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"Moody's has warned that Huntington, Long Island, could lose its top credit rating if the town funnels more money away from public pensions to meet short-term spending needs ... Public employers deferred $1.1 billion in the fiscal year ended in March 2013, up from $293.2 million in 2011, a near fourfold increase, according to data from the New York state's Comptroller's office. The number of public employers using deferrals jumped to nearly 200 in the fiscal year just ended from around 50 two years earlier. About 3,000 employers pay into the system."
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