Cuomo Talks Budget Deficit

November 15, 2011 Updated: November 15, 2011
Governor Andrew Cuomo discussed the recently announced budget deficit of $350 million with The Capitol Bureau on Tuesday morning.

“There’s been a lot of volatility in these numbers,” Cuomo said, who added that although the news is grim, there have been ups and downs. “I’m going to continue to watch them over the coming weeks because it’s been a little bit like watching a bouncing ball.”

The possibility of convening a special session arose, which would require the legislature, out of session at this time, to meet with the Governor specifically to address the budget gaps.

Cuomo explained that if “dramatic changes” to the budget were made, “fairness” dictates that the legislature be consulted, since they passed the budget in the first place. Further analysis would be needed before making any decisions. “I want to make sure we’re not making decisions based on incorrect information.”

Revenues at the beginning of the year were actually ahead of schedule. “Then in New York, as in the rest of the nation, the economy started to head south.” He emphasized that as the days go by, decisions begin to impact the next year. 

Budget issues included the financial effects of the intense flooding. Cuomo pointed out hard-hit communities were impacted by both the flooding and the clean-up efforts.

The question regarding these kinds of issues is whether it is affordable and where the money will come from.

The interview ended with a discussion of the potential millionaire’s tax. Cuomo repeatedly referred to being fair, and said his job as Governor is to identify the illness and symptoms “and treat the illness, otherwise we’ll be treating the symptoms forever.”

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