And now they're running out of dough.
From the Times-Union in their story about the downgrading of Colonie's debt by Moody's to barely above junk bond status:The Colonie crew must have been emulating Bush & the DC crazies.
Comptroller Ronald Caponera and Supervisor Mary Brizzell attribute the town’s $8.5 million general fund deficit, in part, to unfunded state mandates, like new laws governing storm water run-off and and dramatic spike several years ago in contributions to the state pension system.
The Democrats, namely town Chairman Phillip Steck, argue that’s a hollow explanation because those mandates apply to towns and cities across the region and state — many of whom maintain strong bond ratings.
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