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Governor David Paterson spent most of the day meeting with Assembly Speaker Sheldon Silver and Senate Democratic Conference Leader John Sampson, but no deal was reached.

"We're prepared to do what we need to do and cut $3 billion. The governor is telling us that we have to cut education aid. We think it's wrong for school districts and taxpayers to have to go back and reassess. You can't do that right now. We're willing to find other cuts," said Senator Tom Libous.

"We've been meeting all along trying to make progress on it and I don't think there's any conclusions to talk about at this point," Silver said.

The leaders gave the governor a $2.8 billion plan which includes Paterson's $1.6 billion in executive actions.

"That $1.6 has been out there a long time. It didn't have any impact at all," Silver said.

In a statement released late Monday, the governor says he accepts their plan, but says it does not do enough to restore New York to long-term fiscal stability.

Paterson says on top of the leaders plan, he is directing the division of budget to reduce local assistance payments. He says at this point, he will no longer negotiate with lawmakers.