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NY Budget "Slashes services, Raises fees"

By Anonymous

New York has the earliest start to the new fiscal year, and other states will soon follow, see: Illinois: "state of insolvency"

From CNNMoney: New York budget plan a sign of things to come for the states (ht energyecon)

New York's governor unveiled a painful budget plan Tuesday that slashes services, raises fees and implements some creative actions to close a yawning $7.4 billion fiscal gap.
...
"There are no more easy answers. We cannot keep spending money that we do not have," Paterson said in a written statement.
...
The state's woes are a bellwether of what others around the nation are facing. New York's fiscal year starts in April, the earliest of any state.

Full post as published by Calculated Risk on January 19, 2010 (boomark / email).