NYC budget: 20% on pensions, 10% on interest payments
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Date: March 16th, 2018 9:56 AM Author: primrose nowag
bingo.
hell, even look on a smaller scale at individual towns and school budgets. long term obligations to employees can't be cut by towns, so any time residents want to control spending the first things cut are always enrichment programs and the like at schools, and then things like buses, etc.
glad they are looking out for the kids!
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#35618388) |
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Date: October 27th, 2015 6:06 PM Author: Motley immigrant
depends who you want to blame
pensions are bad because they aren't treated like what they actually are.
wahhhh, our incomes are low. no, assfucks, you aren't including the value of your pension. huh?
according to these projections, our pensions will be unsustainable in 13 years. 13 years? get out of my office
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#29054028) |
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Date: October 27th, 2015 6:12 PM Author: Cheese-eating becky
*MORON ALERT*
BOND PAYMENTS ARE INTEREST ONLY
*MORON ALERT*
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#29054077) |
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Date: March 21st, 2018 1:38 AM Author: pearl azn
I'm not a muni guy so bear with me, but i don't think this is a great example. Seems like you could both be technically right.
Those 3 letter designations on the right are CUSIPs (or the end of them). Each of these is a separate bond. I'm not going to read this OM but I'm going to assume that there's no sinking fund on any of them. If that's true, none of the individual bonds amortize.
That said all these individual bonds seem to be raised as part of a series. If you think of the series as a bond (which isn't idiotic since it probably correlates with a fiscal year's required financing), then the series effectively amortizes by having individual bonds mature.
I also wouldn't be surprised if there are munis out there that do have sinking fund provisions (esp revenue bonds or project financing).
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#35650739) |
Date: March 16th, 2018 9:47 AM Author: effete scarlet heaven
NY has so much money coming in that they’ll be fine. They can always do stuff raise prop taxes on anything worth over $2M and soak the Chinese buyers who own all of those empty condo.
It’s secind tier citie/states like Chicago and New Jersey that are fucked.
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#35618313) |
Date: March 16th, 2018 10:41 AM Author: Wine piazza
Isn't 90% of the city tax currently used to pay pension obligations?
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#35618671)
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