ALBANY — New York’s hard times just got harder.
Closing the latest deficit may require cuts of perhaps 1 percent in every area — including a midyear reduction in school aid, the Paterson administration said yesterday.
Budget Director Robert Megna said the $315 million shortfall in the current budget must be addressed by Dec. 31, when Paterson’s term ends and fellow Democrat Andrew Cuomo takes office.
In January, the state Senate may be in Republican hands, pending a recount of votes from Tuesday’s midterm elections.
As for the state’s fiscal year, it ends on March 31. The 2011-12 fiscal year is currently projected to have a $9 billion deficit.
One reason for the latest deficit is that the poor economy has driven 4.9 million New Yorkers into the Medicaid health-care system, compared to 4.2 million just three years ago, Megna said.