One year after electing a Tea Party candidate, one of the wealthiest counties in America is broke.
MINEOLA, N.Y. — Facing a huge budget deficit when he took office in January, Nassau County Executive Edward P. Mangano did not impose a hiring freeze. He did not stop borrowing to subsidize some of the richest school districts in the country. He did not eliminate the Police Department’s beloved mounted unit.
Instead, Mr. Mangano, a Republican who won one of the first upsets of the Tea Party era, did what he had promised: He cut taxes, adding $40 million to the county’s deficit, which has since reached nearly $350 million.
Now, with its bonds suddenly downgraded and a state oversight agency preparing to seize its checkbook and credit cards, Nassau is on the verge of a full-fledged fiscal crisis.
Okay, so Nassau already had some problems, and the whole county isn’t super rich, but seriously. How’s that borrow-and-spend trickle-down economics working out for you guys?