No Deal Yet on NYS Deficit Plan

Governor Paterson and state legislative leaders are talking, but they still have no agreement on how to close the state’s more than $3-billion budget deficit. Karen DeWitt reports from Albany.

REPORTER: Following a private meeting with legislative leaders, Governor Paterson said the only progress he could report is that all sides now seem to agree with the governor that a fiscal emergency is at hand and that the state as just weeks to go before it faces a cash crunch.

PATERSON: This really is a deficit. There really is a short fall of cash in December. There really is an urgency to the situation.

REPORTER: Senate leaders would not discuss details of proposals being considered to close the deficit, but said that they were hopeful of progress. Assembly Speaker Sheldon Silver says everything is still on the table including mid-year school aid cuts. In Albany, I'm Karen Dewitt.