Pension Self-Deception is A New York State of Mind
March 13, 2012 at 09:11 AM EDT
We’ve all heard the saying “borrowing from Peter to pay Paul.” The people who manage New York government finances, however, created a scheme that recently inspired The New York Times to coin a new phrase: “borrowing from Peter to pay Peter.” State and local government employers across the state are borrowing from the state pension [...]