All this year, we have been telling you about how the state deficit was floating around eight of nine billion dollars–forcing lawmakers to make difficult decisions. Well, those numbers appear to be just the tip of the iceberg, when it comes to New York’s financial woes.

A new report out this week by Comptroller Tom DiNapoli sheds some light onto the amount of state debt that has been accrued by Public Authorities. And the numbers are truly staggering. The outstanding debt for state and local public authorities is more than $210 billion. Of which, more than 50 billion is state-funded debt.

This happened mostly because, until recently, the individual authorities were responsible for compiling all financial information – with no state oversight. A bill that passed last year is designed to change that.

Assemblyman and AG candidate Richard Brodsky sponsored that bill. He joined Liz Benjamin from New York City Thursday.

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