Paterson Rejects Albany Half-Loaf Budget Cuts, Says "The State is Going Bankrupt"

Governor Paterson wanted the endless Albany special sessions to produce $5 billion in budget cuts over the next year and a half. The legislators said: How about $2.9 billion? After some ominous rumblings ("Governor Paterson had enough and will not wait any longer"), it now appears there is no deal. Senate Minority Leader Dean Skelos announced on a talk radio show that "there was a three-way agreement last night which has since been broken by the governor," reports Capitol Confidential. Skelos and his new friend, Democratic leader John Sampson, extended their smaller-than-reuqested olive branch, and it was rebuffed...

Paterson insists money will soon stop flowing from Albany to municipalities, schools and hospitals, which he claims is necessary to keep the state government afloat. "The state is about to go bankrupt," he said on a radio show this morning. "You can't spend money you don't have."

We're getting into Perils of Pauline territory here. This is really going to test Albany's ability to postpone major decisions. Are our elected representatives up to it?

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