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 FOR RELEASE:

Immediately
October 3, 2008

 

Statement From State Comptroller Thomas P. DiNapoli

On Monday, I said the preliminary September revenue numbers are a warning bell for New York. Governor Paterson, Senate Majority Leader Skelos, Assembly Speaker Silver, Senate Minority Leader Smith and Assembly Minority Leader Tedisco have made it clear that New York must heed that warning.

Every dime counts in a crisis, and we’ll have to manage state spending and monitor revenues very carefully in the coming months.

The Governor and the Legislature must work together as we navigate this period of fiscal instability. The Governor’s call for the Legislature to return to Albany in November makes good sense. We’ll have a clearer picture of how hard New York has been hit by the volatility on Wall Street, and we’ll understand the parameters of the fiscal problem New York is confronting.

The November 18 session will enable us to use the Quick Start budget process to begin to address this year’s budget problems. More importantly, it will start us on the road toward solving the very difficult challenges we’ll face in next year’s budget.

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