Gov. Paterson to release plan for budget cutsPosted: Updated:
Gov. David Paterson (D-N.Y.) is set to unveil his plan for budget cuts Wednesday morning.He says the cuts are necessary since the state has a $2 billion deficit. The governor says New York is looking at $47 billion in deficits over the next four years if nothing is done.Paterson has not yet revealed what his plans may call for, but he has said that everything is on the table regarding cuts. The governor asked state senators and assemblymen to offer suggestions for the cuts, which lawmakers refused to do. The Legislature is scheduled to hold a special session next week.