Friday, August 27, 2010
A Clean Financial State for the State of Long Island
As we begin the process of exploring the possibility of taking the many arduous efforts that will be needed to form Long Island - 51st State we need to look into the process of being able to disavow all debts incurred on our behalf by the States of New York and New Jersey. An example would be the Port Authority of New York/New Jersey. This is one of many government agencies formed in the last century that is heavily in debt, and this is only the beginning. There are tons of other debts that would be our responsibility upon severing from New York City, New York State and joint agreements with the State of New Jersey. It IS a financial nightmare!!! I hope we can attract people to our cause who are subject matter experts in municipal and government finance. We need to have a strategy worked out ahead of time so that our grandchildren are not crushed by this overwhelming debt load.