By Christen Smith (The Center Square), includes “… Truth in Accounting likened city officials’ habit of underfunding pensions to ‘charging earned benefits to a credit card without having the money to pay off the debt.’ Instead, the funds are directed toward ‘politically popular programs,’ leaving future taxpayers to cover the losses. The tactic only makes budgets appear balanced, the report concludes.”
Read the full article on: University City Review (Pennsylvania)