New York State and its local governments maintain an extensive infrastructure critical to the economy, including roads, bridges, educational facilities, water and sewer systems and medical facilities. Most of this capital investment is financed through the issuance of long term debt. Investment in such infrastructure maintains and improves the vitality and economic well being of our communities. However, when governments rely excessively on debt, especially to pay for current operating costs, the long term costs of supporting the debt will impact current as well as future operating budgets by limiting financial flexibility and the ability to finance essential capital projects in the future.