Metro

Shel says Gov’s cash cutoff OK

Assembly Speaker Sheldon Silver yesterday gave a shot in the arm to Gov. Paterson’s move to withhold $750 million in local aid, saying the governor and his budget director can “manage cash as they see fit.”

In a key show of support, Silver said, “It is the job of the budget director, through the governor, to manage cash as they see fit.

“Right now, it appears to be a postponement, based on cash flow of the items across the board. I assume at some point that cash will come back.”

Mayor Bloomberg also praised Paterson for taking the emergency budget action — even as he acknowledged the aid freeze was “not going to be good for us” in the Big Apple. It could cost the city $127 million.

“While I’m sure I’ll disagree with a lot of it, you’ve got to give the governor credit,” Bloomberg told reporters at the global climate summit in Copenhagen. “He’s at least doing something. He’s paid to address problems, not to duck them.”

Paterson says the freeze, which will take effect today, is necessary to keep the state out of the red this month. He blames the Legislature for not taking action to prevent it.

The action faces a likely lawsuit from the state’s teachers union and opposition from Democratic state senators.

brendan.scott@nypost.com