Tough times in Gotham City, New York grappling with $7.4 billion deficit

CA is not alone when it comes to staggering deficit levels and the NJ governor was also in the news today stating that “we have the biggest budget deficit per person of any state in the union”.

David Patterson stated today, “Since the day I became governor, I have warned that New York is facing an inevitable fiscal reckoning”. He also noted, “There are no easy answers and we cannot keep spending money that we do not have”.

Even with his warnings, New York’s budget would grow over the current year by $787 million. Gov. Paterson is seeking a $1 billion increase in taxes and fees. He is also considering a “sin” tax on soda and cigarettes. A pack of smokes currently sets you back $10.00.

Patterson is also proposing $5.5 billion in “recurring” spending cuts. Bottom line; Gotham is not experiencing fictional financial woes.

Congressional representatives: take note of Governor Paterson’s letter attached to his budget; “The mistakes of the past-squandering surpluses, papering over deficits, relying on irresponsible fiscal gimmicks to finance unsustainable increases-have lead us to a financial breaking point”.

Good Luck Batman and you require more than Robin.