Debt Policy

Press Release

CBC Statement on Lieutenant Governor Ravitch’s Financial Plan Proposal

Mar 16, 2010

The CBC issued the following statement on Lieutenant Governor Ravitch's financial plan proposal.

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Press Release

Statement on Comptroller DiNapoli’s Strategy for Fiscal Reform

Mar 09, 2010

The CBC issued the following statement on Comptroller DiNapoli’s strategy for fiscal reform.

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Debt Policy

Report

In The Danger Zone: A Comparative Analysis of New York State's Long-Term Obligations

Mar 09, 2010

A comparative analysis of the 50 states indicates that New York's debt burden is in a "danger zone;" it is well above national averages and greater than that of all but three states. As a result New Yorkers are currently paying about $5.6 billion in debt service, and in four years the state's credit card obligation will be over $7.1 billion or one of every ten dollars paid in taxes.

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Press Release

CBC Issues Report On New York State’s Debt Burden

Mar 09, 2010

CBC released a report on New York State's debt burden, which raises serious concerns about the existing levels of debt and comes at a time when the State is considering ways of addressing a budget gap of more than $9 billion.

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Op-Ed

New Priorities for Mayor Bloomberg's Third Term

Nov 16, 2009

CBC President Carol Kellermann outlines the fiscal priorities that need to be addressed by Mayor Michael Bloomberg in his third term.

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Video

CBC Comptroller Candidates Forum, 2009: "The Buck Stops Here"

Sep 09, 2009

David Weprin (Opening Statement)

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Testimony

Testimony for New York City Council Finance Committee on 2009 Executive Budget

May 31, 2008

CBC Senior Research Associate Maria Doulis testifies before the City Council Finance Committee on the Executive Budget for fiscal year 2009. With a surplus projected in the current year and a budget balanced for fiscal year 2009, this is a critical opportunity to think about the long-term fiscal challenges facing the City.

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Press Citation

State Borrows To Pay For Pork

May 15, 2008

Post-Standard

Delen Goldberg

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Press Release

CBC Commends Mayor Bloomberg on Sound Executive Budget

May 01, 2008

CBC comments on Executive Budget for fiscal year 2009 released by Mayor Michael Bloomberg. The budget is based on a realistic assessment of the economic problem facing New York City and presents a sound strategy for dealing with it in the coming fiscal year. Key decisions made since the January Financial Plan include: Increasing the Program to Eliminate the Gap (PEG) from $885 million to $1.3 billion for fiscal year 2009, the retirement of $2 billion of debt, and reducing the future debt service burden through a 20 percent reduction in the capital program.

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Press Release

CBC Press Release on State Debt

Oct 17, 2006

CBC calls on State legislators to commit to addressing the State's "runaway debt" of $50 billion before election day. While legislators plan to return to Albany for a special session to approve their own pay raises, CBC insists that "fixing broken debt limits" is more pressing.

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