ALBANY, N.Y. -- Providing further evidence of New York's economic slide, a report released by the Cuomo administration last night estimated that the state would spend $824 million more than it expects to take in for the current fiscal year.
The report attributes the continuing erosion of the state's finances to a national recession, which, it says, "will continue through the middle of next year."
The governor's budget director announced that he was imposing an across-the-board freeze on state hiring and the letting of contracts. The announcement marked the third year in a row that unanticipated fiscal problems forced Gov. Mario M. Cuomo's administration to impose spending cuts in the middle of the fiscal year, which starts in April.