Andrew Cuomo Faces Steep Interest Rates Or Default With Highest State/Local Debt Per Person Or About $97,000 Per Family Of Four

What is the Credit Rating for New York's indebtedness?

    Let's look at New York's outstanding debt, which will affect New York's ability to borrow more money when Andrew Cuomo's Budget fails to produce desired revenue.  (See blog post below or link)   New York leads California in official debt per person by 29% and greater than the average for all States by 73%.    The grim numbers are below.

        From governmentspending.com
State   Gross Local and State Debt    Population  Debt per person
                      in billions                           millions        dollars
California       371.2                                 32.8          $11,317
New York      281.9                                 19.4          $14,531
Florida            128.4                                19.3          $ 6,653      
Michigan          72.2                                10.0          $ 7,220
Texas               210.6                                25.4          $ 8,291
All States    2,617.4                            311.4          $ 8,405

     But, New York State's Pension Plans use a fraudulent Madoff like safe return of 7.5% to calculate Pension reserves.  (The actual rate of return for the past 5 years was 1.1%).   If we correct the pension liabilities optimistically with a 3.1% return, instead of the 7.5% fraudulent rate we find another $9,664 additional debt per person, raising the New York Debt per person including local debt to $24,195.  For a family of four that is about $97,000.

    The USA and its States will face borrowing problems, as reality sinks in:
US finances near worst in World
Moody's cracks the whip on Britain
The exact cost of bad decisions by government bodies, whether they be the U.S. Congress, state legislatures or local city councils, is often hard to quantify.
Now, the simple questions, if you wanted to invest in State Bonds?
1. Which State is most heavily in debt per person?  NY
2. Which State balanced their budgets? not NY
3. Which made outlandish predictions of revenue and now wants to borrow to finance their spending excesses? NY
3. Would you demand a large premium in interest rates to lead to New York over other States?  Yes

How many ads will be needed to be purchased in the future to convince you Cuomo's promised good intentions excuse his failures?