When Will We Get Answers from DiNapoli
Posted by Team Wilson - Tue, August 10, 2010 at 05:44 PM
The secretive borrowing scheme, the brainchild of unelected state comptroller Thomas P. DiNapoli, authorizes the state to borrow money from the state pension fund to make constitutionally required payments to that very same fund, with interest. New Yorkers are facing a big problem with this current plan and Harry has questions he would like answered on behalf of the taxpayers of NY.
- How much will be borrowed over the next 6 years, both by the state government and by local governments?
- How much interest expense will that borrowing cost NY taxpayers?
- How large will the contribution levels be in future years?
- How much worse will these problems be under more realistic market scenarios?
These are great questions. I am especially curious to know how large will the contribution levels be in future years since I plan on moving soon…