FOR RELEASE:

New York State Comptroller DiNapoli Statement on Ravitch-Volcker Fiscal Report

The findings in this report should come as no surprise here in New York.

My office has warned against the use of budget shortcuts and cautioned that shortfalls at the state and local level may continue to erode essential services.

While New York has begun to address its longstanding budget challenges, significant work remains if we are to achieve truly lasting solutions.

This report should help focus public attention on issues that require a broad and well-informed discussion. Richard Ravitch and Paul Volcker should be commended for bringing the severity of this crisis to the fore.