Why only 20 years? Why not 30 years? That statement really makes no sense at all. How much was your house worth 20 years ago? How much was a tank of gas? Gallon of milk? Clothes for your kid? Units for a college course. Sometimes I think you really get off track. Most of the time you're a one dimensional guy......the city pension fund is only X amount funded. There was a land deal 400 years ago that the city swept under the carpet. Start becoming more current. Old arguments are just that......Old.
Ok, you win go back 30 years and list all the data from then.
The point I was trying to make is that City just didn't get itself into this financial situation, its been building to this point over the years. One would think the salaries and benefits would have increased proportinately relative to inflation give or take a few percentage points over the years. Why not list all the data and see if this is accurate or not?
I'm all for comparing costs of those things you mentioned, that is why I suggested factoring in the costs of inflation. I'd sure hate to find out the City of Folsom was taking advantage of its public servants by not keeping up with inflation.
I'm going to keep asking where the funds to pay for the unfunded pension obligations are going to come from, because I don't know. Asking questiosn about things I don't have answers for is one those bad habits I've picked over the years. I figured a multidimensional intelligent guy like yourself could explain that to me and the rest of us on here, who don't know.
Its ironic you brought up the land deal where the City left about $14 million on the table. As I recall we used to have a surplus of about $16 million and now its down to about $2 million. I'll let you do the math on that one!