When Andrew Cuomo becomes Governor Saturday, he faces some huge challenges, including a $10 billion dollar deficit.
Cuomo already faces a formidable challenge of closing the multi billion dollar budget gap, but he’s upped the ante by promising to also freeze spending and taxes.
The new governor will not be bailed out by an improving economy, as has been the case in the past. Experts, including Governor David Paterson’s budget director Robert Megna, says Cuomo will have to make some very hard decisions, perhaps even eliminating some government services altogether.
“There are certain things it’s not going to be able to do anymore the way it’s been done in the past,” said Megna. “The numbers just don’t allow it.”
Megna says budget makers have already made deep cuts. The state raised taxes on the rich. And the past two state budgets were cushioned by billions of dollars in federal stimulus funds, which are unlikely to be renewed….
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