Results tagged “nystateeconomy”

The Daily News draws attention to Governor David Paterson's trip to the Caribbean next week. The agenda: On 11/5, he flies to St. Maarten for the Caribbean Multi-National Business Conference, where he is delivering the keynote on on 11/7; on 11/8, it's Puerto Rico for conference sponsored by PR's Puerto Rican/Hispanic Task force before coming back on 11/10. While Paterson's aides say he will talk with "Caribbean leaders about ways to improve trade," Assembly minority leader James Tedisco clucked, "I think the economic well-being of New York State might be more important." At any rate, Paterson is feeling proud of himself for warning abut the economy since the spring. He said, "When I asked the Legislature to come back and give me more money to try to tide us over to the next fiscal year, I was referred to in print as 'Chicken Little,' 'someone who says the sky is falling,' 'misestimating the revenues,' 'an alarmist.'"

After repeated warnings about the state's economy and financial status, today Governor Paterson proposed another $1 billion in state spending cuts this year, and another $1.6 billion in cuts next year. Per The Politicker, "the cuts include $505 million to Medicaid, and $132 million that would be saved by postponing the implementation of legislators' programs" and cutting member items by 50% (for a savings of $100 million). Paterson wants to reduce the looming budget deficit and said, "I am confident that that the legislature will act given all the indications that we are headed for even greater problems than we have now.” Should be an interesting summer session!