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News stories tagged with "financial"

Gov. David Paterson spoke to a capacity crowd in Watertown.
Gov. David Paterson spoke to a capacity crowd in Watertown.

Paterson says 2009 "year of bad medicine"

Coming off his first State of the State address, Governor David Paterson is taking his prescription for the state's $15.4-billion deficit on the road. The first stop on his Upstate tour was last night at the North Side Improvement League in Watertown. His message to the packed house of 400 people was as grim as it was simple: 2009 will be "the year of bad medicine" for New York State. Paterson offered little new from previous speeches. But as David Sommerstein reports, his frankness appeared to win the crowd.  Go to full article

Lewis Co. restores 25 jobs

Lewis County finalized its 2009 budget last night. It restores about half of the 52 jobs that lawmakers had considered eliminating. But that came at the cost of dipping into the rainy day fund when rainier days may be ahead. David Sommerstein reports.  Go to full article
Rep. John McHugh (R-Pierrepont Manor)
Rep. John McHugh (R-Pierrepont Manor)

McHugh: Bailout "ugly" but necessary

Lawmakers on both sides of the aisle reacted angrily and skeptically to the Bush Administration's $700-billion financial bailout plan yesterday. Democratic Senator Chris Dodd, who chairs the Senate Banking Committee that held yesterday's hearing, called the proposal "stunning and unprecedented in its scope and lack of detail." Republican Senator Jim Bunning of Kentucky called it "financial socialism." North Country Congressman John McHugh says he shares those concerns. But he says the bailout is necessary. The Republican told David Sommerstein many of the financial executives don't deserve saving.  Go to full article

Giving Not-For-Profits a Leg Up

The Adirondack Community Trust is challenging non-profit organizations in six North Country counties to go a step further in securing their financial futures. ACT is offering training and matching funds to small- and medium-sized non-profits to begin building their own endowments. Martha Foley talks with ACT's executive director, Cali Brooks.  Go to full article

Wall Street Woes Likely to Affect State Budget

The continuous drop in stocks on Wall Street will likely have a negative effect on New York State's budget next year, say economists and other experts. They've already begun a philosophical war, whether to raise taxes, or cut spending. Karen Dewitt has details.  Go to full article

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