New York Demographics and the Economy Term Paper

New York Demographics and the Economy - Term Paper Example In coming years, the population is set to increase at a rate of 1-1.5% that can be a source of worry for the government. It was further found that 51.5% of the total population of the state are female and the remaining 48.5% are male. 53% of the total population identify themselves as Caucasian, 18% as Hispanic, 8% as Asians, and remaining as native individuals. The health status of New York State operates a state-based marketplace that is known as the NY State of Health. It is designed to help and support people to shop and enroll for health insurance coverage along with comparing insurance coverage and costs. The marketplace also helps people to check their eligibility for healthcare programs such as Medicaid. The marketplace helps people to know about the financial assistance that plays an important role in availing relevant medical and healthcare services. 2The state seems to be expanding its medical and healthcare coverage for low-income adults in order to enhance their wellbeing. Fiscal capacity of a state can be defined as the ability of a governmental jurisdiction to transform economic activities within its geographical boundaries into the public spending. The idea is to raise revenue along with keeping a transparent approach in terms of presenting data and information to the public. 3 Thus, the economic capacity of states is based on taking into the account the income produced, income received from the residents, and total property wealth along with relevant expenses on the public needs and demands. Based on the State Health Facts, it was found that the state fiscal capacity for the year 2013 fell short by $2,000 million and that was around the total shortfall of 3.4%. This was mainly because of the expenses that affected the total earnings and thus the shortfall.