WXXI: Paterson Says Special Session "Very Possible" (2008-09-22)

Governor David Paterson, saying "things will get worse before they get better", says it's becoming more likely that he'll call the legislature back in a special session before elections to deal with the state's deepening fiscal crisis.

Paterson, says it's "very possible" that he'll ask the legislature to return once again this year, before November 4th, to make further cuts to the state budget. The governor, speaking in Buffalo, said that the $425 million dollars in reductions approved by the legislature in a special session in August have likely been wiped out by the events on Wall Street over the past several days, including the near collapse and government bail out of AIG, the bankruptcy of Lehman Brothers, and the selling of Merrill Lynch.

Paterson says unlike in the summer session, when school aid cuts were off limits, everything is now on the table, as he predicts the state's deficit could grow by another one to two billion dollars. Paterson says he'll make his decision on whether to call lawmakers back after he receives more data from his budget staff later this week.