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[0:00] ..." We're talking with the Governor Deval Patrick on this dreary Friday morning here in Boston. Jury news from the state -- governors you're dealing with water 600 million dollar"...
[3:08] ..." Governor of the increase sales tax has been on the boards now for a few months on is there any way of looking into that is --"...
[5:00] ..." that there was some consensus concern that is what is called the commercial real estate -- It's amount of debt. For commercial real estate is coming -- In the next few and years with with substantially significant income stream to support that. Debt debt debt debt debt I think its final out and so it we know it's effective that we"...
[0:00]" We're talking with the Governor Deval Patrick on this dreary Friday morning here in Boston. Jury news from the state -- governors you're dealing with water 600 million dollar budget gap why isn't that the budget projections or the revenue projections keep. Being so far off."
[0:16]" Well it's because at least according to the economists who are the ones we are relying on it as we have for decades. It's because they're models built it the circumstances the priest it and the president that we dealing with is. Election -- there is no press for what we do in not since the Great Depression. And we seen. Global economic collapse and so we're constantly having to to attest. I think you know kudos to our team because we have. Managed to -- very orderly and professional way -- try to as much as possible. To achieve this savings without doing. Too much harm to that to public service and we have to do another round of that 600 million dollars worth. In the short run which includes unfortunately. At least the Christmas and significantly."
[1:04]" Layoffs also -- talking about furloughs for some of the management people in your executive department. What -- looking for from unions as -- concessions."
[1:13]" Well first of all I want to I wanted to honor all of the the state workers who kissed. Keep their very best we with very few exceptions every day. To serving the public and I appreciate nine that this is very hard on him we've had to. Eliminate 1400 positions already we've had a hiring -- effectively hiring freeze -- Frozen. Wages for. Executive branch managers and 4000. Or more. Over the last year so in have to do another round of furloughs and and for the workers who unionized to your question -- We have asked that they come to the table and it was. To work out revisions in the contract that enable us to pay. And hang together. So that we can keep the positions and deliver the services to the to the public -- as we may have to live. Lay off as many as 2000 additional."
[2:11]" Governor some of your Republican critics on namely senator Richard to say. Says this belt tightening should have been done two years ago."
[2:19]" Well -- say that of course we have been belt tightening for from more than a year they note that -- just like to get credit for it because it's it's election season. But as -- said earlier we've already done rounded furloughs 1400 positions have been eliminated already we have. We have. Frozen. The hiring and also the the wage increases for the people who were not. On state contracts and we've been working with the with the unions to get. To get some accommodations and and integrated -- urgency now for -- unions become to the table so that we don't have to continue to do these playoffs because as we do them. It does affect public service -- does affect the quality. And reliability. A public service and -- a point at which we just can't we kitchen we can't just ignore it."
[3:08]" Governor of the increase sales tax has been on the boards now for a few months on is there any way of looking into that is -- driving sales out of the state would that be affecting revenue in the sales tax department."
[3:19]" I think it's too soon to say and it's doubtful -- truth the that we had really just about a month's worth. Reported that results on the sales tax and are a lot of other means of affecting. People's decisions right now but this effort the the economy's doing a lot of damage to the state government. But in families and and workplaces where people are are nervous. The private sector is beginning to turn -- early signs that. The capital -- Markets to strengthening housing sales and starts to strengthening the business investment is gradually. Improve me improving as an uptick in consumers and business confidence it's all very good early news in the sectors that this administration has focused on the IT life sciences and clean energy health care education sectors the one. There are strengthening and leading -- out of this recession faster stronger in most of the rest of the country that is. Good early news that I think people are still any. In their daily lives he worried about whether you know the next pink slip is there and I think -- on in the years. -- in this -- in seated in the in sales and shops merchants become."
[4:33]" Those indicators those positive indicators you just mentioned best case that would be a best case scenario. In a worst case scenario are you worried about what they talk about perhaps a double dip recession."
[4:44]" Well I've heard dead at you know at that -- the other night with the art council's economic advisers really them. Wonderful -- academic. Economists and practical business. Leaders who were talking about some things -- they see increases in net. I think that there was some consensus concern that is what is called the commercial real estate -- It's amount of debt. For commercial real estate is coming -- In the next few and years with with substantially significant income stream to support that. Debt debt debt debt debt I think its final out and so it we know it's effective that we don't know. It's good -- to shake and I think this is going to be strong. Recovery but it gradual. We community to be considered an expert."
[5:32]" Well I wish you the best and thank you so much for the call in this morning a pleasure to talk with you again it."
[5:36]" Thank you so much for -- week YouTube I think."













