Because of Corbett's budget tricks, Pa. is taking out $1.5 billion loan to pay bills

[JPZenger]

http://www.ydr.com/ci_26543035/pennsylvania-lend-itself-up-1-5-billion-because?source=rss

Corbett and the Republican-controlled legislature adopted a budget full of one-time tricks and optimistic projections to make it appear to be balanced. The problem is, the State's bond rating has fallen, and the state cannot pay the current bills. As a result, Pa. just had to take out a $1.5 billion loan to pay its current bills.

Corbett and the Republican-controlled legislature repeatedly refused to enact a severance tax on natural gas. That tax is in place in every other state with a natural gas industry. They also refused to enact a tax on cigars and chewing tobacco. PA. is the only state in the country that does not tax those products.

Corbett and his allies have screwed up the state's finances. As a result, they are leaving a big flaming pile of dog crap on the doorstep of the Governor's Mansion for when Governor Wolf arrives. He will have to make unpopular decisions to deal with the mess they have left.

The Democratic members of the Legislature have repeatedly been shut out of budget preparation meetings.

[yeoman6987]

1. I think he knows he is toast

So he is going to make it harder for Govermor Wolfe to govern the state effectively.

[JPZenger]

2. Only 3rd time in 14 years that state has negative cash balance

The State Treasurer said they had reliable records for 14 years. In that time, twice before the state had a negative cash balance. Both those times were in the worst depths of the Great Depression.