The New York State Comptroller has released a debt impact study which shows New York State debt has risen over $63 billion. The debt averages about $3,253 per resident. New York's debt is second only to California.
"At this point, 95 percent of the borrowing over the past 10 years has been without voter approval," Comptroller DiNapoli stated. Sidestepping the prohibition in the state constitution against debt without voter approval, most of this debt came from public authorities.
DiNapoli stated that the total debt increased by 62% over the past ten years. He cautioned that it could threaten critical infrastructure projects for roads, bridges and schools.
Read the full report: http://www.osc.state.ny.us/reports/debt/debtimpact2013.pdf
Be sure to read Short-Term Fix, Long-Term Costs--Attica, on page 5. Separately, NYS transferred all maintenance of Interstate 84 to the Thruway Authority between 1992-2010 in order to avoid higher taxes in the state budget.* Between 1992 and 2008, Thruway Authority tolls paid for I-84 maintenance. Some have called it slight-of-hand in place of highway robbery.
Reference:
Wikipedia--NYS Thruway Authority --read System Expansion and Toll Elimination I-84.
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