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Smart Talk is a daily, live, interactive program featuring conversations with newsmakers and experts in a variety of fields and exploring a wide range of issues and ideas, including the economy, politics, health care, education, culture, and the environment.  Smart Talk airs live every week day at 9 a.m. on WITF’s 89.5 and 93.3.

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Host: Scott LaMar

Radio Smart Talk: Independent Fiscal Office on budgets, taxes, and revenues

Written by Scott LaMar, Smart Talk Host/Executive Producer | Nov 27, 2012 9:03 AM

Radio Smart Talk for Tuesday, November 27:

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The statistics say the economy, both nationally and in Pennsylvania, is improving.  However, recovery from a recession that began in 2007 has been ever-so-slow.

One doesn't have to look far to find some less than stellar economic news either. 

In fact,  Pennsylvania's Independent Fiscal Office has made a few recent projections that are reason for concern.

The IFO is forecasting state revenue growth of just 0.8% for the next fiscal year.  That compares to a 3% increase in the amount of revenue the state is collecting during the current fiscal year -- which by all accounts is as tight as can be.  Worse yet, public employee pension obligations may eat up the increase and much more.

Then, there's the fiscal cliff we hear so much about.  If Congressional Republicans and Democrats don't reach a budget agreement by the end of the year, there could be a series of spending cuts and tax increases that most economists believe would send the country back into a recession.  The IFO says going over the fiscal cliff could cost Pennsylvania taxpayers $22 billion.

Matthew Knittel, director of the state's Independent Fiscal Office, will appear on Tuesday's Radio Smart Talk to explain.

Listen to the program:



Matthew Knittel, director of the state's Independent Fiscal Office, talks about Pennsylvania's financial outlook.

Published in News, Smart Talk

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  • Radio Smart Talk img 2012-11-27 09:41

    E-mail from D.:

    "If the pensions were invested in the stock market, and that means 'risk,' why are taxpayers expected to cover those types of 'risk' losses? It's like playing poker and losing but still walk away with money."

  • Radio Smart Talk img 2012-11-27 09:56

    E-mail from Lee:

    "Can you ask your guest if the dramatic decrease in number of public employees across the State has increased our State's unemployment rate and caused substantially decreased revenues?"

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