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

   
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