Paterson Thinks the Budget Deficit Will Grow by $3 Billion

ALBANY—David Paterson said he is anticipating the state’s current budget will fall out of balance by $3 billion this fiscal year, adding to an already projected $2.5 billion deficit that must be bridged by April 1 of next year.
It’s unclear whether Paterson and legislative leaders–who stood beside him at a bill signing ceremony just now–will address the shortfall before next year’s deadline. Paterson said he is planning on closing a roughly $6 billion shortfall by then.
“I took the amount of the budget overflow from 2008-2009,” he said “which was about $3 billion total, and added it onto next year’s budget deficit to give myself about $5.

Paterson Thinks the Budget Deficit Will Grow by $3 Billion