Politics on the Hudson

   State Comptroller Thomas DiNapoli appears to agree with Gov. David Paterson that the state will have to reduce spending next year to deal with New York’s fiscal crisis. Here’s what DiNapoli has to say about the Mid-Year Financial Plan, which the governor released today. The governor said the state has to cut 25 percent of its spending supported by taxes next year.

   DiNapoli’s statement today:

   “New York State is facing staggering budget shortfalls. State revenues are dropping off and the markets’ errtic swings continue. The economic turmoil is driving New York into a very deep budget hole. And our past use of fiscal gimmicks has made the state’s financial situation even worse.

   “The consequences of the fiscal crisis haven’t fully played out yet. We need to assess what we can afford, and make sure we don’t keep spending money we don’t have.”