New York’s defiant Governor Paterson starkly laid out the stakes for the state, as it seeks to solve its budgetary woes.Crain’s:
During a town hall meeting at Brooklyn Borough Hall, Mr. Paterson made scant reference to his precarious political position during an hourlong question-and-answer session before a largely friendly audience that greeted him with a standing ovation. He instead focused on the state’s beleaguered budget, going so far as to predict that New York could fall into a depression if drastic steps to control spending were not taken soon.
“The reality is that this is where New York state can move this year if we don’t act, and act now,” he said. “What I came here to tell you today is that we are crossing that Rubicon between recession and something else far worse, if my colleagues in the legislature and I can’t close a $9.2 billion deficit.”
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