Medicine

Pa.'s credit rating lowered - again

Pa.'s credit rating lowered - again

The credit rating agency Standard and Poor's lowered its rating on Pennsylvania's debt, citing the state's stubborn post-recession deficit and its history of late budgets, as well as Standard and Poor's belief that the pattern could continue.

Pennsylvania has been without an operational budget since June, when the Republicans adopted a bipartisan spending plan of almost $32.0 billion.

All of the House's top Republican leaders - including Majority Leader Dave Reed of Indiana County, Appropriations Committee Chairman Stan Saylor of York County and Speaker Mike Turzai of Allegheny County - reacted to the downgrade in a joint statement, also emailed to the news media, that seemed to blame top state Democratic officials for the S&P action. "I have said repeatedly for three years that we must responsibly fund the budget with recurring revenues", he said.

But the general consensus from the House and Senate has been that that's a stretch. "We would be using a significant amount of one-time funds to balance a 2.2 billion dollar hole".

"The Senate understood the need for urgency and acted responsibly in July to fully fund the budget and enact recurring revenues to eliminate the deficit, and my administration has tried for weeks to hold off a downgrade".

More news: Oxlade-Chamberlain needs time to adapt at Liverpool - Klopp

Over the past week, Pennsylvania missed about $1.7 billion in medical reimbursement payments and another $581 million in pension-related bills, S&P noted.

They said the Treasury should let the state keep spending despite the funding gap, because "revenue is still coming in".

Now, Republicans in the House and Senate will attempt to work with Governor Tom Wolf to figure out a compromise.

"If an agreement has not progressed by next week", the governor's statement said, "I will be forced to take further steps to manage this situation". It went nowhere in the General Assembly because Republicans can never raise taxes, even to pay off the debt they created. "We agree with S&P's concerns about the need for stability in our financial plans to address the ongoing structural deficit". Neither has a say in approving the state budget.

The House plan - developed largely by rank-and-file Republicans, including several midstate lawmakers - relies on $630 million in special fund transfers from state funds with excess or dormant monies.


  • 1 shot, shooter arrested at Mattoon High School

    1 shot, shooter arrested at Mattoon High School

    The Mattoon Journal-Gazette reported that police were clearing the high school room by room. Police responded before noon Wednesday for reports of shots fired and a person shot.
    President Trump says USA  is ready to intervene in Venezuela

    President Trump says USA is ready to intervene in Venezuela

    President Donald Trump threatened new sanctions on Venezuela as his administration stepped up efforts to build an global alliance against President Nicolás Maduro.
    Valuation Of Cowboys Increases By 14 Percent To $4.8 Billion

    Valuation Of Cowboys Increases By 14 Percent To $4.8 Billion

    That's up from $770 million in 2012, when owner Shad Khan purchased the team from Wayne and Delores Weaver, according to Forbes . A article published by Forbes on Monday said that the value of the Jacksonville Jaguars has risen to $2.075 billion.
  • Alec Baldwin Defends Sean Spicer at Emmys

    Alec Baldwin Defends Sean Spicer at Emmys

    Heading into Sunday, SNL had won the top variety prize since 1993 - prior to the category's split between sketch and talk. The " Saturday Night Live " Season 43 premiere is set for September 30 with host Ryan Gosling and musical guest Jay-Z.
    Georgia utilities say power restored to nearly  95 percent of customers

    Georgia utilities say power restored to nearly 95 percent of customers

    Electrical linemen from all over the state and the country have worked day and night for over a week since the hurricane struck. Up to 80 percent of the flood damage to residential properties is not covered by any flood insurance, CoreLogic said.
    PM Modi inaugurates world's 2nd biggest dam Sardar Sarovar

    PM Modi inaugurates world's 2nd biggest dam Sardar Sarovar

    Earlier, the Prime Minister had stressed that the project will start a new chapter of prosperity for Gujarat. Rest all the projects of BJP announced in Gujarat were a fake doublespeak, fallaciousness and falsehood.
  • Leaders of S. Korea, Czech agree to strengthen, expand bilateral cooperation

    Leaders of S. Korea, Czech agree to strengthen, expand bilateral cooperation

    The resolution, drafted by the U.S. , was the eighth against Pyongyang over its ballistic missile and nuclear programs since 2006. First, Standard Missile-3 interceptors on Aegis destroyers in the Sea of Japan would attempt to shoot down missiles mid-flight.
    Dow Notches 5th Straight Record Close as Financials Surge

    Dow Notches 5th Straight Record Close as Financials Surge

    Japan's Nikkei share average surged 2% on Tuesday after Monday's national holiday to hit its highest close in more than two years. The Toronto Stock Exchange's S&P/TSX composite index was up 6.18 points, or 0.04 per cent, at 15,179.21 shortly after the open.
    Fortnite quietly enables PS4 and Xbox One cross-platform play

    Fortnite quietly enables PS4 and Xbox One cross-platform play

    It looks like these brief glimpses of the big, attractive world of cross-console play were total accidents. Was it a mistake? In an email Epic said: "We had a configuration issue and it has now been corrected".
  • Gas prices drop as weather cools in Las Vegas

    Gas prices drop as weather cools in Las Vegas

    The most expensive gas reported Sunday in the city was $3.31 at a North Patterson Street retailer, according to gasbuddy. The national average price for a gallon of gas has fallen 4.7 cents in the last week, but is averaging $2.60 per gallon.
    About 1.5 million without power in Irma's wake

    About 1.5 million without power in Irma's wake

    Traffic heading to a checkpoint to access the Florida Keys after Hurricane Irma on September 16 in Marathon, Florida. The company on Tuesday said it expected to have the lights back on by the end of the weekend for the Atlantic coast.
    Trump gets a great deal on lawn care

    Trump gets a great deal on lawn care

    Frank "FX" Giaccio from Falls Church, Virginia, realized a dream on Friday morning when he mowed the lawn in the Rose Garden. While mowing the lawn , his one-time client suddenly walked out onto the lawn: The President of the United States.