"Governor Cuomo’s budget office broke the bad news recently. The budget deficit for the current fiscal year had grown to $350 million dollars, and the projected gap for the new fiscal year would be a $3.5 billion dollar hole, if spending were to take place as planned.
At first, the governor said he preferred to address the budget deficits as part of larger goals, like dealing with the general economic malaise and trying to create more jobs to generate economic activity, which could bring more revenue to the state.
But, as economic trends continue to worsen, the governor admits that deficit closing steps need to be taken soon.
“The numbers are collapsing,” Cuomo said earlier this week"..........READ MORE
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