Government Debt

Recent Issues

Tracking State Budget Trends

The 2016-17 General Fund budget added to Pennsylvania’s fiscal challenges. Lawmakers approved the $31.6 billion budget without implementing meaningful reforms or authorizing enough revenue to balance the budget. Despite lacking solid revenue sources, the legislature increased spending by $1.6 billion—a sum vastly exceeding the combined growth rate of inflation and population.

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Pennsylvania Deficit Watch

New IFO Report Emphasizes Need to Reform Spending

Yesterday’s Independent Fiscal Office (IFO) mid-year report warned Pennsylvania could face a $900 million budget shortfall this year alone. By 2022, this deficit could reach $3 billion per year.

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Pennsylvania State Budget

Pennsylvania State Budget Toolkit

The enacted $29 billion General Fund budget (a 1.88 percent increase over 2013-2014) and $71.4 billion total operating budget represent Pennsylvania’s highest spending levels ever—exceeding years when federal stimulus dollars were used to balance the budget.

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Recent Blog Posts

empty wallet

Op-Ed: Biden's spending binge makes Americans poorer, just before the holidays

Biden and his allies in Congress need to stop this destructive spending now.

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A Report on the Public Credit

The state government uses special entities to borrow in excess of the constitutional debt limit and make loans and guarantees that would otherwise be illegal.

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It Won't Get Easier: Our Take on the State's Five Year Outlook

Last week the Independent Fiscal Office presented its latest five year projections. They describe a government habitually unable to balance its books, even in today's strong economy.

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