But even these efforts cannot ease the fiscal stresses on the largest school systems.

"It is based upon a model that is largely obsolete, especially considering the fiscal stresses that we are under."

Borrowing over a longer period just raises the possibility that the state or local government will be under fiscal stress much longer.

But for other companies, fiscal stress becomes a crucible that results in a more resilient team with more resolve.

"In a time of fiscal stress for states, it's all the more important that we have discretion to manage programs properly."

The two schools "also have great fiscal stress in common," she added.

What, in this time of fiscal stress, can New York's government and people do to help themselves and their city?

"They have to think harder about whether it's worth it, given the fiscal stress they are going through."

Cities under fiscal stress such as revenue shortfalls have other options which include increasing taxes and cutting staff and city services.

His cautious stance may be smart politics, but it is also smart governance after years of fiscal stress.