Democrat leaders estimate that as much as 60 percent of the budget has been passed, yet only about one billion dollars in spending has been cut, leaving little room for additional cuts to close the $9.5 billion state budget deficit.
At the leaders meeting yesterday, I warned Governor Paterson, Senator Sampson and Speaker Silver that they are headed towards a budget that relies on more taxes, more fees, more borrowing and more gimmicks to close the budget gap.
If the Governor sticks to the comments he made this morning that he would favor additional taxes but would veto borrowing, it’s makes it even more clear that taxpayers should hold onto their wallets because the Democrats are ready to hit them up for more money.
Last year Democrats approved a disastrous budget that increased taxes by $2400 a year for a family of four. They increased state spending by $13 billion, increased taxes by $8.5 billion and passed a devastating $1.5 billion payroll tax on downstate New Yorkers; all leading to the massive deficit the state faces today. ####
Posted by Dean G. Skelos on Thursday, June 17th, 2010
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