posted on October 16, 2012 12:52
New York's state debt now equates to about $3,200 dollars per resident.
State Comptroller Tom DiNapoli says the close of the last fiscal year found that New York is on the hook for $63.3 billion in state-funded debt. That's a record.
DiNapoli says that much of that amount was linked to borrowing for capital improvements such as roads and bridges. DiNapoli says state spending has grown 15 percent since 2008 -- nearly double the rate of inflation.