Paterson: More Budget Cuts May Be Necessary

Speaking on Fox Business News this morning, David Paterson said that in response to the Wall Street collapse, lawmakers may have to cut more from the state budget.

Noting he brought the legislature back to Albany to do that once already, Paterson said, “We may just have to come back again. We may have to cut spending and we may have to go into areas we never thought we would because we’re in an unprecedented time in our financial history. This is almost like the financial reorganization in the ‘30s. It‘s actually that serious.”

Which is different than Michael Bloomberg’s message to the public yesterday. "We cannot balance the budget just by cutting more," the mayor said.

Paterson: More Budget Cuts May Be Necessary