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Are Public Pension Obligations Debt, or Are They Values?
The Bond Buyer Link to more items from this source
Apr. 23, 2012

"'I don't think pension benefits are a debt,' said [Richard] Brodsky, a former New York State Assemblyman.... '[A distinction has to be made] between debt and social and legal obligations we have to fill.... Who are you going to hit and who's going to suffer?' [but a stark reality is that] New York City and others face soaring pension, Medicaid and retiree health care costs. Yonkers is teetering. Suffolk County just declared a fiscal emergency. Its Long Island neighbor, Nassau County, is under a fiscal control board."  MORE >>

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