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: Calculated RiskN.Y. State "classic budgetary sleight-of-hand"
By Anonymous
Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund.Oh my ...And, in classic budgetary sleight-of-hand, they will borrow the money to make the payments to the pension fund ? from the same pension fund.
Full post as published by Calculated Risk on June 12, 2010 (boomark / email).
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