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	<title>Comments on: A Billion Dollar Deficit (Update)</title>
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	<link>http://www.gothamgazette.com/blogs/wonkster/2009/05/20/a-billion-dollar-deficit/</link>
	<description>A blog about the views and spews of editorialists, bloggers and other unsavory opinionated New Yorkers.</description>
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		<title>By: Larry Littlefield</title>
		<link>http://www.gothamgazette.com/blogs/wonkster/2009/05/20/a-billion-dollar-deficit/comment-page-1/#comment-84103</link>
		<dc:creator>Larry Littlefield</dc:creator>
		<pubDate>Wed, 20 May 2009 19:55:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.gothamgazette.com/blogs/wonkster/?p=3894#comment-84103</guid>
		<description>&quot;Much of the mayor’s proposal relies on legislative uncertainties floating in Albany, including a sales tax increase and the creation of a new pension tier, which both need approval from the State Legislature.&quot;

Even if the new pension tier is approved, it would only affect new employees.  The city actuary (in a rare case of guts by the breed) says there would be zero savings for years.

Bloomberg wants him to agree that because the city will be hiring less well compensated workers in the future, that&#039;s a savings that can be spent right now.  Deperation as Generation Greed continues to sell the future even as the future continues to arrive.</description>
		<content:encoded><![CDATA[<p>&#8220;Much of the mayor’s proposal relies on legislative uncertainties floating in Albany, including a sales tax increase and the creation of a new pension tier, which both need approval from the State Legislature.&#8221;</p>
<p>Even if the new pension tier is approved, it would only affect new employees.  The city actuary (in a rare case of guts by the breed) says there would be zero savings for years.</p>
<p>Bloomberg wants him to agree that because the city will be hiring less well compensated workers in the future, that&#8217;s a savings that can be spent right now.  Deperation as Generation Greed continues to sell the future even as the future continues to arrive.</p>
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