As the NYS budget deficit continues to grow, Governor David Paterson says he will propose painful spending cuts today.
State lawmakers yesterday refused to come up with their own ideas for cuts.
Paterson is expected to unveil $2.5 billion worth of cuts in an effort to keep the state from running out of money. Most of the cuts are expected to come from the health and education sectors.
New York State Comptroller Thomas DiNapoli issued a report yesterday predicting the deficit could reach $4.1 billion by year’s end — $600 million more than the governor’s recent estimate.
DiNapoli says if nothing is done by the governor and state lawmakers, the deficit could reach $9 billion by next year.
Paterson has asked state Legislators to come up with a plan to cut more than $2 billion in cuts. But state leaders ignored yesterday’s deadline for proposals.
Paterson has already slashed half a billion dollars from the budgets at executive branch agencies.