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The city of St Louis is going to get $500M+ out of the
Posted on: April 8, 2021 at 05:00:30 CT
Bulldog Bob Brown STL
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1.9T dollar bill.
It has dramatically underfunded pension liabilities.
There is nothing that will prevent them from taking that $500M and spending it on "approved" uses.
There is also nothing that will prevent them from passing legislation in the city that moves current local tax collections used for funding those "approved uses" and diverting it to other uses, like shoring up pension plans. Whether you want to believe it or not, they use general revenue to fund parts of their bloated city employee, firefighter and police pension funds liabilities.
Yes, they'll be able to point to a accounting entries and say this is how we used the 500M. That will be the end of the forensics on how the money was really spent.
Edited by Bulldog Bob Brown at 05:01:21 on 04/08/21
It has dramatically underfunded pension liabilities.
There is nothing that will prevent them from taking that $500M and spending it on "approved" uses.
There is also nothing that will prevent them from passing legislation in the city that moves current local tax collections used for funding those "approved uses" and diverting it to other uses, like shoring up pension plans. Whether you want to believe it or not, they use general revenue to fund parts of their bloated city employee, firefighter and police pension funds liabilities.
Yes, they'll be able to point to a accounting entries and say this is how we used the 500M. That will be the end of the forensics on how the money was really spent.
Edited by Bulldog Bob Brown at 05:01:21 on 04/08/21
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The city of St Louis is going to get $500M+ out of the - Bulldog Bob Brown STL - 4/8 05:00:30