Fake the infrastructure spending and stuff pensions instead

Florida Politics: In the first step of a long process, a House panel approved a measure that would allow Jacksonville to “repurpose” a local public-works tax to plug a $2.6 billion hole in the city’s public pension plans.

The Finance and Tax Committee cleared the plan (HB 1297), which is backed by Jacksonville Mayor Lenny Curry.

It would use money collected under the half-penny Better Jacksonville Plan sales tax for the unfunded pension liability in the Police & Fire, General Employees and Corrections Officers pension funds that has built up over decades.

Jacksonville pension problems make up 25 percent of all unfunded pension liabilities in the state, Curry said. 

Larry Summers and Brad Delong want to raise infrastructure spending, but they both know the pension funds are grabbing that money.  Fraud, pure and simple.