Governor Paterson calls for immediate action on budget deficit
ALBANY, N.Y. (WKTV) - Governor Paterson is putting pressure on lawmakers to reach an agreement on the deficit reduction plan.
Paterson says legislative leaders still fail to grasp the consequences of not addressing the $3.2 billion deficit immediately . Paterson says that Moody's Investors Service, a company that ranks credit worthiness, has released a report saying the State is in peril of seeing it's current stable credit rating downgraded as cash reserves run low in the weeks and months ahead. That possibility hinges not only on the immediate cash shortfall, but also on the State's ability to realize recurring savings from spending cuts. |
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