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Report: State, local governments face 'dire' future

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A non-partisan task force has found New York’s state and local governments remain on an unsustainable fiscal path despite some improvements and a public perception in polls that the outlook is far brighter. The State Budget Crisis Task Force, led by former Democratic Lt. Gov. Richard Ravitch and former Federal Reserve Chairman Paul Volker, said today the issue is of “dire importance.” They cite the state’s longstanding debt and recurring budget deficits. They say there ...

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