The Pension Bomb issue is a hot one....and it threatens to drag down the Pennsylvania budget over the next five years. Illinois, which has a much smaller pension problem than us, is trying to solve that by issuing Pension Bonds, essentially kicking the problem down the road. However,
the bond market is punishing Illinois for this non-solution solution. It will severely limit how much the state can invest in real infrastructure projects that drive economic growth. As I repeatedly alert people....watch Illinois 2011 and you see a picture of Pennsylvania 2014
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