The report said Santa Barbara County population was 148,677 in 2018, it had 15 pension plans in its system, a staff of 4,218, paid 49 percent of payroll in contributions and had $2.7 billion in accrued liabilities, almost $2.2 billion in assets market value and nearly $585.8 million in unfunded liabilities.
China is zooming to a record year of corporate-bond defaults, with the 2018 total already more than three-quarters of the previous high even before an expected economic slowdown bites.
Such rapid growth has some analysts concerned about the potential for increased losses in consumer credit as interest rates rise. Total household debt in the U.S. hit a new peak in the first quarter, according to the Federal Reserve Bank of New York. Dean Athanasia, who runs Bank of America Corp.’s consumer banking business, said this month his firm is keeping an eye on consumers “layering” debt by tapping multiple lenders.
Household credit has ballooned to unprecedented levels in Canada, as in many other developed countries, amid historically low interest rates.
First, as the Bank of International Settlements has repeatedly warned, there is a record level of indebtedness in the global economy. It is not just the amount of public and private debt which is worrying, but also the deterioration in average quality. There is now $63 trillion of sovereign debt outstanding, with total debt at $237 trillion, a full $70 trillion above pre-Lehman levels.
The increase is the last of a fare hikes scheduled over the last five years by the Golden Gate Bridge District, which maintains the span. The district is facing a $3.9 million deficit and officials said additional increases are likely.
“Our big costs are structural,” he said, pointing to items like pension costs, which are on the rise in general. “They are largely outside the control of this board and the superintendent.”
Nassau County's rainy day emergency fund had a deficit of $68.8 million at the end of 2017, "severely limiting" the county's ability to cover an "unexpected, catastrophic event," Comptroller Jack Schnirman said Monday.
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