Gotta bridge to sell? Don't believe me? Fine. But New York has one.

[Deja Q]

http://www.nypost.com/seven/07302008/news/regionalnews/crisis_puts_ny_in_sell_hell_122211.htm

ALBANY - Warning of an approaching economic calamity, Gov. Paterson yesterday called an emergency session of the state Legislature - and raised the specter that New York may have to sell off roads, bridges and tunnels to close a massive budget deficit.

In a rare televised address, the Democratic governor cited "private-public partnerships" involving the sale of state assets - widely condemned by critics as fiscal gimmickry - as one way to stem a tide of red ink brought on by the sagging economy and woes on Wall Street.

DICKER: Grim Dave Seems All Talk But No Action

EDITORIAL: The Gov's Fine Talk

"We can't wait and hope that this problem will resolve itself," Paterson said. "These times call for action, and today I promise you there will be action."

Profit-tax collections from the state's 16 biggest banks, which were at $173 million in June 2007, fell to $5 million last month, Paterson noted. That's a shocking 97 percent plunge.

Sorry if this had been posted before.

Who will be blamed?

Previous governor?
Poor tax (income) structure?
Poor oversight of spending?
Too many tax cuts?
Combination of those and/or other factors?

[sabbat hunter]

1. mostly

the first 3.

NYS is among the highest taxed state in the nation. So tax cuts are not to blame.

Overspending and waste are the biggest two. Pataki leaving a mess, that future governors would have to clean up is another big reason.