With a budget shortfall of $12.5 billion projected for 2009-10, New York’s state government faces its most significant fiscal crisis in decades. However, this is not just another cyclical downturn. What’s left of Wall Street will be significantly leaner, less profitable, and more heavily regulated than the securities industry whose explosive growth fueled the expansion of state spending for much of the past 25 years. Join various panelists and speakers as they explore ideas for permanently bringing state and local government spending into line with new economic realities. Kent Gardner, President of the Center for Governmental Research, opens the event, followed by Kathy Wylde, President of Partnership for New York City, who discusses the recent “Earthquake on Wall Street.” This was event was taped at the Albany Institute of History and Art. The slide shows accompanying the presentations can be found here.
This Forum is part one of a four part series.