State’s bond history and already badly funded pension shows little room for maneuver.
Their 0.65% increase last month makes up more than two-thirds of this year’s increase.
Moody’s warns that without public cuts, liabilities will eat 30% of state income.
Fear of a downturn creates a rise in de-risking.
Concept being applied to additional city departments.
SUAA proposal to be entertained Jan. 30.
Since bonds are rarely traded, pricing is difficult to verify, making it “ripe for abuse.”