Myth busters. Bond ratings and our pensions.
“The state received more than $9 billion in bids Wednesday from 145 investors for $1.3 billion in General Obligation bonds,” said the post titled “Apparently, it wasn’t much of a catastrophe.”
For years the issue of the state’s bond ratings have been used as a club beat up on retirees for their promised state pension systems.
Four 60 years the legislature has refused to meet its funding obligation so that now the systems are 60 percent