"With the state facing significant budget deficits and a struggling economy, New Yorkers deserve a frank and honest discussion about the need for greater fiscal responsibility in State government," Paterson said. "As we work to confront this crisis, I will continue to take my message of fiscal responsibility directly to the people."
As a result of recent unprecedented turmoil on Wall Street - a sector that accounts for 20 percent of tax revenues - the state must close a budget shortfall of at least $1.5 billion in the current fiscal year and a deficit of $12.5 billion in 2009-10. Over the next four years, New York faces a projected cumulative budget gap of $47 billion - the largest in state history.
Paterson says the Web site has several features that will help engage New Yorkers in a discussion about our government's spending priorities. They include:
To further the public dialogue on the state's fiscal crisis and hear directly from concerned New Yorkers, Paterson will host a town hall meeting at the Onondaga Civic Center in Syracuse on November 11. The meeting will begin at 2 p.m. and will be both moderated and taped by WCNY-TV 24. The public is invited to attend and participate in the taping.
Paterson has called for a special session of the Legislature to convene on November 18 to address the state's $1.5 billion current-year shortfall. Additionally, he will submit his 2009-10 Executive Budget more than one month early, on December 16, 2008, to get a head start on the process of aggressively confronting the State's substantial future deficits.
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