FOR RELEASE:

Statement From State Comptroller Thomas P. DiNapoli
Regarding New York State's Mid-Year Financial Plan

“New York State is facing staggering budget shortfalls. State revenues are dropping off and the markets’ erratic swings continue. The economic turmoil is driving New York into a very deep budget hole. And our past use of fiscal gimmicks has made the state’s fiscal situation even worse.”

“The consequences of the fiscal crisis haven’t fully played out yet. We need to assess what we can afford, and make sure we don’t keep spending money we don’t have.”

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