Paterson: State Deficit Up $1.4B Over Last 90 Days

Governor Says Damage On Wall Street 'Infecting' State
NEW YORK (CBS) ― New York Governor David Paterson says the New York
state budget deficit has gone up $1.4 billion in the last 90 days. The
governor delivered the troubling economic news during a live broadcast
message shortly after 5 p.m. Tuesday.
“Our state now faces increasingly harsh economic times. When I travel
across the state, I see communities suffering. Everywhere I go I see
people losing their jobs and their homes,” he said. “My message to the
Legislature is that next year's budget process starts now.
Paterson also said the budget deficit is estimated to grow 22 percent
over the next three years and called for a special legislative session
on Aug. 19.
“The damage on Wall Street is infecting all of our communities and its
effects on New York state's finances are devastating,” he said.”It is
time for New York and other government to cut up our credit cards. The
era of buy now and pay later and later is over. The faster we address
this crisis, the faster and stronger we will emerge from it.”
In June, the governor stated under the current $122 billion budget
there would be a $5 billion deficit. Now the situation has gotten
considerably worse.
href="http://wcbstv.com/cbs2crew/david.paterson.budget.2.782422.html">Original
Source

No related posts.