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Citizens Union

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Today's Headlines: Public Authority Debt At $244 Billion

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Last year, debt at the state's public authorities reached $244 billion, rising from $215 billion the year before, according to a report by the state comptroller. That includes $58 billion worth of bonds issued on behalf of state government. Spending jumped from $44 billion to $56 billion during the same period. The 1,169 state and local authorities range from the MTA to the Rensselaer County Water and Sewer Authority. The public typically has no vote on their indebtedness.


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Guest Tuesday, 02 September 2014