8/11 Ups & Downs

Meehan builds a strong war chest, loan agencies eye future budget stalemates, Torsella gets his name around the state, and rainy day funds are close to rainy hour funds.  See who made this week’s Ups & Downs!

 

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Pat Meehan.  For the second quarter in a row, Congressman Pat Meehan had the most cash on hand of Pennsylvania’s Congressional delegation.  Many view Meehan as one of the most vulnerable Congressmen in the state, but building a large war chest can help improve his position for re-election.  

 

 

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Rainy Days.  Pennsylvania’s rainy day fund, that is supposed to help the state get through lean times, currently could only get through a few hours, putting Pennsylvania as one of the worst states in that category.  

 

 

 

Up-Arrow4-2 Legislative Loans.  Loan agencies will be looking forward to future stalemates if the state Senate’s provision in the Fiscal Code to allow the legislature to take out loans to pay legislators and their staff.  With recent pushes to decrease the amount of money pension funds are paying to money managers, looking to spend money on interest payments is not the best look.  

 

 

Down ArrowSERS.  The State Employee Retirement System released its 2016 financial report, and the news was not good.  The system came up short of their expected returns, 6.5% as opposed to the 7.25% expected return, and showed an asset-to-liability ratio of 58%, far below the 80-100% actuaries put a health system at.  

 

 

Up-Arrow4-2 Pipeline Construction.  An agreement was struck between the state government, Sunoco, and protesters to allow construction to restart after a Judge ordered a halt to drilling of the Mariner East 2 pipeline.  

 

 

 

Up-Arrow4-2Down Arrow Joe Torsella.  State Treasurer Joe Torsella has gotten his name in the press across the state this week after approving a $750 million line of credit for the state, but he is getting the coverage in the middle of the summer when most people are looking at the beach forecast instead of what the state treasurer is doing so will it gain him much notoriety.

 

Bonus Up/Down: Every week, PoliticsPA will be including a bonus up or down, that is exclusive to Playbook email subscribers.  To sign up to see the bonus arrow click here.

The tweet of the week goes to Pittsburgh Post-Gazette Reporter Chris Potter for his reminder that mistakes can be made, but they can also be fixed.    

August 11th, 2017 | Posted in Features, Front Page Stories | 15 Comments

15 thoughts on “8/11 Ups & Downs”

    1. Chuckie Porter the rat says:

      Will you jerkoffs please quit with your sales pitch bullshit…PLEASE! You’re making me look bad.

  1. Chuckie porter the rat says:

    Emily Skopov? Was she the Russian lawyer at the Trump jr meeting? Why would Potthead apologize to her…although it don’t sprize me none the way he always go off all dopey on peoples.

    1. Ellen Orr Rusefeltt says:

      You are the dope, Chuckie! Emily Skopov is an acclaimed Hollywood screenwriter and director who has settled in Representative Turzai’s district and intends to challenge him for reelection as a progressive feminist who shares the real values of her constituents. When she wins, you and your mafia boys club can close up shop because WE will put all of you out of business!

      1. Ellen Orr Rusefeltt says:

        Good luck with that. We have feet in both parties so our gang ain’t going nowhere.

        1. Ming the merciless says:

          You really are a dope, Chuckie.you just outed yourself as a self answering troll. If anyone gave a shit what you think, there woild be other comments in addition to the crap you throw.Dont forget to change your name the next time you answer yourself numbnuts.

          1. Chuckie Porter the rat says:

            Zip it, Ming or I’ll call Flash Gorden to zap you on the pecker…again. We know what planet you live on and FYI, what I did is called modern journalistic devices. You chum the waters but sometimes all you get is a suckerfish like you. Dishonesty is the best policy in Trump’s America so get used to it. As for your Hollywood tootsie, I have an idea for a movie…a sassy attractive woman runs against an intransigent and selfish politico…and gets her ass kicked by 20 points…wait…we already saw that movie in the U.S. 12th where smokin Erin somebody got whacked by our boy Rottenfus the idiot. The sequel sucked even more. Maybe it will play in Paraquey but Skopov die a slow political death here. We have already sent my little cousin Stevie, junior junior to romance her out of the winners circle. P.S. “f@&$ ¥€€!”

  2. Mike C says:

    With the state of the SERs, have the actuaries run the numbers to see at which point we will run out of money. It is a dark looming cloud that is sucking the finances dry.

    1. Isaac L. says:

      If the money runs out, the taxpayers are on the hook for 100 percent of payments to retirees. This is why you don’t borrow money from pension systems without a plan to pay it back. Lots of irresponsible decisions from lawmakers over the years looking to balance budgets by shortchanging their contractual obligations to workers who held up their end of the bargain.

      1. Scoop says:

        Absolutely right, Isaac

        1. Barricks Einwohner says:

          Agreed.

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