NY gov. seeks hiring freeze, spending cuts (AP)

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Sanket
on July 30, 2008 11:34 PM | | Comments (0) | TrackBacks (0)
Gov. David Paterson said Wednesday he wants to freeze hiring and cut state spending by an additional 7 percent to shore up a state economy that his budget director said is officially in recession.

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Paterson said a budget deficit will hit $26.2 billion in three years because of high state spending and declining revenues, including a 97 percent drop in banking taxes from a year ago. He is also seeking approval of measures that have failed to gain support in the Legislature , including privatizing some state assets and resources.

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