NYC budget: 20% on pensions, 10% on interest payments
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Date: October 27th, 2015 4:39 PM Author: irradiated lemon gas station preventive strike
20% on "social services." only 12% on police, transportation, and public housing, combined.
http://www.ibo.nyc.ny.us/iboreports/understandingthebudget.pdf
(http://www.autoadmit.com/thread.php?thread_id=3028597&forum_id=2#29053441) |
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Date: March 16th, 2018 9:56 AM Author: chrome locale tank
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: bossy harsh party of the first part
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: Deep sickened ceo useless brakes
*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: Sienna queen of the night house
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: Dark disgusting telephone theater stage
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: Gold Arrogant Indian Lodge Main People
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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