INTERIM. 3 Points Informed Intel from Houston Chronicle Editorial on Local Debt

What’s the cause of Houston’s financial obligations?

• pension liabilities
• years of structural deficits
• spike in debt payments

What triggered the reaction? Moody’s downgradfing Houston’s credit rating on $3 billion in general debt, which will make borrowing more expensive and cost Houston taxpayers more

What solutions are identified?

• stable and growing economy
• removing the revenue cap
• fixing Houston’s pensions (with a special eye on the Houston Fire Department)

Houston Chronicle Editorial | Debt crisis