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A $4 billion federal stimulus infusion helped, but "with that capital backlog," he said, "they're never catching up".
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She also said the authority's backlog of capital projects in need of attention was estimated to be $6 billion.
In New York, the authority has a $50 million operating deficit and a backlog of capital projects and other repairs that is estimated to cost $7 billion to address.
As a result, by the time the downturn came, they entered the credit crisis deeply in debt and with a backlog of capital investment needs.
At the time of privatisation, thanks to years of Treasury cheese-paring, the British water utilities faced a daunting backlog of capital investment needed to comply with European water-quality directives.
The key metrics include customer diversification, free cash flow, balance sheet strength, new business backlog and capital efficiency.
A Delhi high court judge once estimated it would take 466 years to get through the backlog in the capital alone.
Dry Spell | As market volatility remains high, and with a hefty backlog of venture-capital-backed companies waiting to go public, venture capitalists are beginning to worry that the dark days of 2008 could come back to haunt them, The Wall Street Journal writes.
"The council is also looking to add extra capital budget to particularly address the backlog of DFGs".
Greenspan also cited as a "modestly encouraging sign" the increasing order backlog for non-defense capital goods.
In his speech, Mr Brown lamented "a backlog of under-investment" and promised to double capital investment with a new "Investing in Britain" fund.
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