Whosoever therefore shall confess me before men, him will I confess also before my Father which is in heaven. But whosoever shall deny me before men, him will I also deny before my Father which is in heaven. ~Matthew 10:32-33
Phoenix Rejects Fiscal Sanity
Posted: 2014-11-13
11-10-14 Arizona Republic
Why do our cities insist upon committing fiscal suicide time and time again?
"Phoenix voters turned down an opportunity to reform the city's pension system and squandered an opportunity to shore up the city's finances, said a municipal credit-rating agency in a post-election update.
"The vote is a credit negative for the city," which is grappling with a $4.4 billion adjusted net pension liability, said Moody's Investors Service. Phoenix has the sixth-highest adjusted pension shortfall relative to revenues among 50 large cities tracked by Moody's."
If you would like to get the latest news from EVNN, just send an email to
eastvalleynewsnetwork@gmail.com and say "Sign me up" and you will receive our daily news digest at your inbox.