January 23, 2007

THE CHICKENS ARE COMINIG HOME TO ROOST AND GUESS WHO PAYS FOR THE NEST? THE TAXPAYERS AGAIN

Watchdog has been warning our readers for several years that GASB 43 and GASB 45 would have to be implemented soon. The City and the MLGW has been putting this off until after the October 2007 elections this year. No one was listening to watchdog but finally the Commercial Appeal finally printed a story about this financial obligation which is going to cost millions in new tax dollars. Click below to read the story.

http://www.commercialappeal.com/mca/local/article/0,2845,MCA_25340_5295929,00.html

Also shown below is the story that watchdog published in May of 2006 after first warning about this obligation in October of 2005. We should now consider changing our retiree health care benefits for future employees as well as the whole pension system for public employees.

Click here to read the watchdog article published last year about thie huge taxpayer liability that is now coming due