State announces new budget gap of $2.1 billion
Written by Written by Rob Lillpopp on July 31, 2009 – 5:08 am

Cara Matthews reports on LoHud.com - “New York has an estimated $2.1 billion gap in this year’s budget, a larger-than-expected gap that will force Gov. David Paterson and lawmakers to reopen the state’s spending plan in the fall.

The figure, announced by Paterson and state officials, is based on operating results through the first three months of the fiscal year, which began April 1, and economic projections for a continued weak economy.

The problems will only get worse in future years: The deficit will grow to $4.6 billion in 2010-11 and $18.2 billion in 2012-13, according to a report from the state Division of Budget. The cumulative.”

To read the rest of Cara’s story click here.

Posted in  

Leave a Reply

You must be logged in to post a comment.

If you don't have an account, please register.