Savings or Loan? Budget Relies on Dubious Pension Savings

Portland Mercury:

AMONG MANY bits of bad news unveiled with his proposed budget last week, Mayor Charlie Hales also had a bright spot to impart.

Beyond the slashing of programs and axing of jobs inherent in filling a $21.5 million hole, the city found significant savings. Hales' budget assumes at least $3.5 million, courtesy of a toxic fight over pension reform in Salem. Maybe more.

It's important money—a felicitous bit of breathing room amid the stifling budgetary dread of recent months. It's also deeply tenuous—suggesting some flux beneath Hales' paeans to "honest" budgeting.

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