Remember that unlike San Jose and Oakland, SF doesn't have to spend 20% of its general fund on retirements for people who no longer work there because it has so many business HQs to generate tax revenue to offset pension liabilities and it's also a city-county.https://twitter.com/hknightsf/status/1134563915621265408 …
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But hey, at least we aren't Oakland (left) or San Jose (right), which still doesn't have the same headcount or staffing levels that it did from almost 20 years ago because of pension liabilities. https://sanjosespotlight.com/san-jose-pension-plans-unfunded-liability-expected-to-soar/ …pic.twitter.com/69lv7f7buZ
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I don't think we fixed many of the underlying issues that affected our last financial crises, so I agree with that projection and think it could be much worse based on the previous deficit during the last recession.https://www.sfgate.com/bayarea/article/S-F-faces-575-6-million-budget-deficit-3181628.php …
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