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This page contains a single entry from the blog posted on February 22, 2008 2:52 AM. The previous post in this blog was "We've managed this extremely well -- we lost only $200 million". The next post in this blog is Just like me. Many more can be found on the main index page or by looking through the archives.

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Friday, February 22, 2008

Back over $2 billion

We note in passing that the City of Portland's unfunded police and fire pension and disability liability is back above $2 billion. We had projected it at that level a while ago, but ratcheted back our estimate after the last official announcement of the current liability. Even using a conservative estimate of a growth rate for this debt, it crept back over the $2 billion mark yesterday. And so now it's onward to $3 billion, and beyond.

Comments (1)

I wonder how much variable-rate debt the city has? Any idea? It would be prudent to put the brakes on the borrowing for several years. I hope we get some more fiscally prudent folks in charge after the next election. Not hopeful, though.




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