Governor: NY Deficit Balloons to $8.2B

Wednesday, February 03, 2010

Gov. David Paterson says New York's deficit has grown to $8.2 billion, and he says he’ll present lawmakers with new plans to balance the budget next week.

Paterson says a larger than expected decline in Wall Street earnings and higher than anticipated Medicaid costs contributed to the new deficit. Just before the governor made his announcement the State Comptroller released a detailed analysis of the budget proposal. Comptroller Tom DiNapoli says the governor's revenue projections were unrealistic.

"We've been warning for a number of months now that the budget has been built on unrealistic projections going back to the budget process of last April," DiNapoli says.

And DiNapoli says as the legislature crafts its spending plan, lawmakers can't rely on a miraculous uptick in the economy to bail the state out.

More in:

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.


Latest Newscast




WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public


Supported by