10% Off

Governor David Paterson is attempting to do something that has not been done since Hugh Carey put an end to the “days of wine and roses.” Paterson is preparing a state budget proposal that will cut spending by 10 percent.

George Pataki proposed the occasional state budget cut, but once the Legislature got involved the best he could manage was 0 percent spending growth in 1997. Should Paterson succeed in actually reducing state spending he will do something that has not been done in decades.

It is hard to imagine real cuts that reduce the total level of spending, especially from Paterson whose own record as a legislator shows him to be no fiscal prude, and big battles will have to won in the legislature. But, as Manhattan Institute Senior Fellow, and NYSHEI Annual Meeting Speaker, E.J. McMahon points out, “it is a good start.”

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