New York passed a $121.7 billion fiscal 2009 budget yesterday, nine days after the deadline. In a press conference, Gov. David Paterson touted cutting $1 billion in agency costs and $828 million from Medicaid.

"We are happy to say that we have decreased our growth by one-half of 1%, which is the first time that has happened in a decade," Paterson said. Operating funds spending increased 4.5% to $80.5 billion over last year's budget and all funds spending increased by 4.9%.

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