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"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)." The
by 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%.