Pennsylvania risks ‘worst fiscal crisis’
From the PITTSBURGH TRIBUNE-REVIEW:
State spending increased at nearly twice the rate of inflation since 2003 when Gov. Ed Rendell took office, and the state’s financial situation could worsen dramatically next year, Auditor General Jack Wagner said Wednesday.
The state budget grew about 33 percent, from $21 billion to $28 billion, during Rendell’s tenure as the Consumer Price Index rose about 18 percent, Wagner said.
As a result, the Legislature and the next governor “face the worst fiscal crisis in our history” when they craft a 2011-12 budget next year — one that could have a deficit of as much as $5 billion, said Wagner, a Democrat like Rendell…
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