Comments 4

  1. “Adopt the Pension Reform Committee Recommendations in Whole.”

    In 2004, Carl DeMaio sanction the use of $600 million in Pension Obligation Bonds. See Pages 21 and 22.

    http://www.performanceweb.org/pdfs/sdbudget-6648.pdf

    The Final Report from the San Diego Pension Reform Committee chaired by April Boling the President of the San Diego Taxpayer Association (SDCTA) dated September 15, 2004 recommended the City issue a total of $600 million in Pension Obligation Bonds (POBs).
    See Pages 14, 31, 32, and 65.

    http://www.sandiego.gov/pensionreform/pdf/finalreport.pdf

    However the recommendation for $600 million in POBs by the San Diego County Taxpayer Association and okayed by DeMaio could not be fulfilled because San Diego was prohibited from the Bond market from 2004 to 2008.

    Unanswered questions:

    What was the interest rates for POBs in 2004 compared to today.

    Have the POB Interest Rates dropped or increased since 2004?

    What were the assumptions and time table for repayment in 2004?

    How much money would the City of San Diego save by keeping the same 15-year timetable for repayment of POBs, coupled with today’s historically low interest rates?

    The San Diego Pension Reform Committee with help from the SDCTA should update their report.

  2. I disagree with with the premise suggested here. The inference is that we can’t trust Bob Filner. There’s few people I trust more.

    I trust Bob Filner to support raising taxes.

    I trust Comrade Filner to cave in to labor union demands at every opportunity. He’s the best politician that their money can buy.

    I trust Filner to gut pension reform.

    I trust Bob to, in essence, obstruct further movement towards managed competition, and to block 100% any further contracting out — not to mention end existing privatized contracts whenever possible.

    Indeed, I trust Filner to support every fiscally irresponsible and anti-taxpayer policy he can influence.

    Few politicians are that consistently trustworthy.

    Join me in trusting Bob Filner. He’s earned it.

    Just ask the union bosses.

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