When David Paterson gives his live televised speech tomorrow about the state’s budget, Democratic State Senator Diane Savino predicts he “is going to say we’ve run out of monopoly money.”
She thinks Paterson is "trying to make a bold public statement: ‘Pay attention, this is not going to go away. We’re not going to borrow our way out of it. And you all can’t go around campaigning for office pretending this is not a crisis.’"
How do you campaign for office in a financial crisis?
Savino, co-chair of the Democratic State Senate Campaign Committee, said it’s easy.
“You point to twenty years, or twenty-four years of bad budget policy and you point to the fact that you had leaders in place who allowed the state to get this position,” she said.
Savino said Paterson’s dire warning to New Yorkers about an economic crisis like the one that nearly bankrupted the city in the 1970’s is not a surprise.
“We knew this was going to happen,” Savino said. “The decision to do the budget close to on time was done for political reasons because we had just been through a crisis, we had a new governor, we wanted the world to see government was working again.
"And at the same time, we were trying to get in front of the April 17 revenue projections because people anticipated they were going to be worse [than the previous projections] and the numbers we were working with might be less than the numbers were working with the day before.”