Powder Blue Report

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Saturday, January 21, 2006

More OC Pension Folly From The Board Of Supes

Let me make sure I have this straight. The OC BOS accept huge contributions from the local county employee unions. Then they vote for the county to cover a huge unfunded liability in the form of increased pension payments in the future. Now according this OC Register story, The Supes are going to float bonds and go into debt to finance our pension obligations. Did I miss something here? That would be like me or someone else cash advancing our credit cards and then using the proceeds to fund our IRAs. This is absolutely ridiculous. I guess we can now say that the county government is a wholly owned subsidiary of the union bosses. Check please.


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