City Attorney Mike Aguirre called today to converse about our story today on other officials’ acknowledgement that it won’t end up keeping its $600 million commitment to employees.
In the article, the Mayor’s Office and Council President Scott Peters blamed Aguirre’s refusal to sign off on pension bonds as the obstacle barring the city from making good on the $600 million promise.
Aguirre said he was frustrated that he was being made the scapegoat when, in fact, he would entertain bonds as a way to come up with the remaining $493 million that the city needs to pay by June 30 in order to fulfill its commitment to Local 127. In 2005, the union demanded the $600 million pledge as a condition of their agreement to take a pay cut.
“Come forward with it, we’ll take a look at it,” he said.
But, a moment later, Aguirre reiterated his stance that bonds are an imprudent way to help pay off the pension system’s $1 billion deficit.
“We can’t borrow anymore money, we’re done borrowing,” he said.
I asked him how he can reconcile the seemingly different stances. He partly withdrew the second, stricter comment.
“That’s my opinion now, but if they have a way to do it, we want to see it,” said Aguirre, who spiked pension borrowing plans twice — in 2005 and in 2006. “It’s all talk now, let’s see it on paper.”