Despite Revenue Growth and an On-Time Budget, New Gaps Loom

O'Brien, Elizabeth
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p20
Trade Publication
The article provides an overview of the fiscal condition of New York. The state registered a stronger revenue in 2005 and an on-time budget. Moody's Investors Service's upgrading of the state's general obligation debt reflects its improving economy. Fitch analyst Richard Raphael comments on New York's wealthy and diverse economy. Meanwhile, to address the estimated $50 billion actuarial liability for health benefits, Mayor Michael Bloomberg has proposed setting aside $1 billion each from fiscal 2006 and 2007 into an irrevocable trust for retiree health benefits.


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