Miracle of Miracles: NY State Legislature Agrees to Budget Cuts

Today, state lawmakers agreed to cut $427 million ($427,000,000) of the additional $650 million ($650,000,000) in budget cuts proposed by Governor Paterson. In addition they have proposed up to $1.5 billion ($1,500,000,000) in cuts from next years budget. This is great news because I thought the naysayers were going win. I had all but given up on any government body ever finding their way back to fiscal responsibility. I am happy to give credit where credit is due.

I am impressed that the Governor and the Legislature were able to stand up and do what it is right for New York State. This is very important. The outlook for the economy is still uncertain. We have no data as to how we will thrive in the global economy. Planning for this uncertainty will give New York the edge when things turn around. Caution will allow New York to succeed. Willingness to do so will cement that success. Kudos to Governor Paterson for fighting the good fight!