Paterson bill would cap spending at rate of inflation

Gov. David Paterson announced Monday he plans to introduce legislation that would cap state spending at the rate of inflation.

Had a cap been in place during the past five years, Paterson said, New Yorkers would have saved $17 billion. Annual spending growth would have averaged 2.6 percent, compared to the 7.9 percent the budget actually grew each year.

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(FACT Check: Actually the real growth of the state budget was .70 percent when the stimulus funds are deducted...the federal funds are a pass thru in the state budget...in other words it was aid.)