By Eileen Buckley
http://stream.publicbroadcasting.net/production/mp3/wbfo/local-wbfo-781378.mp3
Buffalo, NY – Governor David Paterson says he will be releasing a mid-year forecast on the state's financial troubles Tuesday. While appearing in Buffalo Monday, Paterson warned that the update will be "dismal" and "unfortunate".
Governor Paterson says this year's budget deficit is nearly a $1.5 billion. He says drastic action will be needed to curb the growing financial crisis. Paterson will be releasing exact deficit numbers Tuesday. With the recent losses on Wall Street, New York's fiscal crisis is increasing. 20% of the State's revenues come from Wall Street taxes. The Governor says the State could be in more trouble in the next couple of months.
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