Friday, October 30, 2009
New York State Is So Broke It Steals From Itself To Pay Off Unapproved Debt
...A new report by NY state comptroller Thomas DiNapoli entitled "Highway Robbery: State's ailing road and bridges robbed; State siphoned money to pay for operations and debt service" tells you all you need to know about just how prosperous the ailing economy really is. According to DiNapoli, "only one-third of the money in the Highway and Bridge Trust Fund has actually been used to pay for highways and bridges. The rest has been siphoned off to pay for debt service on back-door borrowing and to fund operational costs for the DMV and the state Department of Transportation..."
Zero Hedge: New York State Is So Broke It Steals From Itself To Pay Off Unapproved Debt
Zero Hedge: New York State Is So Broke It Steals From Itself To Pay Off Unapproved Debt
Permalink posted by markw @ 4:17 AM 
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