Last Post 67 days, 13 hours Ago
States seeking $1 trillion to 'keep afloat'
By ANDY BARR | 1/3/09 11:37 AM EST
New York Gov. David Paterson along with other Democratic Governors are seeking $ 1 trillion in federal assistance in order to meet financial obligations. Photo: AP
A group of Democratic governors warned Friday that without as much as $1 trillion in federal assistance, many states will not be able to pay their bills in the next year.
“There are states that are talking as California has of not being able to meet their financial obligations in the coming months,” New York Democratic Gov. David Paterson said on a conference call with reporters. California announced in December that all state employees would be forced to take two days of unpaid leave.
Paterson was joined by fellow Democrats, New Jersey Gov. Jon Corzine, Massachusetts Gov. Deval Patrick, Ohio Gov. Ted Strickland and Wisconsin Gov. Jim Doyle in warning that states across the country will be forced to make drastic budget cuts in the face of unprecedented deficits.
“We are not crying wolf. This is one of the worst situations our states have faced,” Strickland said. “This is a real crisis. These are real problems. And if we don’t get some significant assistance many of those in our states will suffer greatly.”
Strickland added that the situation facing the state of Ohio is so dire that in order to balance his state’s budget, he would have to fund every state program at 75 percent of its current level. “If I were simply to flat fund the operations of this government, I’d end up with $7.3 billion in deficit,” he said. “We’re just trying to keep afloat.”
In order to make up for the shortfalls, Corzine said the incoming Obama administration and Congress will need to free up $1 trillion in federal spending for state assistance. “We’re all going to be Herbert Hoovers if we’re not careful here,” he said.
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just_worried
Jan 3, 2009 | 10:47 PM |
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Patch_W_Adams
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just_worried
Jan 4, 2009 | 2:47 PM |
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Patch_W_Adams
Jan 4, 2009 | 2:53 PM |
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just_worried
Jan 4, 2009 | 7:01 PM |
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Chickenkiller
Jan 13, 2009 | 1:14 AM |
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