New York State's dire budget situation gets the front page treatment from the NY Times today. And the Times sounds the alarm bells and points a finger in the direction of a certain state body:

"Without a budget deal, New York will be left with just $36 million in the bank by the end of December, according to current projections. And the money will last that long, officials say, only if the state chooses to fully exhaust its emergency reserves by tapping several billion dollars’ worth of temporary loans from its rainy-day fund and short-term investments.

For weeks, Gov. David A. Paterson has invoked the shrinking amount of available cash in an effort to provoke the Legislature to deal with the state’s $3.2 billion budget deficit. So far, the specter of such dire fiscal outcomes has been greeted with what amount to legislative shrugs, chiefly in the recalcitrant State Senate."


The Times also points out, "The Paterson administration argues that the state must begin to reckon with severe future deficits, and this view appears to have the support of Assembly Speaker Sheldon Silver. Senators prefer to take temporary measures and push off the day of reckoning as long as possible."

Paterson has proposed $3 billion in cuts, with much of them focused on education and Medicaid, cuts that the State Senate opposes. Yesterday, the Daily News notes how Paterson remained firm on needing to cut the budget, saying, "Some of them have said they don't want me to do their job. Neither do I. Then do your job yourself and let's not give me phony remedies." However, State Senator Ruben Diaz Sr. said, "I am not voting for it no matter how much he yells. He knows that we are not going to support his cuts. So he is trying to act like a macho man."