I worry about bond issues. The guys on Wall Street who rate our bonds don't like it when we borrow. Their disapproval can mean that our bonds end up costing more to float and that means that the people will have to come up with more revenue, otherwise called taxes. I always tell my students that it's what you don't know about politics that should trouble you the most. One of the reason politicians love bond issues is that a lot of people end up making a lot of money because of the bonds.
Someone has to put the deals together and get paid for it.
The prestigious Citizens Budget Commission that tries to keep its eye on deals like this thinks the whole thing smells. If New York ends up spending massive amounts of money to finance its debt, that is money that can't be used on productive programs like health care and education. These people are really something. They will have a lot of help from all the construction interests who want to see the bond pass. I used to have a doorman on 96th St. in Manhattan.