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09-02-2011, 12:46 AM #1
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Pa. State Capital Harrisburg bankrupt: State Takeover
Wednesday, August 31, 2011 9:18 PM
State Takeover of Pennsylvania State Capital Harrisburg Likely Coming Up as City Council Rejects Mayor's Fiscal-Recovery Plan
State Takeover of Pennsylvania State Capital Harrisburg Likely Coming Up as City Council Rejects Mayor's Fiscal-Recovery Plan
Harrisburg, Pennsylvania is bankrupt and has been for years. Instead of recognizing that simple fact, the mayor and most of the city council have been looking for miracles.
There are no miracles and there will be no miracles. Fortunately, and at long-last, the city council rejected Mayor Linda Thompson's scheme of selling city assets to deal with debt issues.
Harrisburg now faces a state takeover.
Please consider Harrisburg City Council Rejects Fiscal Plan to Rescue Pennsylvania Capital http://www.bloomberg.com/news/2011-09-0 ... pital.html
Harrisburg’s City Council rejected a fiscal-recovery plan proposed by Mayor Linda Thompson, putting state aid at risk and leaving Pennsylvania’s capital in financial limbo.
By a vote of 4-3, the council turned down the mayor’s blueprint, which called for asset sales. The proposal wouldn’t provide a guaranteed fix of the city’s debt problems and, by selling off assets, raised the possibility of higher taxes later, said Councilman Brad Koplinski.
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