Houston's Finances

The Houston Business Journal cites finance fellow John Diamond's calculations on Houston's pension debt:
http://bit.ly/1RTvnnM (subscription required)

"John Diamond estimates that the true pension debt is over $10 billion, and that does not include another $2 billion we owe our employees for health care during their retirement. Additionally, that our infrastructure is in the worst shape in generations and is in desperate need of additional investment."