New York Governor Paterson says state could run out of money in coming months

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ALBANY — Gov. Paterson warned yesterday that the state could run out of money “in a month and a half” and threatened to cut short the Legislature’s summer vacation if lawmakers don’t pass a plan to pay the bills.

The governor sounded the alarm a day after delivering a historic 6,681 spending vetoes that left the state’s $134.4 billion budget at least $1 billion out of balance.

Senate Democratic leader John Sampson of Brooklyn sent his members home last week without voting on a tax bill needed to raise $950 million in revenue.

“They cannot ignore this problem,” Paterson told WOR Radio.

Full Story: http://www.nypost.com/p/news/local/gov_time_money_running_out_on_ny_fVW8dwZBmmQ0m5nZsrKx2H