ALBANY – Gov. Paterson said today that the state’s newly adopted record-high budget may be out of balance by as much as $3 billion and that next year’s deficit could grow to $6 billion, from a projected $2.5 billion.
Paterson’s grim assessment came a day after state Comptroller Thomas DiNapoli said state revenues had fallen short by nearly a quarter of a billion dollars during April, the first month of the new fiscal year.
Paterson and state lawmakers approved a $132 billion budget in early April that raised taxes by $8 billion and increased spending by nine percent.
The governor said at least one new special legislative budget session may be needed to reduce current year spending in order to cope with the new and growing deficit.