Henican: When borrowing goes bad
Photo credit: Newsday / Thomas A. Ferrara | Nassau County Interim Finance Authority (NIFA) Chairman Ronald A. Stack , second from right, during a meeting where five NIFA members voted in favor of Mangano's 2012 budget. (Dec. 8, 2011)
What's another half-billion among friends?
With Nassau County proposing to borrow a fresh $450 million to pay for certain expenses, perhaps it's time for a brief budget-theory review.
Wait. Stick with me here. I know budgets can be boring. And budgetary theory sounds even worse. But to paraphrase what Pericles said about politics and Leon Trotsky said about war, "You may not be interested...
