EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.
At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.
Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.
