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YIKES! We are entering a zone that reminds me of Jimmy Carter discussing nuclear proliferation with 9 year old Amy. Regarding unfunded liabilities in this State plus the number of items over the last 20 years that have been moved out of capital budgets to bonded debt and yes we do have serious problems. Don't think for a second that a copy of the Central Falls decision hasn't occupied a space on every Mayor or Town Managers desk as a possible resolution. Put another way, because the unfunded liability isn't included as part of a budget and only garners attention when an actuary or the Auditor General speaks is like going to Truro on Cape Cod during the summer and saying "Sure, I know great whites are around, but I don't see a fin therefore its OK to go swimming." Cushman is right why politicians don't want a 5 or 10 year look into the future for projections...They can't handle the truth and fear the public backlash once the house of cards and Madoff accounting principles are exposed.

From: Mayor touts city's financial position

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