Yet there is more which the Government could do without too great an increase in public borrowing or putting up taxes.
A significant deficit will result in spending cuts or borrowing.
They want merely to refinance the old program through $200 million in borrowing.
The risk in short-term borrowing and long-term lending is well known.
The July increase was the 26th consecutive monthly rise in borrowing.
The authority has already authorized $2.7 billion in borrowing, including $800 million to be set aside for interest payments.
The result was financial mayhem, with annual increases in borrowing of 25 %.
It was a stunning move, sweeping away $1.6 billion in proposed spending and borrowing.
The governor's spending plan for the fiscal year that began April 1 hinges on $3.8 billion in borrowing.
There are all manner of dangers inherent in such borrowings, to be sure.