Null Space, switching from the reassessment beat to a bad situation, has unveiled (and aptly named) the huge POS that the City of Pittsburgh, apparently addled by delusions of solvency, is presenting to financial markets.
Mainly, it is InsolvenCity's mayor (or at least the leeches who wind his spring) and the city council president (who doesn't even a have a spring to wind) who are responsible for this return to an unsustainable financial trajectory. For the mayor, this offering is designed to promote re-election by funding a bunch of paving projects and (if history guides) self-promoting trashcans. For the city council president, this spending spree was the cost of doing the business of obtaining the mayor-controlled votes among city councilors for her re-election. For everyone else in Pittsburgh -- well, you voted for these knuckleheads, so reach for the Vaseline and hope for the best.
InsolvenCitiers should hope this POS is the final payment by Darlene Harris on her account with the mayor's office.
17 hours ago