The Morning Report
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Tuesday, Oct. 28, 2008 | We just found that the pension fund lost $789 million in its investments. How much more money will taxpayers need to shell out to bring the funding levels up? Mayor Jerry Sanders says we are $40 million short in our budget. Calpers announced they are short in their investments and may take money from the city. That could be close to a $150 million shortfall in total for the city. I don’t think a 10 percent cut is going to solve the problem.
What are City Council candidates saying about this problem? Has the watchdog [District 7 candidate Marti Emerald] barked at this? Has she even given it a good sniff? Is her opponent April Boling going to be able to stand up to the unions? I have more faith in a cost-cutting accountant than a lapdog for the city’s unions.