NY Lt. Governor - Let's Borrow Our Way Out Of Our Fiscal Mess!

New York Lt. Governor Richard Ravitch recently proposed that the state simply borrow its way out of its current budget predicament.

"Albany would sell bonds to cover operating expenses under one controversial cure being floated by Ravitch, who is working on a four-year long-term plan to stabilize the state's finances.

To avoid having to get voter approval for adding to the state's already staggering $60.4 billion debt load, Ravitch's plan would look to issue the bonds through a public authority."

First of all, 'kicking the can' down the road for future generations to deal with the economic implications of New York state's unwillingness to address their budget issues is cowardly and gutless.

Secondly, it's underhanded and devious to then subvert voters by undertaking the new borrowing through back channels (using a public authority).

Taxpayers in New York state should send a message to Albany that the state's fiscal issues need to be resolved now, through decreased state spending that is brought in-line with state tax revenues. To do anything less is a disservice to current and future taxpayers.