The underlying research requires review for several reasons, but this report suggests that unique irresponsibility, instead of larger forces, precipitated the City of Pittsburgh's chronic failure to comply with pension obligations.
Other Allegheny County municipalities, and every legislator in the Commonwealth, should consider this point carefully.
Wednesday, August 25, 2010
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2 comments:
The Allegheny institute is to financial analysis what Luke Ravenstahl it to public policy. This study is absolutely meaningless.
As with anything produced by a Scaife-funded operation, this study requires thorough rinsing. That does not, however, render information meaningless. Have other municipalities managed to avoid InsolvenCity's record of mismanagement of invested funds (which, of course, can't be blamed on Harrisburg or anyone else), poor forecasting and habitual underfunding? That issue merits consideration, for a number of reasons.
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