Funding Loans While Facing a Deficit?
The day after announcing more budget cuts, including a wage freeze, Governor Rendell announced $2 million in new state funded loans.
So let me get this straight, one day he’s decrying revenue shortfalls saying, “Everything is on the table for consideration and review. We have to balance our budgetary restraint measures with our obligation to provide quality public services to the citizens of the commonwealth.”
Here’s an idea, don’t loan money when your running a $625 million deficit. If these projects are really that great they’ll attract private lenders- which brings me to the governor’s announcement today. This afternoon the Governor announced that global manufacturing firm Vacon Inc. will establish their North American headquarters in Pennsylvania, and it only cost taxpayers $657,000, what a bargain.