New York Considers "Five-Year Plan" To Save Itself From Debt Doom


Lieutenant Governor Richard Ravitch (not pictured) has called on New York to start setting five year fiscal plans to get the state back in order, according to his proposals released today.

Ravitch says that because a “universal human preference for short-term expedients” exists, its necessary to establish these long term planning rules to get New York back in the black.

The plan would be submitted along with the governor’s budget on a yearly basis and be overseen by an independent review panel. If the legislature and governor could not come to agreement on the budget, the governor would have the right to make cuts to balance the budget, according to the five-year guidelines.

Remember, all this planning is to cut spending, not increase it.

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