A government should be forced to plan its finances like a responsible household, taking into consideration risk, debt and spending just like the rest of us have to in reality land. After all, it's our money they're spending. Why is this so hard to comprehend?
Because it's provably wrong, impossible, and stupid, all at once.
Look: state spending (primarily health care and education) rises and falls according to population trends, while revenue from taxes rises and falls according to state GDP. Once population starts growing faster than GDP, the state starts falling further and further behind the revenue curve, with no way out except to borrow like crazy and increase the mill rate on taxes (both of which NYS has done to death already).
Slashing spending on health care and education kills people, kills jobs and sacrifices the future, at a time when we should be spending more on these things, not less (but NYS is trying this too, thanks Gov. Paterson).