Johnstown, Scranton and others see declining populations, pension deficits
PA INDEPENDENT: [Harrisburg] may be grabbing headlines as it teeters on the edge of financial disaster, but Pennsylvania’s cities are facing economic problems beyond those in the capital.
Dwindling populations, underfunded public pension systems and an over-reliance on property taxes are driving expenses up and keeping tax revenue down in the Keystone State’s metropolitan centers.
The Great Recession has laid bare poor fiscal decisions from the past few decades, and tighter strings that limit state-level spending leave little hope of government bailouts. .. (more)
