Because it sure seemed like it a couple weeks ago:
LaRue County Judge-Executive Tommy Turner, who’s also president-elect of the Kentucky Association of Counties, says his group favors the idea of a state bond issue to help pay down the pension debt, but only because interest rates are historically low.
“I don’t like the idea of issuing debt to pay debt, but there are the rare instances and rare circumstances where the debt you issue will be at a level lower that what you can gain on the return over the long term,” he said.
But legislative leaders in Frankfort have all but rejected the idea of borrowing money to help fund the system.
Consultants have proposed giving all the POB funds to KERS.
There’s all kinds of drama afoot.