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To: Sun Tzu who wrote (5032)	8/8/2022 2:20:46 PM
From: Kirk ©	Read Replies (1) \| Respond to of 10709

Don't forget to calculate the hidden debt of under funded pension plans. Here in California the cities get hit with big bills to make up some every year so they divert funds from services, usually fixing roads and fighting crime, to pay the pension funds. Now with the pending "Inflation Reduction Act" our US congress is about to pass, the pension funds will see lower returns going forward and have to either increase contributions from public employees, increase payments from cities or kick the can down the road towards future insolvency.