No credibility: Chron editorial board on muni pensions
Just before Christmas, we were amused by a Chronicle editorial with the following headline:
Pension perils: Our city cannot keep avoiding this issue. Leaders must deal with unfunded liability
The editorial praised Mayor Annise Parker, who has lately been talking tough about tackling Houston's massive unfunded municipal pension liabilities.
The existence of those massive unfunded liabilities must come as a shock to folks who ran with the "Bill White for Texas" campaign talking points, like some gullible columnists in the DFW area.
For that matter, the existence of massive unfunded liabilities might come as a surprise to readers of the Chronicle editorial page. Here's what the editorial board had to say in May 2007 about the problem:
While Mayor White has not yet solved the city's pension problems, the rampant cost overruns are slowly being brought under control. With a maximum three years left at the city's helm should he seek another term, the mayor should focus on bequeathing to his successor a pension system on a permanent and firm financial footing.
And here's what the same editorial board had to say in February 2010 when the newspaper endorsed Bill White in the Democratic primary for governor:
In his six years running City Hall, White presided over a financial reorganization that reduced unfunded employee pension liabilities, aggressively promoted toxic air pollution enforcement, crafted innovative public safety programs, and ably directed the city's response to an influx of Hurricane Katrina refugees from New Orleans and the subsequent threats of Hurricanes Rita and Ike. In doing so he proved his executive mettle and worthiness to lead state government.
As the editorial board says now, "our city cannot keep avoiding this issue." So apparently things were not quite as rosy as this board once said.
Posted by Kevin Whited @ 12/31/10 05:41 PM | Print |
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