November 18, 2010

Where did the stimulus money go in San Francisco?

Pro Commerce reports that the stimulus money - almost $250 million - received by the city of San Francisco, was used entirely to subsidize the pensions of city employees, thus closing the city's budget deficit.

If you do the math, the city's retirement costs for employees in the past 10 years actually grew only 66,733 percent.

Posted by Jill Fallon at November 18, 2010 2:16 PM | Permalink