Thursday, September 8, 2011

Harrisburg still Calculating Level of State Act 44 Pension Legislation Seriousness

Put these together for yourself:

The Comet: The Three (3) City Money Problems

3 Murky Rivers: An Asset You Have to Believe In

Null Space: Paper Chase

Pittsburgh Business Times: Pittsburgh pension loses out on millions and a follow-up Letter to the editor.

And what should you get?

BOTTOM LINE: If we were lots of different people, we would already be describing in epic terminology to everyone who could be made to listen, what life was like in Pittsburgh all the way from autumn through Christmas, so people might better understand the mere footnote coda trivia of that which transpired as a consequence on New Years' Eve.

Did you find this post valuable and do you not want to choke me? If so, then please consider voting for the Pittsburgh Comet again today in the Most Valuable Blogger thing.


  1. Another fitting musical accompaniment...

  2. "The uploader has not made this video available in your country."

    Alright everybody, start listing yinzers abroad. =)

    But no, seriously, I was about to say: DEAFENING SILENCE.

  3. Apologies, here it is.

  4. A sane reviewer would stamp 'FAIL' on the report and 'RETURN TO SENDER'. Again, why does everyone assume the pension promises are sancrosant and focus only on phoney-baloney-revenues? Capitalizing (expected and probably overly optimistic) revenues from a source not 100% controlled is, shall we say, borderline fraud. I welcome any fellow CPA to say I'm wrong. If I'm wrong, I can't wait to go to my banker and say "Look at all these assets I have!"

  5. Mountineer - Right, and I thought until recently that was the most important consideration, too. But you're still thinking this has to be a matter of Thumbs Up or Thumbs Down, right?

    In reality, They (the royal They, the PA Legislature) might turn their thumb sideways for a while and see what happens. If they do that, expect this year's 2012 annual budget talks to become more strategically important, titanic and insane than usual.

    (Unless the Leg. gives us, say, six months before they put to rest our issue. But my hunch is that's unlikely. I mean, the Senator from McCandless, who helped broker the original arrangement, is likely to be in an agitated mood over what has become of it and over other matters. And in addition there's the Caucus Leader from the North Hills and his policy agenda. Democrats better hope this doesn't become a partisan battleground issue.)