Posted on 07/16/2012 5:33:13 PM PDT by dynachrome
Moody's Investors Service downgraded Pennsylvania's general obligation debt to Aa2 from Aa1 on Monday, citing concerns about the state's growing unfunded pension liabilities and a slow economic recovery.
The cut comes just before a scheduled July 24 sale of $363.6 million in general obligation refunding bonds, which Moody's rated Aa2 on Monday.
Related bonds were also downgraded a notch, Moody's said. The actions affected about $13 billion of Pennsylvania's GO, appropriation-backed and GO-related debt.
(Excerpt) Read more at reuters.com ...
Tic...tic...tic..., slowly until the whole nation is at each others throats for their personal "0bama" share.
Why do they NOT do a Scott Walker?
Why do they NOT change these public union pensions to 401ks?
Why do they NOT stand up for the taxpayers who elected them?
He talks about it,but who know how far the rot has spread?
“Governor Tom Corbett has recently said that Pennsylvania would soon reform its public pensions.
“It’s going to be a working summer to start coming up with some recommendations, because I don’t think there is a silver bullet to this”
Ping
Our governors in PA are in the RINO tradition and the legislature has Republican RINO leaders who get money and or endorsements from the teachers union (Pennsylvania State Eduation Association).
Governor Tom Corbett doesn’t have ten percent of the stuff that Scott Walker has and he’s wimpy compared to Chris Christie who I consider to be a RINO but at least one willing to demand concessions from unions (copay for health insurance costs) and ask for salary caps on school superintendents.
PA Ping!
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