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Wednesday December 10, 2008
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Copyright © 2008
Mid-Hudson News Network, a division of Statewide News Network, Inc. |
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| Business Council leader says economic crisis didn’t happen over night |
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NEWBURGH – The president of the Business Council of New York told Orange County business people Tuesday the state’s financial woes have been growing for some time. Speaking in Newburgh to the Orange County Chamber of Commerce, Kenneth Adams said the economic downturn is not the singular reason for state government’s financial problems. “There’s a $15 billion deficit not just because we have tough economic times, not just because of the downturn on Wall Street and tax revenues, but because we’ve had state policies, state decisions in Albany for years now that have driven up state spending and driven up costs and, by the way, forced through mandates to counties like Orange County, that have to get paid for on the local level.” Adams said the state’s latest financial challenge will come next week when Governor Paterson unveils his proposed state 2009-2010 budget. |
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