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news New York might run out of money in March; Only In New York City Blog
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New York might run out of money in March

02/03/09 23:08

New York state may run out of money if it fails to craft a plan that will close its $1.6 billion budget deficit for the fiscal year ending March 2009.

New York's $1.2 billion in reserves won't be able to cover this deficit. Some state officials even warned that rainy day funds won't be good because revenue in the coming months is predicted to be even lower.

Now, what will happen to New York?

Link: Bloomberg.com: U.S.

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