Ravitch: New York Deficit Could Swell To $15 Billion Next Year

Posted By on April 30, 2010

The next crisis in the U.S. will likely be state and municiple debt problems.    33 states of the USA are headed for bankruptcy.
By Bob Hennelly

NEW YORK, NY April 29, 2010 New York’s $9.2 billion budget deficit is expected to balloon to $15 billion next year, according to Lt. Gov. Richard Ravitch.

Speaking to a midtown audience of real estate developers, Ravitch said he does not expect the state to reach a budget deal any time soon, despite the state’s desperate fiscal situation. The budget is nearly one month late and Ravitch says there are no external triggers forcing lawmakers and the governor to act.

More at:http://www.wnyc.org/news/articles/154198

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