Empire Center: NY spending $15.6M an hour

By the time you read this, New York will have spent about $259,703.

That’s according to the Empire Center for New York State Policy’s “Spend-O-Meter.” The Empire Center said the meter is calibrated to the state Division of Budget’s estimated $136.5 billion spending plan for fiscal year 2010-11

According to the meter, New York spends:

• $4,328 a second

• $259,703 a minute

• $15,582,192 an hour

• $373,972,603 a day

•$2,625,000,000 a week.

• $10,983,333,333 a month

At the time of this writing, $37.209 billion and change had been spent so far this fiscal year.

“Under this year’s budget, our state government will spend more every hour than 200 typical New York families earn in a year,” said E.J. McMahon, the center’s director. “The Spend-O-Meter continues to spin at a faster rate every year, even though our economy is crashing.”

The center has had the meter for several years.

"It's certainly gotten bigger and faster," said Lise Bang-Jensen, a senior policy analyst at Empire Center. "The Spend-O-Meter's running at a much faster pace because we're spending more money more quickly. As we're talking, we're spending tens of thousands of dollars. Probably by the end of the conversation it will be much more—millions."

The meter is similar to the national debt meter on display in New York City.

"The hope is to raise people's attention to how much money New York state is spending," Bang-Jensen said. "People have commented that they like it. They like it but they hate it."

To see the Spend-O-Meter, click here.

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