Posted By LambChop
Moody investor Services reported that the City of Houston currently holds $3.5 billion in outstanding general obligation bonds payable out of property taxes, which is equal to slightly more than 2% of its property values. Houston also has a monumental debt from unfunded pension liabilities – more than Detroit. Sound familiar? But rest assured that Houston is NOT ABOUT to go bankrupt (like Detroit just did). But neither was Detroit in 2004. Houston's pension plans use an assumed investment rate of 8.5 percent (higher than the assumption used by Detroit and which its emergency manager found to be unrealistic). At a 7% investment rate assumption (as recommended by Detroit's emergency manager) Houston's total debt is almost $20 billion.
While Houston has yet to come up with a plan to pay these bills, Houston’s LGBT Mayor Annise Parker is busy playing identity politics – budgets be damned. Of course, she is taking a page straight out of the Obama playbook. She cleverly deceived voters as to her true intentions and waited until after her re-election to play monarch.
Parker has UNILATERALLY DECIDED to pay city benefits to same-sex couples who have been legally married. Of course, this act is against the Texas Constitution and Houston’s City Charter which clearly states in it 2001 charter amendment approved by vote: “Except as required by state or federal law, the city of Houston shall not provide employment benefits, including health care, to persons other than employees, their legal spouses and dependent children.”
Parker (not an attorney) claims Texas’ DOMA is invalidated by the SCOTUS ruling against part of the federal Defense of Marriage Act. She also claimed because same-sex marriage is approved in foreign countries and 17 states that her action is justified.
So who funds this madness to financially incentivise gay unions? Houston taxpayers? Gay good. Straight, married people bad. Somebody tell Orwell.