Monaster/News
New York State Controller Thomas DiNapoli's latest report revealed that?total public authority debt in the last fiscal year totaled $243.7 billion ? or $3,000 per person in the state.
ALBANY ? Public authorities like the MTA, the state Power Authority and the Thruway Authority have run up massive debts, driving the total debt tab for New York?s 1,169 state and local authorities up to nearly a quarter of a trillion dollars.
The stunning number was in a new report from state Controller Thomas DiNapoli, who found that total public authority debt in the last fiscal year totaled $243.7 billion ? or $3,000 per person in the state.
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That?s up from $214.6 billion in 2010, DiNapoli said.
?New York State now relies on public authorities to undertake most borrowing on its behalf, circumventing a Constitutional provision that restricts the issuance of debt without voter approval,? DiNapoli said.
klovett@nydailynews.com
Source: http://feeds.nydailynews.com/~r/nydnrss/news/politics/~3/LaXJCVvoVgM/story01.htm
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