It sounds like the state was anxious to spend all the tax revenues and all the employee pension money. They were trying to hide the theft of the pension money by issuing bonds. Stinking politicians. They're always running out of other people's money.
Our local city government is constantly trying to dodge their responsibility to have enough liquid assets on hand to cover their liabilities for pension, overtime and vacation owed to the employees. I've had to remind them a few times that it isn't their money to spend.
Our local city government is constantly trying to dodge their responsibility to have enough liquid assets on hand to cover their liabilities for pension, overtime and vacation owed to the employees. I've had to remind them a few times that it isn't their money to spend.LOL! No, but all those "pension plans" are loaded up with taxpayer funds, so they figure they may as well spend it.
Man, I wish I had a "pension plan" like government parasites get.