New York's State Debt Reckoning.

"You would think that the voters would be a hurdle to being able to issue debt, which is the reason that many of these other states use these other forms of debt to evade the limits on general obligation debt", Washburn said. How much debt does New York State have outstanding and how is it issued? The reforms offered include having the state clearly show which debts are the direct responsibility of state government, adopting administrative controls over the overall debt portfolio and increasing transparency over all categories of debt. [Extracted from the article]