" My fellow New Yorkers. Our state now faces increasingly harsh. Economic times. I travel across the state has these communities suffer. Everywhere I go I meet people losing jobs. And their homes. I -- families were forced to pay more for gasoline. And for food while their paychecks stay the same. Next -- some of these families will have to choose between heat their homes. And feeding their children. The rising cost of health care I mean that they cannot afford to get sick. The rising cost of education -- that parents can no longer prepare. For their children to be in the work force. The damage on Wall Street is infecting all of our communities and its effects on our New York State finances aren't devastated. When I took office. I was surprised that the New York State budget deficit for next here was five billion dollars. I immediately ordered cuts to state spending. But the situation has gotten worse. Tomorrow I will submit a budget plan. That places our deficit for next here at six point four billion dollars. At -- one point four billion dollars higher and it was just a few short months ago. How could this happen. It's simple. Costs are rising steadily revenues are dropping dramatically. The beginning of may. Our budget director projected our New York State deficit over the next three years at 21 point five billion dollars that was a record. But things have changed. That number has now erupted to 26 point two billion dollars a staggering. 22%. Increase in less than ninety days. In June 2000 and said. The sixteen banks that pay the most one taxes to their profits. Remitted 173. Million dollars to a New York State treasury. This June just a month ago they send us five million. On 97%. Decrease. Our economic woes -- so severe that wanted to talk to you personally this evening about where we -- The fact is. We confront harsh times. Let me be honest. This situation will get worse before it gets better but the time to act is now we can not waste any further opportunities. We can't wait and hope that this problem will resolve itself. If we do we will lose our opportunity to turn the situation around. These times call for action and today I promise you there will be action. Today I am calling the legislature back for an emergency economic session on Tuesday August 20 night. In the interim administration will confront the following issues addressing the size of the state workforce. Further cuts to agencies spending. And generating proposals for public and private partnerships. For our state assets. When I meet with the legislature. We will work together to help New Yorkers cope -- this crisis. We will continue working on a property tax to lighten along the home owners and we will find a way. To curtail the rising cost of home heating next week. I would do everything I can to make sure that new York's families do not freeze when he gets cold. My message to the legislature is that next year's budget process starts now. New York's families are already making the tough choices. Every time you -- a tank of gas have go to the supermarket. You are learning to do more with less New Yorkers are prioritizing spending every day. The lesser crowding of the New York State thruway is an indication. That too many of you have postponed holidays or cancel your vacations. Now your government is going to follow your lead. We have an end the legislators vacations and bring them back to Albany to re prioritize the way we managed New York State's finances. For too long we have done last -- And paid more alas. Now government will do what failings have done when their incomes that fall. We will -- spent. Government will learn to do more with less but I can't do it alone. I need all of your help. I'm asking for the state leaders in the public and private sector. In labor. Those who serve in Washington. Owners and business and others to join us in this great effort. It's time for New York and other governments to cut up our credit cards. The era of buying now and pay later and later is all of the faster we address this crisis the faster and stronger we will emerge from. That is the path. To a better and more prosperous New York. I'd like to thank the networks for extending me this opportunity. And all of you for watching and listening this seat --"