Harrisburg Is Running Out Of Time To Solve Run-Away Debt Crisis

This City of Harrisburg has found itself $288 MILLION dollars in debt due to a failed attempt to retrofit the city’s incinerator.  The Harrisburg Authority will owe $68 million dollars by the end of the year!  The City is teetering on the brink of bankruptcy. 

Governor Ed Rendell addressed City Council last night and said they should avoid bankruptcy, going under Act 47 (no $%&*), pick a plan and move forward as Harrisburg is running out of time.  He stressed they should all work together as the state and federal government will be hard pressed to bail Harrisburg out of its financial quagmire.

Read the entire article here: http://www.centralpennbusiness.com/component/content/article/35-breaking-news/82014-harrisburg-mayor-no-timeline-for-debt-plan

 

2 comments on “Harrisburg Is Running Out Of Time To Solve Run-Away Debt Crisis

  1. This is shocking!! A city that is overrun by people who take from the system (welfare, section 8, food stamps, etc) is about to go bankrupt? Go figure…I am saddened to think that this is happening more and more in this state (Reading comes to mind). The formula exists in all communities like Norristown, Pottstown, Reading, Harrisburg: Not enough people paying into the system to support the people taking from the system. Add in uncontrolled spending, waste and abuse, and voila! The perfect storm.

  2. Pingback: Harrisburg Controller Riding To City’s Rescue? « Roy's Rants Blog

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