This is not going to come as shocking news to anyone, but just in case you still had any doubt, Gov. Ed Rendell yesterday issued this economic update to Pennsylvania residents:
We’re in trouble.
The state’s economic outlook continues to get worse. That budget deficit, which started out at about a billion dollars, is growing.
The red ink in Harrisburg is now flowing to the tune of $2.3 billion. That’s up from the $2 billion figure the governor announced last week.
Let me put this bluntly: This is an economic train wreck. The state is now rivaling the city of Philadelphia in terms of economic unease.
Rendell yesterday had glum news for state employees. The economic nosedive likely will cost some of them their jobs. Not sure if that will include the former state rep that landed a $95,000 new post despite a hiring freeze.
The governor talked plainly about what is coming, and he had a warning for workers.
“There will be some layoffs and there will be universal pain,” he said at a press conference in Harrisburg. “I don’t want to hear whining. I think everyone has to tighten the belts.”
I guess the governor hears enough whining from Eagles fans on his duties as a guest analyst on the post-game shows on Comcast SportsNet.
Rendell did offer one bit of good news for state residents.
He is vowing to avoid hiking the state’s sales or personal income taxes. At least for now.
Of course no one is really sure where the bottom is in this economic morass. The budget deficit grew by $700 million in just the last month.
Rendell will present a budget to the Legislature the first week in February. Here’s a prediction: It won’t be pretty. And here’s another one. State law requires that the budget be approved by June 30 at midnight.
Better stock up on midnight oil, legislators. And don’t make any plans for the Fourth of July, either.
We’re in trouble.
The state’s economic outlook continues to get worse. That budget deficit, which started out at about a billion dollars, is growing.
The red ink in Harrisburg is now flowing to the tune of $2.3 billion. That’s up from the $2 billion figure the governor announced last week.
Let me put this bluntly: This is an economic train wreck. The state is now rivaling the city of Philadelphia in terms of economic unease.
Rendell yesterday had glum news for state employees. The economic nosedive likely will cost some of them their jobs. Not sure if that will include the former state rep that landed a $95,000 new post despite a hiring freeze.
The governor talked plainly about what is coming, and he had a warning for workers.
“There will be some layoffs and there will be universal pain,” he said at a press conference in Harrisburg. “I don’t want to hear whining. I think everyone has to tighten the belts.”
I guess the governor hears enough whining from Eagles fans on his duties as a guest analyst on the post-game shows on Comcast SportsNet.
Rendell did offer one bit of good news for state residents.
He is vowing to avoid hiking the state’s sales or personal income taxes. At least for now.
Of course no one is really sure where the bottom is in this economic morass. The budget deficit grew by $700 million in just the last month.
Rendell will present a budget to the Legislature the first week in February. Here’s a prediction: It won’t be pretty. And here’s another one. State law requires that the budget be approved by June 30 at midnight.
Better stock up on midnight oil, legislators. And don’t make any plans for the Fourth of July, either.
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