Our nation's debt is literally indenturing our children to our international debt holders, but most Americans don't care because they are more concerned about the latest saga involving Snooki on Jersey Shore rather than what really matters, our country’s future.

Monday, April 12, 2010

Pennsylvania's Budget Woes

The clock is ticking on Pennsylvania lawmakers to close a state budget gap projected to be between $750 million to $1 billion by July but Pennsylvania is much better off budget wise than its neighbors according to Rob McCord, Pennsylvania treasurer. McCord notes that $1 Billion is significantly less than New Jersey's $11 Billion deficit and New York's $9 Billion deficit. But rather than shutting up McCord goes on to note that Pennsylvania is projected to run a $46 Billion deficit in its state employee pension, in addition to that $1 Billion deficit, over the next fourteen years. But don't worry unions he is still for defined benefit programs (i.e. pensions). By the way he is a Democrat and rose five times as much in his campaign in 2008 against his Republican challenger. So I think it is a safe bet that he'll be the Governor of Pennsylvania in 2012.

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