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View Full Version : Suozzi is a liar! - On News 12 tonight!


Telly Savalas
03-11-2008, 10:31 PM
Did anyone catch Nassau County Executive Thomas R. Suozzi on News 12 tonight after he gave his "State of the County" speech from Mineola. After the speech, Suozzi appeared on News 12 "Ask the County Executive" hosted by News Anchor Scott Feldman.

After the commercial break at 8:15pm, Suozzi was asked a couple of questions from a caller in RVC. The caller asked Suozzi what was the actual budget deficit for this year (2008) and if people were concerned that Suozzi's idea to Refinance NIFA debt is nothing more than a sham in which to conceal the over $100 million in deficits into the future beginning in 2009?

Suozzi stammered, argued, threatened that the guy was reading from a Republican Playbook....but I noticed one thing - Suozzi never answered the questions.

Then Suozzi lied. Suozzi said that NIFA wouldn't approve a Budget if it had a deficit in it? Suozzi said to read the independent analysis and dimiss the partisan caller.

Wow! - This is a complete lie.

The Nassau County Legislature led by the Democratic Majority approved the proposed 2008 Nassau County Budget that had over $50 million in deficits.

Nassau County Comptroller Howard Wtzman offered his analysis in October of 2007 that the proposed 2008 Budget had $50 million in deficits.

The Nassau County Office of Legislative Review offered analysis that the County's 2008 budget was off by $57 million.

NIFA agreed with the Nassau Office of Legislative Review and stated that the 2008 proposed Budget was off by $57 million.

Suozzi ther doesn't understand finance or is a liar!

Peter - Baldwin
03-11-2008, 10:42 PM
Suozzi said read the editorials. I read Newsday's last year.

Read em and weep Tom Suozzi

Name this budget Suozzi's fiscal plan for 2008 relies too much on gimmicks and hope

Newsday - Long Island, N.Y.
Date: Sep 19, 2007
Start Page: A.34
Section: OPINION
Text Word Count: 421
Nassau County Executive Tom Suozzi wants to play the name game to raise revenue. He plans to sell naming rights to public buildings and facilities. Even the honor of bng the most favored beverage in town is for sale. Well, Pepto-Bismol might want the tax assessor's office and Ty-D-Bol could be a contender for the Aquatic Center. And surely Suozzi is drinking the Kool-Aid if he thinks this is the most responsible way to balance the county's $2.5-billion budget.

The 2008 budget is a risky one because Suozzi was determined not to raise taxes. It is heavily dependent on almost $20million in state aid that might never arrive. For example, the budget anticipates a rmbursement of $4.1 million for tuition money it spent to send Nassau students to the Fashion Institute of Technology. Even though required by law to send payment, Albany has not cut such a check since 2001. And while the State Legislature was expected to increase mortgage recording fees, a net of $15 million for Nassau, the poisonous atmosphere in the capital now makes that far from a sure thing.

Next year's budget shows an additional $1.1 million from increased park fees - long overdue, especially for the very low marina slip charges - but Suozzi's fellow Democrats in the legislature balked on this issue last year and are just as likely to do so again in an election year. The budget is also balanced on one-shot infusions of cash, such as $24 million from the tobacco litigation settlement and the temporary deferral of expenses like police wage increases that don't kick in for a few years. While Suozzi cleverly used surpluses to reach his goal, his reliance on nonrecurring revenue is troublesome.

Suozzi does have a realistic number for sales tax revenue, which at $1 billion makes up about 40 percent of the budget. He projects it to grow at 2.5 percent next year.

So what can the county executive do if the revenue projections fail and the county heads back toward the red? He can start by cutting down on the number of political appointees, which a recent report says has doubled since he took office in 2002. How many deputy commissioners does the parks department really need?

The wiser route for Suozzi would have been to seek small tax increases in both 2007 and 2008, measures that would have ensured the county's future fiscal health. Since he knows what it's like to inherit a fiscal mess, he shouldn't risk leaving one when he moves on.

RVC-Michael
03-11-2008, 10:46 PM
NEWSDAY - published letter to the Editor
February 7, 2008

Nassau's failure of due diligence

My thanks to Newsday for the editorial "More dysfunction" [Opinion, Jan. 30], highlighting the Nassau County Legislature's chronic inability to perform adequate due diligence on behalf of the taxpayers.

It is critical that our elected legislators be given sufficient time to thoroughly review all proposals. Nassau taxpayers know all too well from the Gulotta years that minimizing appropriate due diligence comes at a significant cost.

The Democratic legislative majority rubber-stamped the Suozzi administration's request for takeover of the Glen Cove, Cedarhurst and Lawrence sewer districts. The Democrats approved the takeover despite the request to delay voting for two weeks until the Nassau comptroller, the Office of Legislative Budget Review and the Nassau Interim Finance Authority could provide financial analyses of the takeover.

Nassau County will now own and manage the sewage plant previously owned and managed by the City of Glen Cove, which had become too expensive for the financially strapped city to operate. Nassau County will be responsible for the upgrade and repair of the plant with annual operating costs around $4 million. The total cost of Nassau County bailing out Glen Cove is estimated to be in excess of $30 million.

How can Nassau County afford to bail out Glen Cove, where County Executive Tom Suozzi and Presiding Officer Diane Yatauro make thr home, when Nassau County has a projected 2008 deficit in excess of $65 million?

Michael P. Mulhall
Rockville Centre

Sally - Port Washington
03-11-2008, 10:51 PM
Suozzi stated that NIFA approved the Budget on TV tonight.

Newsday reported that the Nassau County Legislature approved the Budget

Approved along party lines In a 10-9 vote, Nassau Legislature pushes through Democrat Suozzi's $2.5B budget that adds more money for social programs

Newsday - Long Island, N.Y.
Author: SID CASSESE; WILLIAM MURPHY
Date: Oct 30, 2007
Start Page: A.14
Section: NEWS
Text Word Count: 443

The Nassau County Legislature, voting along party lines, approved a $2.5-billion budget for 2008 yesterday after making about $2 million in changes to add funding for social programs.

"We have shifted some priorities ... to assist our residents who are most in need," Presiding Officer Judy Jacobs (D-Woodbury) said just before the 10-9 vote of approval.

All nine Republicans voted in favor of the spending changes, but then voted against the overall budget. Minority Leader Peter Schmitt (R-Massapequa) said that spending was too high and the budget was balanced on unrealistic assumptions, such as revenue from a county cigarette tax and red-light cameras, which have not gotten approval from the State Legislature.

The special legislative session finished before noon, and the legislature adjourned, with the 10 Democrats joining a news conference with County Executive Thomas Suozzi, whose administration proposed the budget.

"The Republicans created the mess in Nassau County; the Democrats cleaned it up," said Suozzi, who has touted the fact that his budget contains no increases in the county property tax.

The budget vote gave both Republicans and Democrats what they wanted in an off-year election in which all 19 legislative two-year seats are open in next week's general elections.

Republicans can claim to be anti-tax, fiscal conservatives in a year in which thr top campaign issue is a proposal to freeze property tax assessments for five years.

And Democrats can claim they have provided much-needed services for the county's neediest residents.

Among the spending shifts made by the legislature was restoring $700,000 for community-based organizations funded by the Youth Board, and $300,000 more in new funding for them.

"This will make a big difference to a lot of kids and thr parents," said Peter Boyle, the executive director of the Gateway Youth Council in Elmont. "And it will be even better if the funds are recurring, rather than one-time only."

Legis. Kevan Abrahams (D-Hempstead) later made sure to get on the record that the legislature intends for the Youth Board funds to be continuous.

The budget changes also:

Eliminated a 10-percent match for agencies supplying meals for seniors, while adding $100,000 to help eliminate a lengthy waiting list for the Meals on Wheels program.

Restored $250,000 to community-based mental health programs.

Restored about $250,000 to social service programs, such as the Domestic Violence Prevention Initiative.

Gave $100,000 to the Nassau SPCA.

Added $150,000 for two fire marshal positions, which legislators say will generate revenue to cover thr cost.

Unregistered1111
03-11-2008, 10:54 PM
Suozzi presented a balanced budget to the Legislature. It is a public document that anyone can view. It was the OPINION of Wtzmann and the Legislative Budget Review that the budget had 50 million in deficits in it. No one will know for sure until 2008 ends. The County executive is required by law to present a balanced budget to the legislature.

Please try to be honest if you're going to sound so self righteous and indignant.


----------------------------------------------------------------------

The Nassau County Legislature led by the Democratic Majority approved the proposed 2008 Nassau County Budget that had over $50 million in deficits.

Nassau County Comptroller Howard Wtzman offered his analysis in October of 2007 that the proposed 2008 Budget had $50 million in deficits.

The Nassau County Office of Legislative Review offered analysis that the County's 2008 budget was off by $57 million.

NIFA agreed with the Nassau Office of Legislative Review and stated that the 2008 proposed Budget was off by $57 million.

Suozzi ther doesn't understand finance or is a liar![/QUOTE]

RVC-Michael
03-11-2008, 10:54 PM
NEWSDAY - Letters to the Editor
published October 5, 2007

Nassau budget is unrealistic

My thanks to Newsday for your coverage of Nassau County Executive Thomas Suozzi's 2008 budget proposal. After three weeks, I have yet to see any analysis offered by our elected officials. My problem with the proposed 2008 budget is that it fails to acknowledge how the current six years of national economic expansion are bng threatened by numerous problems associated with the housing market and its potential impact on Nassau sales tax revenues.

Sales of new, single family homes have fallen along with median sales price.

The impact of weak housing prices on local economic activity is important as it has been estimated by numerous economists that housing has as much as three times the impact of the stock market on consumer spending.

As a result, many leading economists are predicting that this coming Christmas shopping season will be the worst since 2002.

My concern is, if economic forecasts are accurate, it is quite likely that Nassau County could recognize a potential budget deficit for 2007 that could be way off the mark a result of soft economic conditions. The 2008 budget fails to recognize these deteriorating economic conditions.

Michael Mulhall
Rockville Centre

Take a pamprin
03-11-2008, 11:08 PM
Suozzi presented a balanced budget to the Legislature. It is a public document that anyone can view. It was the OPINION of Wtzmann and the Legislative Budget Review that the budget had 50 million in deficits in it. No one will know for sure until 2008 ends. The County executive is required by law to present a balanced budget to the legislature.

Please try to be honest if you're going to sound so self righteous and indignant.


----------------------------------------------------------------------

The Nassau County Legislature led by the Democratic Majority approved the proposed 2008 Nassau County Budget that had over $50 million in deficits.

Nassau County Comptroller Howard Wtzman offered his analysis in October of 2007 that the proposed 2008 Budget had $50 million in deficits.

The Nassau County Office of Legislative Review offered analysis that the County's 2008 budget was off by $57 million.

NIFA agreed with the Nassau Office of Legislative Review and stated that the 2008 proposed Budget was off by $57 million.

Suozzi ther doesn't understand finance or is a liar![/QUOTE]

This is how you reconcile a proposed County Budget with Reality:
- You start with bng down $57 million. ($57 million total)
- add in another $6 million from a lawsuit the County lost ($63 million)
- add $40 million more due to money owed to the MTA - see Newsday ($103 million)
- no money from VLT's - oops -add another $23 million ($126 million)
- lost County Revenue from lost Mortgage refinancings - add another $10 million ($136 million)
- Tax Certiorari allocates $60 million; the County discovered that was not enough in 2007. Add another $10 million ($146 million)
- More Police Retirements than allocated for. Add nother $5 million ($151 million)

Hey, Tom Suozzi how am I doing?

You are full of crap and I am not taking your insults lying down. You essentially called me a partisan liar on TV tonight. I am on to you and this will get exposed.

Suozzi is seeking to roll the 2008 deficit in 2009 and blame the economy rather than take responsibility for blowing all of the Surplus Reserves of $282 million from his political choices.

Suozzi is carrying 435 people in patronage jobs - up from 193 in 2002 which is costing the Nassau Taxpayers $26 million a year.

This guy is a bigger fraud than Eliot Spitzer!

Unregistered11111
03-11-2008, 11:40 PM
I think its hysterical that when Wtzmann, NIFA and even NEWSDAY agree with Suozzi people with agendas like you call them lapdogs, but when they criticize Suozzi you accept thr opinions as law.

You have no credibility, whoever you are. So transparent.

RVC - Michael
03-12-2008, 10:28 AM
I think its hysterical that when Wtzmann, NIFA and even NEWSDAY agree with Suozzi people with agendas like you call them lapdogs, but when they criticize Suozzi you accept thr opinions as law.

You have no credibility, whoever you are. So transparent.

If I have no credibility why do you persist in trashing me rather than respond to my allegations?

Listen - math is not partisan.

While we agree to disagree, and while it may be politically unpopular to challenge the County Executive, it maybe necessary. Newsday published in today's edition how Suozzi is under consideration to replace U.S. Senator Hillary Clinton should she be ther the Presidential or Vice Presidential candidate of the Democratic Party and win the general election.

This outcome is even more likely should Governor Spitzer resign.

Thus, we have established a possible motive for why Suozzi is seeking to hide a 2008 Budget deficit of over $100 million into a questionable transaction labeled as refinancing NIFA debt. Suozzi leaves Nassau County with a gaping budget hole and blames it on the economy in 2009 rather than take responsibility. It would be embarrassing to Suozzi to have the disclosure come out now while he is seeking to reduce School / Property taxes.

To respond to your charges, I have never stated anything negative of Newsday or NIFA. I have criticized Howard Wtzman who is nothing more than a lap-dog for the Suozzi Administration. It is also rumored that Wtzman is bng considered to succeed Suozzi as County Executive should Suozzi move on to higher office.

If you cannot take the heat, get out of the kitchen.

This isn't my first rodeo - I am quite prepared to meet the County Executive's challenge and raise the stakes.

Mineola Observer
03-12-2008, 11:18 AM
This is how you reconcile a proposed County Budget with Reality:
- You start with bng down $57 million. ($57 million total)
- add in another $6 million from a lawsuit the County lost ($63 million)
- add $40 million more due to money owed to the MTA - see Newsday ($103 million)
- no money from VLT's - oops -add another $23 million ($126 million)
- lost County Revenue from lost Mortgage refinancings - add another $10 million ($136 million)
- Tax Certiorari allocates $60 million; the County discovered that was not enough in 2007. Add another $10 million ($146 million)
- More Police Retirements than allocated for. Add nother $5 million ($151 million)

$57 million down is fairly accurate starting point.
$6 million from a recent court loss - I am fine with that
$40 million to the MTA - valid; when do they have to pay it?
VLT- you are wrong - this was budgeted for 2009
Lost revenue from refinancings/ mortgage activity - I dunno
Tax Certirari - Wrong - The County is only allocatin $40 million in 2008. Your number of $60 million is too high. This one will come back to haunt them.
Police Retirments have money set aside to cover overages.

My guess is I come up with about a $125 million in deficits for 2008 has some validity.

Where's My Doctor?
03-12-2008, 11:37 AM
This is how you reconcile a proposed County Budget with Reality:
- You start with bng down $57 million. ($57 million total)
- add in another $6 million from a lawsuit the County lost ($63 million)
- add $40 million more due to money owed to the MTA - see Newsday ($103 million)
- no money from VLT's - oops -add another $23 million ($126 million)
- lost County Revenue from lost Mortgage refinancings - add another $10 million ($136 million)
- Tax Certiorari allocates $60 million; the County discovered that was not enough in 2007. Add another $10 million ($146 million)
- More Police Retirements than allocated for. Add nother $5 million ($151 million)

$57 million down is fairly accurate starting point.
$6 million from a recent court loss - I am fine with that
$40 million to the MTA - valid; when do they have to pay it?
VLT- you are wrong - this was budgeted for 2009
Lost revenue from refinancings/ mortgage activity - I dunno
Tax Certirari - Wrong - The County is only allocatin $40 million in 2008. Your number of $60 million is too high. This one will come back to haunt them.
Police Retirments have money set aside to cover overages.

My guess is I come up with about a $125 million in deficits for 2008 has some validity.

You can add the Nassau Health Care Corp losing 4 million a month so sometime in late '09 early '10 they will be broke again.

RVC - Michael
03-12-2008, 12:03 PM
You can add the Nassau Health Care Corp losing 4 million a month so sometime in late '09 early '10 they will be broke again.

OK - More ammo for the argument. What's next?

How do we persuade the media that this is an important enough issue to warrant more coverage?

ChangeFace
03-12-2008, 12:27 PM
OK - More ammo for the argument. What's next?

How do we persuade the media that this is an important enough issue to warrant more coverage?

The GOP can get press coverage anytime they want. They would do well to 1. put Peter Schmitt in the background. He does not play well on TV even when he says something that's correct. 2. Put Denise Ford or Rich Nicolello in as spokesperson and 3. have something to say other than Suozzi stinks and Nassau is going down the tubes.

A Nassau Legislator
03-12-2008, 04:07 PM
I witnessed the exchange the person is referencing between County Executive Suozzi and the caller. Suozzi was angered by the question. I agree that he never attempted to answer the questions which indicated to me that there is some smoke here and a possible fire.

Suozzi suggested that resident look to independent agencies for valid information from which to form thr opinions from. Suozzi suggested that residents read the recent Editorials highlighting Suozzi's record. My initial thoughts were Suozzi is still reading his press clippings from 2002-2003. Since then it has been about obtaining higher office.

One of the above postings is a copy of an Editorial written by the Newsday Editorial Board and published September 19, 2007 titled "Name this budget: Suozzi's fiscal plan for 2008 relies too much on gimmicks and hope."

AN EXCERPT FROM THE EDITORIAL:
"The wiser route for Suozzi would have been to seek small tax increases in both 2007 and 2008, measures that would have ensured the county's future fiscal health, since he knows what it's like to inherit a fiscal mess, he shouldn't risk leaving one when he moves on"

I have listened to Eric Naughton for whom I have consderable respect for and I am greatly concerned when a resident posseses more accurate information about the 2008 County Budget than the County Executive does. While I do not have an education in Finance, the caller went on to voice concern that the idea of refinancing NIFA debt was but another way to conceal the alleged 2008 Budget deficit of $50 million to over $100 million.

My conclusions:
- Suozzi is dishonest, duplicitous and dectful.
- If the 2008 defict is only $50 million, it has been estimated that there is still around $40 million in Reserve.
- If the critics are correct, and County Executive Suozzi and his Administration are concealing a $100 to $150 million deficit then we are looking at 20% tax increases in 2009.
- It is not out of the range of possibilities for a dishonest Suozzi to attempt to pull a fast one and borrow money to cover these deficits in the guise of a NIFA Refinancing.

Who would know? The Democrats in the Legislature are controlled by Suozzi with Gugerty reporting directly into Suozzi on every little thing that goes on. Diane Yatauro cannot go to the bathroom without notifying Suozzi. The Republican Minority is long in the tooth - everytime they want to criticize Suozzi, he can correctly say what did you do when Gulotta was here and it silences them.

Media such as Newsday and Long Island TV News coverage do not believe these charges because Suozzi is powerful - they do not dare anger him. With both sides of the Legislature bng passive, there is no political due diligence bng performed.

NIFA now exists to provide political protection / political cover to us members of the Nassau County Legislature - that's it! Suozzi has the public and the media believing that NIFA is responsible for approving the budget. That is not true.

We in the Nassau County Legislature approved it and I for one am very concerned that we did.

The caller had more veracity than people are affording him and I believe that is why Suozzi was so upset when we saw hima afterwards.

Standuptall
03-12-2008, 04:38 PM
I witnessed the exchange the person is referencing between County Executive Suozzi and the caller. Suozzi was angered by the question. I agree that he never attempted to answer the questions which indicated to me that there is some smoke here and a possible fire.

Suozzi suggested that resident look to independent agencies for valid information from which to form thr opinions from. Suozzi suggested that residents read the recent Editorials highlighting Suozzi's record. My initial thoughts were Suozzi is still reading his press clippings from 2002-2003. Since then it has been about obtaining higher office.

One of the above postings is a copy of an Editorial written by the Newsday Editorial Board and published September 19, 2007 titled "Name this budget: Suozzi's fiscal plan for 2008 relies too much on gimmicks and hope."

AN EXCERPT FROM THE EDITORIAL:
"The wiser route for Suozzi would have been to seek small tax increases in both 2007 and 2008, measures that would have ensured the county's future fiscal health, since he knows what it's like to inherit a fiscal mess, he shouldn't risk leaving one when he moves on"

I have listened to Eric Naughton for whom I have consderable respect for and I am greatly concerned when a resident posseses more accurate information about the 2008 County Budget than the County Executive does. While I do not have an education in Finance, the caller went on to voice concern that the idea of refinancing NIFA debt was but another way to conceal the alleged 2008 Budget deficit of $50 million to over $100 million.

My conclusions:
- Suozzi is dishonest, duplicitous and dectful.
- If the 2008 defict is only $50 million, it has been estimated that there is still around $40 million in Reserve.
- If the critics are correct, and County Executive Suozzi and his Administration are concealing a $100 to $150 million deficit then we are looking at 20% tax increases in 2009.
- It is not out of the range of possibilities for a dishonest Suozzi to attempt to pull a fast one and borrow money to cover these deficits in the guise of a NIFA Refinancing.

Who would know? The Democrats in the Legislature are controlled by Suozzi with Gugerty reporting directly into Suozzi on every little thing that goes on. Diane Yatauro cannot go to the bathroom without notifying Suozzi. The Republican Minority is long in the tooth - everytime they want to criticize Suozzi, he can correctly say what did you do when Gulotta was here and it silences them.

Media such as Newsday and Long Island TV News coverage do not believe these charges because Suozzi is powerful - they do not dare anger him. With both sides of the Legislature bng passive, there is no political due diligence bng performed.

NIFA now exists to provide political protection / political cover to us members of the Nassau County Legislature - that's it! Suozzi has the public and the media believing that NIFA is responsible for approving the budget. That is not true.

We in the Nassau County Legislature approved it and I for one am very concerned that we did.

The caller had more veracity than people are affording him and I believe that is why Suozzi was so upset when we saw hima afterwards.


If you are really a Nassau Legislator, stand up and do the right thing. Hold your own press conference. Give us YOUR ideas. Someone has to break the deadlock here.

For all his bluster Schmitt does not have the stomach for this fight anymore. He is a smart guy but the WRONG guy to put in front of the people. Suozzi has a glass jaw. He can't take a punch! If you keep the pressure on him he'll crack and start telling residents to go f_____ themselves like he did at Glen Cove City Council meetings. Then people will see the REAL Tom Suozzi. But you can't beat something with nothing and right now there is no there there with the GOP. They have the issues on thr side, just not the intestinal fortitude to carry them out.

One Suspicious Mind
03-13-2008, 10:21 AM
Didn't Suozzi just bailout his hometown of Glen Cove to the tune of $100 million dollars? Look at the pattern, Suozzi dressed up the Sewer Consolidation Plan as an Environmental Priority and as saving money. Many observers knew it would not achieve ther. That did not stop the media from portraying the Sewer Consolidation Plan as such. This is a perfect example of the Slick Suozzi pulling a fast one at the expense of the Nassau County Taxpayers.

Given this recent example of Suozzi abusing Nassau County Government and the Nassau County Legislature DOING ABSOLUTELY NOTHING, I for one do not think it is quite a stretch to imagine Suozzi enriching his alleged financial reputation under the guise of a NIFA Refinancing. I share the same suspicions bng raised here.

The What
03-13-2008, 04:26 PM
I witnessed the exchange the person is referencing between County Executive Suozzi and the caller. Suozzi was angered by the question. I agree that he never attempted to answer the questions which indicated to me that there is some smoke here and a possible fire.

Suozzi suggested that resident look to independent agencies for valid information from which to form thr opinions from. Suozzi suggested that residents read the recent Editorials highlighting Suozzi's record. My initial thoughts were Suozzi is still reading his press clippings from 2002-2003. Since then it has been about obtaining higher office.

One of the above postings is a copy of an Editorial written by the Newsday Editorial Board and published September 19, 2007 titled "Name this budget: Suozzi's fiscal plan for 2008 relies too much on gimmicks and hope."

AN EXCERPT FROM THE EDITORIAL:
"The wiser route for Suozzi would have been to seek small tax increases in both 2007 and 2008, measures that would have ensured the county's future fiscal health, since he knows what it's like to inherit a fiscal mess, he shouldn't risk leaving one when he moves on"

I have listened to Eric Naughton for whom I have consderable respect for and I am greatly concerned when a resident posseses more accurate information about the 2008 County Budget than the County Executive does. While I do not have an education in Finance, the caller went on to voice concern that the idea of refinancing NIFA debt was but another way to conceal the alleged 2008 Budget deficit of $50 million to over $100 million.

My conclusions:
- Suozzi is dishonest, duplicitous and dectful.
- If the 2008 defict is only $50 million, it has been estimated that there is still around $40 million in Reserve.
- If the critics are correct, and County Executive Suozzi and his Administration are concealing a $100 to $150 million deficit then we are looking at 20% tax increases in 2009.
- It is not out of the range of possibilities for a dishonest Suozzi to attempt to pull a fast one and borrow money to cover these deficits in the guise of a NIFA Refinancing.

Who would know? The Democrats in the Legislature are controlled by Suozzi with Gugerty reporting directly into Suozzi on every little thing that goes on. Diane Yatauro cannot go to the bathroom without notifying Suozzi. The Republican Minority is long in the tooth - everytime they want to criticize Suozzi, he can correctly say what did you do when Gulotta was here and it silences them.

Media such as Newsday and Long Island TV News coverage do not believe these charges because Suozzi is powerful - they do not dare anger him. With both sides of the Legislature bng passive, there is no political due diligence bng performed.

NIFA now exists to provide political protection / political cover to us members of the Nassau County Legislature - that's it! Suozzi has the public and the media believing that NIFA is responsible for approving the budget. That is not true.

We in the Nassau County Legislature approved it and I for one am very concerned that we did.

The caller had more veracity than people are affording him and I believe that is why Suozzi was so upset when we saw hima afterwards.

Uhmmmm. Current or former?

Mineola Wind
03-13-2008, 04:38 PM
If you are really a Nassau Legislator, stand up and do the right thing. Hold your own press conference. Give us YOUR ideas. Someone has to break the deadlock here.

For all his bluster Schmitt does not have the stomach for this fight anymore. He is a smart guy but the WRONG guy to put in front of the people. Suozzi has a glass jaw. He can't take a punch! If you keep the pressure on him he'll crack and start telling residents to go f_____ themselves like he did at Glen Cove City Council meetings. Then people will see the REAL Tom Suozzi. But you can't beat something with nothing and right now there is no there there with the GOP. They have the issues on thr side, just not the intestinal fortitude to carry them out.

Some observers found it displeasing that Schmitt was not present the day of the hearing on Sewer Consolidation - some are murmuring that Schmitt was given a benefit in the Environmental Bond Deal to look the other way...leaving his fellow Republicans twisting in the Mineola Wind. Very disturbing!

Mortgage Gal
03-13-2008, 05:00 PM
I witnessed the exchange the person is referencing between County Executive Suozzi and the caller. Suozzi was angered by the question. I agree that he never attempted to answer the questions which indicated to me that there is some smoke here and a possible fire.

Suozzi suggested that resident look to independent agencies for valid information from which to form thr opinions from. Suozzi suggested that residents read the recent Editorials highlighting Suozzi's record. My initial thoughts were Suozzi is still reading his press clippings from 2002-2003. Since then it has been about obtaining higher office.

One of the above postings is a copy of an Editorial written by the Newsday Editorial Board and published September 19, 2007 titled "Name this budget: Suozzi's fiscal plan for 2008 relies too much on gimmicks and hope."

AN EXCERPT FROM THE EDITORIAL:
"The wiser route for Suozzi would have been to seek small tax increases in both 2007 and 2008, measures that would have ensured the county's future fiscal health, since he knows what it's like to inherit a fiscal mess, he shouldn't risk leaving one when he moves on"

I have listened to Eric Naughton for whom I have consderable respect for and I am greatly concerned when a resident posseses more accurate information about the 2008 County Budget than the County Executive does. While I do not have an education in Finance, the caller went on to voice concern that the idea of refinancing NIFA debt was but another way to conceal the alleged 2008 Budget deficit of $50 million to over $100 million.

My conclusions:
- Suozzi is dishonest, duplicitous and dectful.
- If the 2008 defict is only $50 million, it has been estimated that there is still around $40 million in Reserve.
- If the critics are correct, and County Executive Suozzi and his Administration are concealing a $100 to $150 million deficit then we are looking at 20% tax increases in 2009.
- It is not out of the range of possibilities for a dishonest Suozzi to attempt to pull a fast one and borrow money to cover these deficits in the guise of a NIFA Refinancing.

Who would know? The Democrats in the Legislature are controlled by Suozzi with Gugerty reporting directly into Suozzi on every little thing that goes on. Diane Yatauro cannot go to the bathroom without notifying Suozzi. The Republican Minority is long in the tooth - everytime they want to criticize Suozzi, he can correctly say what did you do when Gulotta was here and it silences them.

Media such as Newsday and Long Island TV News coverage do not believe these charges because Suozzi is powerful - they do not dare anger him. With both sides of the Legislature bng passive, there is no political due diligence bng performed.

NIFA now exists to provide political protection / political cover to us members of the Nassau County Legislature - that's it! Suozzi has the public and the media believing that NIFA is responsible for approving the budget. That is not true.

We in the Nassau County Legislature approved it and I for one am very concerned that we did.

The caller had more veracity than people are affording him and I believe that is why Suozzi was so upset when we saw hima afterwards.

Has your suburban County been on a spending binge? Refinance - How about an Equity takeout Refinance now on your existing NIFA debt. Gotta borrow $750 million - hey make it $900 million and who will know. Political cover is expensive but your politically shrewd County Executive has control over the Legislature - who will know if these alleged deficits are rolled up into a Refinancing? Who cares?

Mineola Observer
03-14-2008, 10:33 AM
Has your suburban County been on a spending binge? Refinance - How about an Equity takeout Refinance now on your existing NIFA debt. Gotta borrow $750 million - hey make it $900 million and who will know. Political cover is expensive but your politically shrewd County Executive has control over the Legislature - who will know if these alleged deficits are rolled up into a Refinancing? Who cares?

There is plenty here to explore as another reason Suozzi wants to attempt at refinance NIFA debt is to position himself to seek thr elimination as an oversight board. Then with control of the Nassau County Legislature, Suozzi will be in a perfect position to intimidate Eric Naughton who heads the Office of Legislative Review. Suozzi already has Wtzman in his pocket and is seeking to control Naughton. Gosh, Joye Brown forgot to mention that in yesterday's love column promoting Suozzi's ridiculous run for Governor.

Hey - Joye - pull your head out of your ass - Nassau County taxpayers are still infuriated with Suozzi's run for Governor when he paid over $1 million in "performance bonuses' to Nassau County Employees who worked on his campaign. Holy phucken shit Joye - are you kidding me? Nassau County Taxpayers paid for Suozzi to run for Governor? Like hell they did!

If I am the lawyer for the woman who has filed a whistle blower's lawsuit against Suozzi and the County (Ms. Morganstern?) alleging all Nassau County Employees do is raise political money all day long - I am having a field day with this issue.

If I am a betting man - I would place money that Morganstern will win her multi million dollar lawsuit hands down.

Doogie Gianelli MD
03-14-2008, 10:40 AM
OK - More ammo for the argument. What's next?

How do we persuade the media that this is an important enough issue to warrant more coverage?

How much has the Med Center lost under Suozzi? How much more money has the county county given the med center? 100 mil? 200 mil? This is the deep dark hole they are ALL avoiding. Thr budget DWARFS all the special districts combined!

Newsday Hypocrites
03-14-2008, 11:20 AM
How much has the Med Center lost under Suozzi? How much more money has the county county given the med center? 100 mil? 200 mil? This is the deep dark hole they are ALL avoiding. Thr budget DWARFS all the special districts combined!

Where is Comptroller Wtzman? Where?

Where are the Audits into all the Non-profits?
Where are the audits of the meeting notes (It is rumored there are none)
Where are the Audits of thr suspect financials?

All this cheap rhetoric about Sanitation and Sewer District Consolidation is just a lot of crap; a smokescreen to confuse and obfuscate the public from thr real duties to the taxpayers.

Nassau County will experience serious Financial problems from the lack of even minimal financial oversight. Wtzman has got to go!

Unregistered2211
03-14-2008, 01:07 PM
Every year Schmitt & his cronies complain about the budget, suggest its not balanced and it will be adeficit. Guess what keeps happening every single year. They wind up bng wrong, thr is no deficit. they said this last year, in 06, 05, 04 etc and well no deficit.....

Suozzisgotabrandnewbag
03-14-2008, 01:14 PM
Every year Schmitt & his cronies complain about the budget, suggest its not balanced and it will be adeficit. Guess what keeps happening every single year. They wind up bng wrong, thr is no deficit. they said this last year, in 06, 05, 04 etc and well no deficit.....

That's what happened in Glen Cove too until the bottom dropped out. There are only so many tricks in the Suozzi bag.

Stopped Watch
03-14-2008, 01:38 PM
Every year Schmitt & his cronies complain about the budget, suggest its not balanced and it will be adeficit. Guess what keeps happening every single year. They wind up bng wrong, thr is no deficit. they said this last year, in 06, 05, 04 etc and well no deficit.....

Hey, Tom Suozzi - take it easy.

I imagine you are correct with Schmitt warning on an annual basis of budget deficits and potential shortfalls. This may very well be true.

However, that is but one of the resons contributing to the false complacency that exists in Nassau County today. The Legislature led by the Democrats trusts that Suozzi knows what they are doing. What they fail to realize is that it has been a strong economy producing significant tax surpluses to Nassau County's $1 billion in revenue from Sales Tax that has consistently provided support for Suozzi and Nassau Government.

If you haven't been paying attention - that is about to change. We are heading into one of the most difficult Recessions in the last forty years. You may have to go back to the mid 1970's to find a time where so much economic havoc occurred at the same time. In my opinion, the News media have afforded Suozzi the benefit of the doubt regarding finances because of Schmitt's annual cries. They would be wise to revisit this argument as it has significant merit.

This time it is Suozzi who fails to understand the consequences and is seeking desperately to avoid having to confront the difficult fiscal choices he faces. Suozzi's credibility will take another hit if he has to inform the people of Nassau County that he has to raise taxes to supplement his 2008 budget after bng named School / Property Tax Czar by former Governor Spitzer.

The Democratic Majority in the Nassau County Legislature will be pissed because it will become a campaign issue as the timing would appear to occurr in late 2008 - early 2009 when the decision to raise taxes will be made.

The Democrats in the Nassau County Legislature deserve what they are getting - because they failed to do thr sworn duty to provide fiscal oversight to the management of the County's Budget. Just examine some not all of the questionable financial / political decisions made by County Executive Suozzi:
- $60 million on fixing up Nassau County Government Building - fine
- Increasing Non Civil Service positions on his staff from 193 in 2002 to 435 today at an additional cost of $26 million annually to the Nassau County Taxpayers.
- Nassau County knows they owe the NYS MTA $40 million yet fail to make tactical decisions to address this money that was not budgeted for
- Nassau County knows that Suozzi has used the Surplus County Reserves which had $282 million in 2002 of which $105 million came from NYS Government - to subsidize each annual Operating budget since then. This is how Suozzi can claim annual surpluses each year. The Surplus County Reserves only have $40 million left.
- If the critics are correct and Suozzi is concealing $100 to $150 million deficit than add in the $40 million left in Surplus and you have to address a defict of $110 million.
- In 2002, when Suozzi raised Property Taxes by 19% - it raised $120 million.

2008 Budget is springing more leaks than the S.S.Posdon; ask the following questions:
- How much Tax Revenue did Nassau County recognize in 2006 and 2007 from Mortgage Originations and Refinancings?
- Then ask, as of the last quarter how much did Nassau observe in 2008?
- If we are in a Recession, the Sales Tax Revenue could lose at l 5-10% overall - Nassau County sees most of thr Sales Tax Revenue in the 4th quarter from Holiday / Christmas Sales driving a large amount of the Sales Tax Revenue recognized.
- Ask Legislator Kevan Abrahams about the growing usage of Internet Sales - Abrahams wrote a fine report about this topic yet fails to understand what it means - It means at some point people in Nassau County will begin to shop online exclusively to avoid paying taxes. Thus the sales tax revenue may have peaked last year in 2007.

Diane Yatauro, Kevan Abrahams, most if not all of the Nassau County Legislators are thoughtful and intelligent. However, it has become quite obvious they are working for Suozzi and not the Taxpayers by thr passive Oversight.

I was shocked that not one Legislator corrected the County Executive when Suozzi stated that NIFA signs off and approves Budgets. That is absolutely incorrect. The members of the Nassau County Legislature approve Budgets.
The fact that the Republicans have not hammered Suozzi exemplifies how disinterested and complacent they have become.

WSJ
03-14-2008, 01:57 PM
ECONOMIC FORECASTING SURVEY
Most Economists in Survey
Say Recession Is Here
Poll Shows Sharp Drop
In First-Half Forecasts;
Retail Sales Decline
By PHIL IZZO and SUDEEP REDDY
March 13, 2008; Page A14

Economists in the latest Wall Street Journal forecasting survey are increasingly certain the U.S. has slid into recession, a view rnforced by new data showing a sharp drop in retail sales last month.

"The evidence is now beyond a reasonable doubt," said Scott Anderson of Wells Fargo & Co.

See and download forecasts2 for growth, inflation, housing and more. Plus, views on the housing crisis, predictions for presidential candidates and more. Survey conducted March 7-11.
• Econ Blog: Housing Market Has Further to Fall3
• Washington Wire: Rating Candidates on Nafta, Budget4Thirty-six of 51 respondents, or more than 70%, said in a survey conducted March 7-11 that the economy is in recession.

The Commerce Department said yesterday that retail sales fell 0.6% in February; sales excluding the volatile auto and auto-parts categories fell 0.2%. The declines reflect a sharp slowdown in consumer spending, which accounts for more than 70% of U.S. economic activity, as Americans grapple with high gasoline and food costs and declines in home values and other asset prices.

The survey marked a precipitous shift toward pessimism from the previous survey, conducted five weeks earlier. The economists now expect nonfarm payrolls to grow by an average of just 9,000 jobs a month for the next 12 months -- down from a previously expected 48,500. Twenty economists expect payrolls to shrink outright. On average, the economists predicted the unemployment rate will be 5.5% in December, up from the current 4.8%.

Fueling the gloom: last Friday's employment report, which showed a loss of 63,000 jobs in February, the second consecutive monthly decline. Twenty-nine of 55 respondents said they expect the economy to contract in the current quarter, and 25 expect it to do so in the second.

ABOUT THE SURVEY

The Wall Street Journal surveys a group of 55 economists throughout the year. Broad surveys on more than 10 major economic indicators are conducted every month. Once a year, economists are ranked on how well thr forecasts have fared. For prior installments of the surveys, see: WSJ.com/Economists5.The economists, on average, forecast meager economic growth -- just 0.1% at an annual rate in the current quarter, and 0.4% in the second.

Although the classic definition of recession is two consecutive quarters of declines in the gross domestic product, Stephen Stanley of RBS Greenwich Capital pointed out that the National Bureau of Economic Research, the nonpartisan organization that is the official arbiter of recessions, doesn't always strictly follow that definition. "If you go back to the 2001 recession, there was only one negative GDP quarter, and there might not even be one negative quarter in this recession," he said.

Almost half the economists surveyed said a recession this year could be worse than the 2001 and 1990-91 downturns. Amid the rising concerns, respondents expect more action from policy makers. Some 63% said the use of public money to deal with the housing crisis is now likely or certain, while on average they expect the Federal Reserve to lower the target for its benchmark federal-funds rate to 2% by June from the current 3%.

A WSJ survey of economists reveals that 71% of those surveyed believe Americans are currently in a recession. WSJ's Phil Izzo discusses the findings with Kelsey Hubbard. Fed policy makers meet on Tuesday, and futures markets are fully pricing in at l a 0.5-percentage-point cut in the rate and indicating a 90% probability of a 0.75-point cut. Officials had, before this week, been unconvinced that a 0.75-point cut was needed, given signs that inflation psychology is worsening.

But those views may have been affected by continued upheaval in credit markets, as well as weak retail sales and employment data. Market participants say this would be a risky time to cut rates less than investors expect. The Fed will have to wgh the urgency of addressing the credit crunch against the risk of appearing unconcerned about inflation.

The consumer-price index for February will be released today, and economists surveyed by Dow Jones Newswires expect a 4.5% increase from a year earlier.

Most forecasters expect an economic recovery to begin in the second half of this year, as the government's economic-stimulus package and the interest-rate cuts begin to spur the economy. By the end of the year, they expect inflation to be running at an uncomfortably high 2.7%, raising the question of when the Fed might start raising rates.

Some 84% of economists in the survey said the Fed was too slow to raise interest rates in 2003 and will want to avoid that mistake. Still, "it's going to take some time even under the best of circumstances before the Fed can be comfortable that the economic situation has stabilized," said Bruce Kasman of J.P. Morgan Chase.

The survey suggests the darkening outlook may have made Fed Chairman Ben Bernanke's job less secure, especially with a new president coming on the job in less than a year. The economists gave the Fed chairman just a 59% chance of bng reappointed in 2010. "If a Democrat is elected, he won't be reappointed, and [presumptive Republican presidential nominee John] McCain may opt for another, too," said David Resler of Nomura Securities.

"The problems occurred on his watch," added Ram Bhagavatula of Combinatorics Capital.

February's decline in retail sales, which followed a 0.4% increase in January, raises the likelihood that the overall economy will contract in the first quarter.

Many retailers are bracing for tougher times. Even if the current downturn doesn't yet meet the technical definition of a recession, "it certainly feels like a recession based on consumer sentiment and confidence reaching record lows," Men's Wearhouse Inc. chief executive George Zimmer said earlier this week.

"The average consumer is feeling economic pressure as they experience rising prices in fuel and basic staples, the effects of declining home prices, which for most individuals represent thr single largest asset, not to mention the possibility of foreclosure on thr home," Mr. Zimmer said.

Categories tied to housing took some of the biggest sales hits, but the declines were widespread: Sales at department stores dipped 0.2%, while restaurant sales fell 0.4%.

Consumers are pulling back in part because of a weakening job market. Initial claims for unemployment benefits last week were unchanged at 353,000 from the week before, the Labor Department said yesterday. That suggested employers are slowing thr hiring rather than making big layoffs. Continuing unemployment claims rose 7,000 to 2.84 million for thr fourth straight gain.

Meanwhile, business inventories increased 0.8% in January, suggesting production slowdowns ahead as the economy slows. Import prices rose 0.2% in February from a month earlier and were up 13.6% from the year before, reflecting the weak dollar and rising commodity prices globally.

--Greg Ip contributed to this article.

Write to Phil Izzo at philip.izzo@wsj.com6 and Sudeep Reddy at sudeep.reddy@wsj.com7

Just think...for yourself
03-14-2008, 02:10 PM
Just attempt to think for yourself.

The last six years from 2002 through 2008 have been years where we observed a strong economy and spent more. Nassau County is no exception.

The debate is not about whether Legislative Minority Leader, Peter Schmitt or Nassau County Executive Thomas R. Suozzi can outwit one another in a mindnumbing exercise of ego.

The issue is simple - The U.S.A. is now facing several economic threats all at the same time:
- increased Commodity Prices - best example OIL - up 15% since Jan 1, 2008
Up over 60% in the last 16 months. My prediction - Senior Citizens will be soon unable to afford to drive.
- Collapse of the once roaring Housing Market - Houses are declining in value but taxes are remianing constant or even increasing.
- A return to tighter Credit conditions which are impacting items such as Student Loans to Home Equity Line of Credit that many people can no longer access.
- New York City is the financial Capital of the World. Suburban Nassau County lives just on the outskirt with many people earning a good living in Wall Street / Finance. Wall Street Global Financial Services Frims are preparing to layoff tens of thousands of people as these conditions persist.
- How many ancillary businesses will be impacted?

NIFA is controlled by Suozzi through his family's political influence. NIFA will not confront Suozzi. The Legislature cannot or will not confront Suozzi. The Media are giving him a pass too because he influences them as well.

Nassau County Government informing the residents of Budget shortfalls in September - October 2008 will be the equivalent of closing the barn door ater the horse got out.

Complacency is pervasive in Nassau County Government.

I can only conclude that the folly of Nassau County is to believe the Recession will happen everywhere else except here. It is so ridiculous to frame this discussion between Schmitt and Suozzi! I do not give a phucken shit about whatever ther man says!

Food 4 Thought
03-14-2008, 04:30 PM
Harvard's Feldstn Says U.S. Economy in Recession (Update1)
By Matthew Lsing and Steve Matthews

March 14 (Bloomberg) -- Harvard University economist Martin Feldstn, a member of the group that dates business cycles in the U.S., said the nation has entered a recession that could be the worst since World War II.

``I believe the U.S. economy is now in recession,'' Feldstn, president of the National Bureau of Economic Research, told the Futures Industry Association conference in Boca Raton, Florida. ``Could this become the worst recession we have seen in the post-war period? I think the answer is yes. I would emphasize the word `could.' ''

Feldstn's remarks represent the first time that a member of the NBER's business-cycle dating committee has publicly described the current downturn as a recession. The economy may not respond quickly to Federal Reserve interest-rate cuts, and a package of tax rebates and investment incentives will offer only a temporary boost, he said.

Investors today raised thr bets that the Fed will slash interest rates by a full percentage point next week after the central bank and JPMorgan Chase & Co. agreed to provide emergency funding to Bear Stearns Cos., the fifth-largest U.S. securities firm.

Bush administration officials including Treasury Secretary Henry Paulson have avoided saying the economy is in a recession.

``We have slowed down very significantly,'' Paulson said in a National Public Radio interview yesterday. ``I'm not getting into'' whether it is a recession.

The economy expanded 0.6 percent at an annualized pace last quarter, and economists surveyed by Bloomberg News this month predicted the pace will slow to 0.1 percent in January to March.

Job Losses

The U.S. unexpectedly lost jobs in February for the second consecutive month, a government report showed on March 7. A private report today showed consumer sentiment this month sank to a 16-year low.

``By almost every measure the U.S. economy is moving sideways or slightly down for the last few months,'' said Feldstn, who in January put the odds of a recession at more than 50 percent. ``I think this recession could be substantially more severe'' than the past several downturns.

The collapse of the market for subprime loans, those given to borrowers with the weakest credit, has cost global financial companies $195 billion in asset writedowns and credit losses since the beginning of 2007. The losses have caused liquidity in financial markets to dry up.

Financial markets are exhibiting a pervasive ``unwillingness to trade'' and are suffering a ``loss of confidence'' about valuations of assets, said Feldstn, who is retiring as NBER president this year.

Rate-Cut Odds

Traders are betting there's a 50 percent chance the Federal Open Market Committee will cut its benchmark rate by a percentage point to 2 percent on March 18, according to trading in federal funds futures. That's up from a zero probability yesterday. The central bank has cut rates from 5.25 percent in August.

``Monetary policy is not likely to have the favorable traction in this slowdown that it has had in the past, in part because of what is happening in housing and in credit markets,'' Feldstn said.

A fiscal-stimulus package will help growth in the second half of the year, though that is ``not very likely to do more than cause a pause'' in the downturn, he said.

Revised Data

Committee members say any formal determination of a recession may still be months away, in part because economic data is frequently revised.

Feldstn said that while some data may be updated, it is ``very likely'' that reports will confirm a recession this year.

``Given the retrospective nature of our process, no determination of a peak in activity is likely in the next few months,'' Robert Hall, a Stanford University economist who leads the NBER's business-cycle dating committee, said March 7.

``There is a good chance that when all the data are in they will show that we entered a recession in the first months of 2008,'' Harvard University economics professor Jeffrey Frankel, another member of the committee, said in an interview on March 12.

To contact the reporter on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net

Last Updated: March 14, 2008 15:08 EDT

Captain OBvious
03-14-2008, 11:46 PM
Ain't it a coincidence:

Some dude gets on News 12 LIVE from RVC ranting about the Suozzi and then posts appear here that just so happen to have LETTERS to Noozday from RVC equally critical of the Suozzmster!

Wow what are the odds of that??

Unregistered29214256
03-15-2008, 01:26 AM
hmm...spitzer #9...garden city hotel roughly 5min from mineola..yep hes #10

Unregisteredabababababa
03-15-2008, 09:06 AM
Ain't it a coincidence:

Some dude gets on News 12 LIVE from RVC ranting about the Suozzi and then posts appear here that just so happen to have LETTERS to Noozday from RVC equally critical of the Suozzmster!

Wow what are the odds of that??

Live by the sword, die by the sword.

kent
03-15-2008, 09:37 AM
please send this guy packing! A fraud of the first order!

Barbara - Glen Cove
03-17-2008, 10:06 AM
People in Glen Cove are down on Suozzi the Mayor as much as they are down on Suozzi the County Executive! The Suozzi's are dishonest and self-important and I agree with the other posters - Suozzi has got to go!

Mineola Observer
03-17-2008, 12:43 PM
Live by the sword, die by the sword.

It is evident by the responses Suozzi provided on News 12 that he is bng evasive. TV and the Media works both ways - it cans serve to promote your agenda as it has in Suozzi's past history or it can serve to promote complete transparency as in this case where Suozzi was less than candid on important Budget matters as well as the potential NIFA Refinancing. Suozzi is coddled by many and has created his own alternative universe where if he states it, then it is so. Everyday this charade continues, the numbers metasticize and will only become a more embarrassing issue for Suozzi politically. Nassau's finances will be sorely tested as we learn more about our weakened economy.

Am I the only one to notice the comparison between Suozzi and Bear Stearns CEO Alan . Last week amid a flurry of unsubstantiated rumors, publicly denied that Bear Stearns had liquidity problems. Yet despite a long history of success, Bear Stearns equity / stock price closed at $57 on Thursday and closed at $32 on Friday after trading as low as $26. Now for purposes of a U.S. Fed Bailout, Bear Stearns is purchased for $2. It is estimated that the 14,000 employees who are expected to lose thr jobs within the next two weeks owned more than 30% of the equity, many in 401k's.

The taxpayers are the shareholders of Nassau County. Our homes represent value that is derived from many attributes but include local School and Property taxes.

Everyone who reads these blogs knows that Suozzi could make common sense moves to reduce the Nassau County Budget without resorting to tax hikes yet no one will hold his feet to the fire.

Doogie Gianelli, DM
03-17-2008, 12:59 PM
The BIGGEST special district on LI is the Nassau Health Care Corp (an authority is essentially just a special district by another name).

Its budget is 500 million dollars a year, has lost or has been subsidized to the tune of over 100 - 200 million dollars SINCE Suozzi took office is STILL losing 4 million a month and is run by VERY highly paid Suozzi hacks who are BOOSTING thr STATE pensions THROUGH THE ROOF.

I mean, what the heck! Where are the stories on this mess, WHICH ALMOST NO NASSAU residents use!