Friday, August 10, 2012

Lawmakers Finally Put Pension Crisis on Agenda

No one wants to talk about it, but the state is facing a massive pension problem, currently at $40 billion and growing.

But it looks like state lawmakers are finally going to stop playing possum and start dealing with this mess. According to the PA Independent, the first step on the long and rocky road of pension reform will be taken Tuesday morning at a joint hearing of the House State Government Committee and the House Finance Committee.

This merits close attention, because the pension problems are very real and could cripple the state in years to come. More importantly, they are NOT due to the recent economic slide, so even a strong recovery won't make them go away.

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