ALBANY -- Inaction from lawmakers in Albany is not just frustrating, it could now impact the state's credit rating. Moody's Investors Service says if cuts in spending are not made, it will likely increase how much it costs the state to borrow money. Governor Paterson and lawmakers left Albany Thursday without agreeing how to close a $3.2 billion deficit.     

"If I hear the word dysfunctional one more time, I mean enough already, get a dictionary out," says Bill Magnarelli (D) 120th assembly district.

We took the assemblyman's advice. According to The American Heritage dictionary, the word dysfunction means: "abnormal" or "impaired functioning."

The people of the state can decide how to characterize what's going on at the state capital. Magnarelli says careful debate takes time.

"Do I believe there is a crisis? Do I believe we have to do something? Sure I do," Magnarelli says. "But I don't believe I have to do it today or Monday or Tuesday. I think we have to do it very quickly but not today."

One thing lawmakers do agree on: there are major money woes.

"The democrats just don't want to cut," says John DeFrancisco (R) 50th Senate district. "If you can't cut $3.2 billion out of this budget, how are you going to cut 7 or 8 billion six weeks from now when the new budget talks start? So it's just total lack of leadership and if it's frustrating for the people, you have no idea how frustrating it is for us to sit there and do nothing."

While the governor says mid-year cuts to education and health care are needed, the issue of cuts to school aid is a major sticking point.  "Not only because of the mid year school impact on education directly in the classroom but the immediate pressure that could bring on property taxes," says Dave Valesky (D) 49th district.

Lawmakers will be back in Albany next week where, maybe, the third time will be a charm.