Paterson: States Need Financial Rescue Package, Too

New York Governor David Paterson asked Congress Wednesday to provide state governments with a financial rescue package similar to the one it approved for the banking industry, arguing that the financial turmoil is threatening New York’s economy in ways far more severe than the 9/11 attacks. (NYT)

Other lawmakers including Governor Mark Sanford of South Carolina shot down stimulus proposals for cities and states, decrying the notion of pushing the government’s fiscal year deficit past $1 trillion.

Sources: (NYT, CNNMoney)