Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
Threaded View
-
06-13-2010, 11:28 AM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
NY State Shell Game - Municipalities Borrow from Pensions
Sunday, June 13, 2010
NY State Shell Game - Municipalities Borrow from Pension Fund to make Required Pension Fund Contributions
When it comes to pension funding schemes, NY governor David Paterson and the NY legislature have taken can-kicking to ever increasing levels of absurdity. Please consider State Plan Makes Fund Both Borrower and Lender. http://www.nytimes.com/2010/06/12/nyreg ... nsion.html
Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund.
And, in classic budgetary sleight-of-hand, they will borrow the money to make the payments to the pension fund — from the same pension fund.
As word of the plan spread, some denounced it as a shell game and a blatant effort by state leaders to avoid making difficult decisions, like cutting government spending or reducing pension benefits.
“It’s a classic Albany example of kicking the can down the road,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Migrant children in Massachusetts lived among sex predators as...
05-19-2024, 11:33 AM in illegal immigration News Stories & Reports