New mayor must have a plan to deal with the structural deficit

The elephant in the room in the city of San Diego’s special mayoral election is the ongoing structural deficit caused by an $8 billion underfunded pension system.

The city’s annual general fund budget is approximately $1.1 billion. This pays for everything from police to libraries.

This year’s payment to the pension system for 17,000 retirees is $275 million, of which $50 million goes to principal and $225 million is lost to interest.

By contrast, the city is only spending $236 million on its fire department, which is responsible for the safety of more than 1.2 million San Diego residents.  Only $55 million is budgeted to repair and maintain our roads, far less than is needed.

Unless the new mayor has a plan to deal with the structural deficit, it will be impossible to keep any campaign promise to get the city back on financial track.

Kathryn Burton

Carmel Valley

Related posts:

  1. Sanders predicts $179M budget deficit next year
  2. S.D. City council hears mayor’s budget cut plan
  3. Del Mar school district faces possible deficit spending
  4. Mayor proposes pay cuts, higher fees
  5. City Council confirms mayor’s choice for fire chief

Short URL: http://www.delmartimes.net/?p=59347

Posted by Lorine Wright on Oct 26, 2013. Filed under Letters, Opinion. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Archives

Facebook

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

LA JOLLA NEWS

RANCHO SANTA FE NEWS

RANCHO SANTA FE NEWS

RSS RANCHO SANTA FE NEWS

  • Community input received on proposed health club and pool facility in Rancho Santa Fe
    About 100 Rancho Santa Fe residents showed up on Friday, Oct. 17, for a health club and pool community meeting, the last outreach before ballots were mailed on Monday, Oct. 20. On the ballots, members are being asked whether the Rancho Santa Fe Association should spend $350,000 on a professional planning phase for the potential new community amenity. RSF Ass […]
  • Czech violin duo to perform at Village Church in Rancho Santa Fe
    In cooperation with the Consulate General of the Czech Republic, the Czech School San Diego hosts a free classical violin concert by internationally recognized Czech violin player Jaroslav Svecený and his daughter, Julie Svecená, who are on a tour of the United States. The concert will be at 7 p.m. Oct. 27 in the Village Church. The father-daughter duo will […]
  • Rancho Santa Fe weekly sports update
    Torrey Pines defeated Canyon Crest Academy 4-3 in a Palomar League opener for both teams on Oct. 9. Alayna Tomlinson and Farah Farjood each scored two goals to lead the Falcons. Samantha “Sammy” Cirino added one goal and one assist. […]