The first damage and economic loss estimates of Hurricane Sandy are pegged at about $33 billion for New York State and $50 billion for the region, Gov. Andrew Cuomo said today, Nov. 8, in an update on the storm. "That is a staggering number, especially with the financial situation that we’ve been in," he said.
The state may also incur, at least, an additional $1 billion deficit due to the storm, Cuomo said.