New York Governor David Paterson called on Friday for a special legislative session to deal with the market meltdown and to cut 2 billion U.S. dollars more from the state budget.
Paterson met with lawmakers to discuss what he says will be a 1.2 billion dollars shortfall for the state this year. It has drove unemployment rate above 6 percent, the highest since after the 9/11 terror attacks.
The governor called for an emergency session of the state legislature on Nov. 18 and said he'll deliver his executive budget in December, one month ahead of schedule.
Also at Friday's meeting, Paterson urged leaders to work together to reduce state spending, saying lessons can be learned from Congress's failure to act this week.
In August, the governor called a special legislative session to cut 600 million dollars from the state budget, but only 427 million dollars was agreed upon by lawmakers.
Source: Xinhua
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