(In fact the level of state borrowing for investment currently should be considerable, up approximately 3 - 5 % of GDP). (socialistaction.net)
His creation and creative use of state authorities to bypass the legislature and the cap on state borrowing did not involve consultation, discussion or Gov. Cuomo would say the «paralysis of transparent analysis.» (nystateofpolitics.com)
[13] The government sector had negligible foreign currency liabilities (equivalent to less than 1 per cent of GDP), which were mostly accounted for by liabilities of state borrowing authorities and were hedged almost entirely using derivatives. (rba.gov.au)