Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.
Senate signs off on Providence pension bond proposal
PROVIDENCE – The capital city’s pitch to borrow half a billion dollars to pay down its unfunded pension liability could soon become reality, with the Senate approving state-enabling legislation on Tuesday. The Senate’s passage by a 31-5 vote follows a June 1 approval by the House on the proposed $515 pension obligation bond, which requires…
Our so-called democracy has drastically failed us, when less than 4,000 voters can commit 120,000 “voters” to assume $515 million in needless public debt. The self serving politicians who saddled us with this debt should be driven from office immediately.