CityRoom reports that Governor David Paterson said that there's a "$1.2 billion hole in this year's state budget," due to the faltering economy. Paterson will now work to submit a budget in December, instead of next March, and he said, "There’s no way to sugarcoat it. It has become clear over the last 24 hours, according to Warren Buffett, that the United States economy can be compared to a great athlete who suffered a stroke.” He will also call another emergency session of the Legislature for November (he also called one in August). And Paterson said it was a "financial hit" that Wells Fargo is taking over Wachovia, instead of NY-based Citigroup.
More Bad Budget News from Paterson
Recent in News
Featured in News
If finalized, the maps could lead to high-profile primaries among veteran lawmakers.
Read More In: