ALBANY, N.Y. (AP) - Former Lt. Gov. Richard Ravitch is in Albany warning about a fiscal crisis for local governments to New York, a message he's been delivering nationally as well.
Ravitch sounded the same alarm as lieutenant governor under former Gov. David Paterson. But many of his long-term fiscal proposals, while praised by financial experts, were ignored by lawmakers as the state fiscal crisis worsened.
Ravitch has since been a partner with former Federal Reserve Chairman Paul Volcker in the "State Budget Crisis Task Force." The national effort is trying to help governments stay out of bankruptcy.
Ravitch, who is also credited for helping New York City to avoid bankruptcy in the 1970s, is scheduled to speak in Albany at the Rockefeller Institute Thursday afternoon.