Gov. Paterson publicly addressed the state of New York's budget and described it as "too big and too bloated." Belt tightening is the prescribed solution according to the Governor, with state spending to be cut by 5-10% in the latest fiscal year. That is a pretty dramatic reduction, but Paterson was quick to reassure that it was equally important that the state not raise taxes either, noting that many residents were decamping to lower-tax states like Pennsylvania and North Carolina, which were also more affordable.
The Governor's belt-tightening plan sounds like it will be a painless one. Per the Sun, "Mr. Paterson said that future budget cuts would not come at the expense of New Yorkers who need services, middle class residents, or the state’s millionaires." Who, exactly, this leaves remaining to bear the brunt of any belt tightening remains unclear.
The Daily News reminds that there's no good budget cut that can't wait until next year, however. The proposed budget in its current form will boost state spending by 4%. Paterson also said that he would be speaking with legislators "eyeball to eyeball" regarding the budget crisis. The current fiscal year's budget is already days overdue.
