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No, there’s a $250M deficit annually, and a total of $10B in future liabilities. Coincidentally, that is the same amount as the entire annual budget. But $10B
by avalys 9y ago
No, there’s a $250M deficit annually, and a total of $10B in future liabilities. Coincidentally, that is the same amount as the entire annual budget. But $10B is the right number.
- danielvf 9y ago"Using the official numbers, San Francisco is $10 billion in the hole ($4.2 billion of health care liabilities, plus $5.8 billion of pension liabilities)." Then later, he estimates that the actual amount is approximately twice that, since the official ten billion figure is based over optimistic assumptions.
- kaennar 9y agoHe states that it could be twice that not that the actual amount is that value. He was stating that the 7.5% return they wanted is not likely, that 6.5% is much more likely, and that he wouldn't be surprised if the return was less than that 6.5%.