I have to edit pictures already…. Well he is the first one to admit that this state is in a economic crisis. Seeing this whole state has been in denial for the past decade or 2,3,4… somewhere in there were OK.

This state has gotten so bloated, so dependent and addicted to our money, sometimes I think the only way out is bankruptcy or a control board in Albany. Is that even possible? Doubt it, should be though.

Paterson preparing New York State for possible economic crisis

BUFFALO, N.Y. (WIVB) - - While the warmth of the moment belonged to David Paterson Monday, after his swearing-in as New York’s 55th Governor, he made a chilling observation of what could lie ahead for New Yorkers, as the nation faces a possible economic crisis.

David Paterson, NY-Governor, “And I must say to all of you in government, and all of you in business, that you must meet with me in the next couple of weeks and adjust our budget accordingly.

Mayor Byron Brown is now preparing the City of Buffalo for further belt tightening, and wants common council members to pass a law requiring that money be set aside for any potential crisis, a so-called rainy day fund.

The fund would cover a 30 day period, amount to about 11 1/2 percent of the city’s operating expenses, or a little more than $42 million dollars.

Byron Brown, Buffalo Mayor, “It is available should there be any loss in state aid or some other financial crisis.”

Some city lawmakers are reluctant to pass a rainy day law unless they have a vote determining what that fund will be. It would become part of the city’s four year plan.

Rich Fontana, D-Majority Leader, “We actually want to look at the plan, approve it, have the people look at the issue in our budget department and take care of the issue.”

The mayor says it’s an executive function. He also said any cuts in aid from Albany could impact on any potential raises for city workers.

Byron Brown, Buffalo Mayor, “That could significantly impact our ability to provide raises to our bargaining units.”