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Yes, Scal, that is more or less what they're doing -- they're making it seem like the city is, right now, on the hook for $1 billion. It isn't.
Your analogy is correct, this claim is based on ignoring how the city will actually address the debt in the future.
As far as the two-time loser, we've already seen that there is no standard too low that he won't find a way to go even lower.
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