New York Gov. David Paterson's proposed fiscal 2010 budget relies on new revenues and savings that may not materialize, Comptroller Thomas DiNapoli said yesterday in report on the budget.

"The governor has struggled to present a balanced budget in the face of an unprecedented financial crisis," DiNapoli said in a press release. "It's a step in the right direction. But there are risks in the governor's plan. Many of the proposed revenue raisers and spending reductions may not be enacted or realized."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.