Saturday, March 3, 2012

FOR NOW, $1 BILLION IN BUDGET CUTS STATE DEFICIT LIKELY TO GET WORSE.(Main)

Byline: Tom Precious Capitol bureau

State University students face a $300 tuition hike, local school districts will see further fiscal squeezing, some hospital expenses will rise and state workers can expect pay cuts and firings under a $1 billion budget deficit reduction plan approved by the state Legislature Friday.

The financial Band-Aid, however, is expected to be short-lived, as officials face a budget deficit that is expected to worsen in the remaining three months of the fiscal year, necessitating further cutbacks. Some fear the deficit could worsen to the point that Gov. Mario M. Cuomo might have to break his promise not to borrow money to close the gap.

It took the Legislature nearly a month to pass the package of cuts - with amendments - that originally were proposed by the governor to trim spending from the state's $50 billion budget.

The gavel on the special legislative session, which brought lawmakers back to Albany a month early, slammed down just a couple hours before dawn Friday after an all-night session. …

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