Bogged Down: Miami Politics Weighs Down Finances

Oct 3, 2012
Lead in text: 

We discovered a fresh take of what's really happening down in Coconut Grove—City Hall is trapped in a death spiral of inertia and bad mistakes and some are pointing to worker compensation.

Source: Miamiherald

Pension costs, meanwhile, are up significantly, in large part because investments by the city’s two pension boards have underperformed expecta- tions.Experts have raised red flags about the city pension program before.In a stinging report last month, Moody’s blasted Miami for ballooning pension and healthcare spending. The rating service warned that the combined costs could account for one-third of total spending by 2017 unless leaders make sweeping changes.

Read more at: Miamiherald
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