Archive for November, 2012
Friday, November 9th, 2012
Yesterday Mayor Luke Ravenstahl and his allies in the state legislature and on City Council lobbied representatives of the PA Department of Community and Economic Development to remove Pittsburgh from Act 47 financial oversight.
While Pittsburgh has certainly made progress since 2003, when out of control spending and shrinking revenues nearly bankrupted the City, the plan that was put in place to create a new model of fiscal sustainability is far from complete.
Councilman Bill Peduto was the sole elected official to speak out at yesterday’s hearing for maintaining oversight until we are truly out of the woods. There are still too many serious fiscal issues left unaddressed to stop now – from pension reform to the City’s relationship with its large nonprofit institutions.
To download the presentation Councilman Peduto gave at yesterday’s hearing, click here.