The Mayor tells us we have a balanced budget. That only means that the City is able to pay its bills as they come due. That does not mean we have fiscal health. Spending today is up by about 10 million dollars from what it was when this Mayor took office. We are able to sustain this spending only because of the economic recovery that has led to increased revenues. However, we have over $150 million in bonds to pay off, and have not addressed serious issues with City pension liabilities. Those may not be serious problems a year or two years from now, but we must structure the City's finances with a view toward coming decades, not just coming years.


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