Pa. Gov. Tom Corbett proposes near-term pension relief, in exchange for a long-term fix
Gov. Tom Corbett sounded the alarm bells on Pennsylvania’s public pension crisis in this budget speech Tuesday.
“Billions in new debt to our state is the cost of doing nothing,” Corbett said, in calling for reforms to the state’s two major public employee retirement systems. “The only question is whether we will do it now, when it’s still a manageable problem, or let others do it later, when it’s an all-out-crisis.”
But Corbett’s actual spending plan, with regard to the same state pension systems, makes a careful distinction between now and later.