Yesterday, Lieutenant Governor Richard Ravitch unveiled his NY State fiscal plan, which includes limited borrowing, a change in accounting practices, and creating a board that would review the budget on a quarterly basis. While some lawmakers are unhappy with the ideas proposed, given that NY State is facing a $9 billion deficit—and another $15 billion gap next year—they seem resigned to agree to it.
State Senator Diane Savino (D-Staten Island) told the NY Times, "Insanity is doing the same thing over and over again and expecting a different result. If we continue to handle the state budget the way we are, we’re going to be revisiting this, doing this budget dance every year — where the sky will fall, and the children will die, and you know, the special interest groups will always think that we can’t possibly do it," while Assemblyman Keith Wright (D-Manhattan) said, "Let’s go. I ain’t heard nothing else."
Mayor Bloomberg said yesterday that the plan "doesn't pass the laugh test," but now his deputy mayor Ed Skyler notes the mayor didn't slam all the plan...just some of it.
The Observer's Eliot Brown breaks down the plan, "[With this plan, Ravitch] offers the legislators the ability to get out of their responsibility to balance this year's budget, and in exchange they must give up certain budgetary powers and controls that they otherwise would never be willing to cede."
