The ghost of municipal future (right) offers a glimpse of what could occur if unrealistic expectations -- a bailout, retirement at 50, avoidance of budgetary pain, last-year-overtime-larded payouts, pension plan management as a patronage plum, a defined-benefit plan, a short-term "solution" -- are indulged too long.
Wednesday, December 22, 2010
The Ghost Of Municipal Future Beckons InsolvenCity
The ghost of municipal future (right) offers a glimpse of what could occur if unrealistic expectations -- a bailout, retirement at 50, avoidance of budgetary pain, last-year-overtime-larded payouts, pension plan management as a patronage plum, a defined-benefit plan, a short-term "solution" -- are indulged too long.
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