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Phx Pension Debt-Vote Yes on Prop 106

July 11, 2019

Pension Debt Will Bury Us—Vote yes on Prop 106
One of the biggest problems in America at all levels of government is pension debt. It keeps growing because politicians can buy votes by promising higher pensions which they know they will not have to pay for now but will have to be paid for by our children and our grandchildren. Phoenix is no exception to this problem. Our mayor and council have kicked this can down the road for years. The chickens are coming home to roost.
But we have a chance to save our city by voting yes on Proposition 106 on August 27 (or before by mail). This is not a draconian measure. It does not reduce anyone’s pension. It simply requires that the promises we have already made be properly funded instead of running up debt to pay for these obligations, which is what our mayor and council have been doing. Bankruptcy is looming in many governmental entities. Let’s not risk that in Phoenix. Hold our politicians’ feet to the fire and vote yes on Prop 106.

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