If New York is pilfering funds from some accounts to fund others, is Greensboro, Guilford County or North Carolina?

Highway Robbery: State's ailing road and bridges robbed;

State siphoned money to pay for operations and debt service

 

…only one-third of the money in the Highway and Bridge Trust Fund has actually been used to pay for highways and bridges. The rest has been siphoned off to pay for debt service on back-door borrowing and to fund operational costs for the DMV and the state Department of Transportation.

 

…If this trend continues, the state will have to transfer nearly $4 billion into the Trust Fund over the next five years. Using this dedicated capital money to pay for operations and debt service is just one more gimmick on the list of New York’s bad fiscal choices.

 

Report by NY state comptroller Thomas DiNapoli

Via Tyler Durden