Ravitch paints bleak picture of state finances

GOVERNMENT

When Richard Ravitch walked into the ballroom of the Marriott in Uniondale to talk to a business group Friday morning, Sheldon Sackstein, chairman of Action Long Island, welcomed him from the podium.

"I have the honor of introducing to you the governor of the state of New York," Sackstein said to laughs from the audience. Sackstein quickly added, "I understand it's appropriate to introduce you as the governor when the governor is not in the house."

But that was the end of the laughs. Ravitch, the state's lieutenant governor, delivered a deeply sober picture of the state's financial situation, saying it would only worsen in coming years unless the State Legislature agreed to balance the budget.

"I wish I had good news," said Ravitch. "I don't have any. But I assume you would rather hear the truth."

He said the approximately $9-billion state deficit could grow to $15 billion by the time a new governor is in office next year. Cuts must be made across the board, no matter how painful they may be, to balance the budget, Ravitch said.

He also proposed an independent review board to oversee whether the budget was being balanced.

"I'm terribly sorry to bring this message to you," Ravitch said. "Politicians usually come and tell you all of the good things. But it's inappropriate for me not to tell a group of intelligent citizens what's going on in the world."

At the end, Ravitch got a big hand.