In Pennsylvania, the Corbett-Cawley campaign today released the following statement in response to Moody’s downgrade of Pennsylvania’s bond rating. Moody’s cites Pennsylvania’s growing pension liabilities as a primary reason for the credit downgrade. Pennsylvania’s pension debt is expected to grow to $65 billion within the next four years, or $13,000 per household.
“Moody’s has cited the Commonwealth’s growing pension liabilities as a primary reason for downgrading Pennsylvania’s credit rating despite millionaire Secretary Tom Wolf’s repeated denial of a pension crisis,” stated Communications Director Chris Pack. “It is a true shame that despite all of the evidence of our state’s pension crisis that Secretary Tom Wolf continues to deny there is a problem at all. It is time for Secretary Tom Wolf to stop denying our state’s pension crisis for his selfish political reasons and instead encourage his Democratic cohorts to do what is right for the 12.7 million residents of Pennsylvania and not just what is best for the Harrisburg special interests.”
The Corbett-Cawley Campaign launched a grassroots petition late last week calling on Secretary Tom Wolf to stop being influenced by public sector union money and support pension reform. The campaign also released a campaign ad highlighting Wolf’s unwavering refusal to even acknowledge that our state has a pension crisis. Since May, Wolf has received $1.13 million in campaign contributions from public sector unions opposed to pension reform.
Corbett’s leadership’s and willingness to address our pension crisis has earned him praise from multiple newspapers, including: