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NY Comptroller - Sequestration set to be more "severe" than expected

Thursday, February 28, 2013 - 02:44

Feb. 28 - The White House is actually underestimating the impact of Friday's $85 billion budget cuts on state and local finances, according to NY State Comptroller Thomas DiNapoli.

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When the governor. Has executive budget proposal we indicated one of the risks. Would be these cuts if the if they come into play when we have the debate. Going back a few weeks ago about the fiscal -- that have another clip from the -- And right. You know we estimated impact in 2013 can be as much as 650. Or nine million dollar pact stable government New York. The White House put out their list of the other day is by what did you think they're well. I don't I don't think it was a complete picture it's worse -- -- I think it's worse I think it's -- And it seemed on the list that they had to be less of an impact directly owns the state finances more on local government. Both -- and impact -- people education programs health care programs. I think that was was really. A preliminary look at it and I think it will be more severe than that. Some of -- they relate to time no you know to win some of those cuts when he hit it in the united as soon is. As that is that's the most pessimistic people but. These houses where in unchartered wars -- he's really had to go through this before and and whether or not he'll be. And and the level of discretion assuming that the cuts and -- through for the administration to. Implement cuts you know with a surgical knife of some of the meat cleaver that seems unclear at this point. But. With something remarkable. Happens very quickly it's clear that that there are going to be significant cuts and I do think you people here on this. And how does the state make up for bats -- lots -- usually snack. Period cutting hair raising taxes well in in the budget already is -- proposal. And I think because there's not been an appetite for raising taxes. You have the other issue that's at play in New York State where where we have this. The negotiation with the federal government over Medicaid reimbursements. Of the past. There's been any new wing view in Washington that. That New York was. -- if I can put it that way for. For some of the Medicaid reimbursements. -- for some of the New York services so there's that ten and a resolve that and and in the governor's thirty day amendments it was more put in to deal with Palin and actually have increased it for the program and Medicaid you've got the sequestration. And the impact of that will have. And and I don't think we have full consistency. Four that. The -- there will say you -- on the suit restrictions as possible again looking at the White House list. That. That those cuts -- for less the terms of the State's finances more on local governments but either way New Yorkers against her we have to be concerned about.

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NY Comptroller - Sequestration set to be more "severe" than expected

Thursday, February 28, 2013 - 02:44