Free Republic

State Senate Democrats say borrowing nine billion dollars is the best way to address the state's rising public pension debt. It's a shift from a caucus that has previously supported a wait-and-see approach with the 2010 law that reset scheduled payments into the pension systems. Those payments are set to increase by hundreds of millions of dollars over the next several years, eating up precious funding for other government programs, only to decrease again in 20 to 30 years. Now they Senate Democrats say a $9 billion bond could refinance some of the pension debt. Sen. John Blake (D-Lackawanna) said...