The state government is facing more red ink than originally anticipated, which will make it the second, third or perhaps fourth time the state officials have underestimated the deficit. The budget is just like a good Timex it keeps on ticking, like a bomb.
For the gift the keeps on giving, the oringinal amount the Governor wanted to cut was $600 million and only reached $400 million, then it was predicted the deficit would reach $1 billion, then $1.2 billion and ta da, now it is $2 billion according to the Governor.
This comment by the Governor signals the major portions of the budget, school aid and health care cost, need to be cut. “Obviously, we are going to have to look at our greatest spending areas
and try to reduce them,” Paterson said according to the Bloomberg wire
All of this because our state government lives too close to the edge, spends too much and has no ability to embrace a economic downturn. We need people in Albany who understand budgets and finances.