New York State Moves Closer to Insolvency

The New York Post reports on New York state:

Then, last spring, deep in the throes of what was termed the worst economic collapse since the Great Depression, lawmakers pumped up state spending even more -- raising it from $121 billion to $132 billion, a stunning 9 percent jump, and paying for most of it with huge tax increases.

Paterson, to his shame, went along.

But now he's backtracking.