New York facing bankruptcy in a month

Published 11 November, 2009, 19:23
Edited 12 November, 2009, 13:41

NY Governor David Paterson announced to a hastily assembled joint session of legislators that the state will be bankrupt in a month’s time unless lawmakers immediately strive to close an ever widening budget gap.

Standing stiffly from a podium in Albany’s Legislative Hamilton hearing Room, the governor said, “We're going to run out of cash in four and a half weeks. We are going to run out of money – unless we do something about it.â€