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Long IslandPoliticsSpin Cycle

LG Ravitch and bond backlash: What now?

Lt. Gov. Richard Ravitch had expected the backlash that would follow his call last week for short-term borrowing as one of several tools to pry the state out of its chronic deficits, Capitol sources said.

But he was intent on swinging the spotlight back to the fiscal crisis, they said.

Would Ravitch have made the dicey suggestion had legislators responded earlier to the fiscal crisis? "I don't think it would change the plan substantially had slightly different action been taken last year," said a Paterson administration official, "because the aim was to address the bigger-picture budget problem."

In his report, Ravitch says residents are "in the habit of thinking" the state can afford "more generous programs than the rest of the country" - even as New York's economic edge fades.

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