How the Comptroller Sees It: Budget

"It does not rely heavily on new taxes, fees or one-shot revenues. And it does not borrow money to pay for operating expenses," State Comptroller Tom DiNapoli says in a statement about the NY State budget. "These are welcome changes from the short-term fixes and budget gimmicks of the past."

He continues,

Addressing a $10 billion deficit will not come without pain. Many school
districts and health care providers face a formidable challenge to
absorb significant cuts in funding. When school districts present voters
with their proposed budgets in May, we will start to see the impact of
these cuts at the local level. In addition, the cuts in health care must
be managed to minimize the impact on those most in need of care.

Now comes the hard part. The state, local governments and school
districts must now not only do more with less but do it better as well.
All of us in government have to watch tax dollars and monitor spending
very closely.

In other words, the likely next round in Albany: Sharp debate about a property tax cap with strapped local budgets.