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Comment: Another whitewash from The Civic Federation. This piece emphasizes “increased funding” for the pensions, but the reality is that comes much later. The new bill reduces funding a total of $800 million over the first four years. It’s a can-kick, which is why the rating agencies concluded it’s credit negative, but The Civic Federation won’t say that. Memo to Civic Federation: Denial won’t work.

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I’ll say it. They’re idiots.