, according to the Associated Press.


The comptroller noted that the cost of the average IDA-secured job increased 9 percent from 2010 to 2011.

DiNapoli proposed a bill that would allow taxpayers to better analyze the effectiveness of IDAs and their tax breaks. His bill would require clearly described job goals when a tax break is provided, followed by an accounting when the tax break expires. If the jobs promised weren't created, local governments would have a "claw back" provision to extract the avoided taxes from the company.   


DiNapoli's proposal would also require annual reports from IDAs and a report card on projects and their job success. 

Update: The Innovation Trail public radio project has a great piece on the lack of transparency in IDAs and its consequences.

Clowns to the left of me, jokers to the right

"The definition of stupidity is doing the same thing over and over again and expecting different results." -Albert Einstein

Adirondack Musing blog is written by a self-described liberal. Its author seems like an eminently decent guy, no clown or joker he. But he seems to fall prey to the same disease that affects far too much of society. Too many Americans, including lots of otherwise decent ones, seem to define themselves more strongly by what and whom they are against rather than what and whom they are for. What this unfortunately means is that too many Americans are more interested in opposing than in doing.

His blog devoted primarily to taking shots at conservatives and this entry is no exception. He approvingly quotes a conservative economist who declared, "Until conservatives once again hold Republicans to the same standard they hold Democrats, they will have no credibility and deserve no respect."

Yet I contend that liberals are guilty of the same thing.

Until liberals once again hold Democrats to the same standard they hold Republicans, they will have no credibility and deserve no respect.

I concluded this over a decade ago, which is why I switched my party registration from Democrat to Green. The intervening ten years has only strengthened my belief that I was right to do so.

For example, President Obama is about to abandon the "public option" of his so-called health care reform bill. This isn't a compromise. It's a capitulation. It's not sacrificing something good to get something decent. He's abandoning the only semi-redeeming feature of his vastly inadequate plan.

And whose fault is that?

According to liberal Democrats, it's the fault of the Republicans, the Party of No, the "mobs" and "hooligans" trying to shut down town halls, the far right wing nuts tilting at windmills.

All worthy of scorn no doubt, but mere scapegoats.

Why isn't it the fault of the party that has 60 pct. majorities in both houses of Congress?

Why isn't it the fault of the Messiah who promised Change We Can Believe In and consistently failed/refused to deliver, on issues from Guantanamo to the War Against Civil Liberties to, now, health care.

The last time the Democrats controlled the presidency and had Congressional majorities of this size, they passed Medicare and Medicaid. This time, they can't even pass a modest 'public option.'

The Democrats promised us that things would be so much different if we simply gave them all the power. Liberals crossed their hearts and promised us they would hold Obama's feet to the fire.

I knew that was b.s. and I didn't believe it for a second. Now we're seeing it clear as day with his capitulation on the only semi-worthy part of what should be the most important bill of his presidency.

The truth is that neither the public option nor the sensible option (Medicare For All/single payer) were killed by the evil, minority Republicans. They were killed by sainted DEMOCRATS. I'd say Adirondack Musing's rage and those of other liberals is just as misdirected as the conservatives they vilify.

So here's my question: when will these self-described liberals hold Democrats accountable to the same degree they did so for BushCheney and the Republicans?

Democrats are beholden to corporate interests to more or less the same degree as Republicans. If this fiasco doesn't make that clear, nothing will.

If you really want change to believe in, start voting for smaller party and independent candidates not bought and paid for by corporate America. It may not bring change instantly, but there is no way forward without real multipartyism.

Update: Adirondack Musing offers his retort.

Blank checks are bad policy

I'm skeptical of giving a blank check to save GM and Ford, just as I was skeptical of giving one to save the financial industry or to fund the (continuing) Iraq Aggression. That said, I have a hard time understanding why many of the same legislators who are demanding the auto makers provide a viable plan before forking over TENS of billions of tax dollars refused to demand that Wall St. or Commander-in-Chief Bush produce a viable plan before forking over HUNDREDS of billions of tax dollars. Congress is right to expect some accountability from Detroit. It's too bad they don't demand any accountability from those who want far more.