State Comptroller Tom DiNapoli knows how to pull punches.

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“My preliminary review of the [new state] budget indicates [that] it does not adequately respond to today’s economic realities,” DiNapoli says. It’s not “a long-term solution to New York’s propensity to spend more than the state can afford.” Ya think?

True, he chided the budget’s “over-reliance on non-recurring federal stimulus funds,” saying it is “based on a hope that the economy recovers quickly.”

But that’s putting it mildly — when mildness is far from appropriate.

What happens, after all, when the stimulus dough runs out? Barring an economic miracle, the state will be on the hook for billions that it can’t cover.

This is a bad budget.

DiNapoli needed to say so — loud, clear and unequivocally.

He didn’t.

For shame.