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Peter Schmitt Watch

Keeping tabs on Nassau County Legislator Peter J. Schmitt. The truth is here.

Wednesday, February 11, 2004

Here it comes

Thanks to Schmitt and the Gulotta republicans, the 1999 sale of Nassau University Medical Center for $82million - a one-shot deal to pump cash into a nearly bankrupt county - we are going to be paying now in 2004. The one-shot didn't do much to help the county and now because of the sale agreement if NUMC is unable to pay the debt on the bonds it sold in 1999, Nassau will assume the debt. Over the life of the boinds, that could mean $560million. The republicans got $82million in 1999 and now if the financial situation at NUMC doesn't change, we the taxpayers are going to have to cough up 7 times that amount.

Nassau County needs NUMC because the hospital provides a needed and important service for residents of the county. We need to maintain quality healthcare but also make sure taxpayers aren't going to take a huge hit.


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