LINE OF CREDIT LOAN -- UNSPINNING TOM WOLF: DEBATE EDITION
The following is part of a series of real-time responses to the empty rhetoric made by Secretary Tom Wolf during tonight’s Pennsylvania Chamber Gubernatorial debate with Governor Tom Corbett.
A LINE OF CREDIT LOAN TAKEN BY GOVERNOR TOM CORBETT
CLAIM:
Governor Tom Corbett used a line of credit loan from the treasury.
RESPONSE:
Governor Tom Corbett secured a line of credit loan from the treasury to cover operating expenses at a time of the year when revenue intake is typically slow.
This was a maneuver first used in 2009 by Secretary Tom Wolf’s mentor, Ed Rendell, who used it to clean up Secretary Tom Wolf’s mess.
Rendell used this procedure to compensate for revenue projections made by Revenue Secretary Tom Wolf that were so far off that they actually had to create an independent office to check Wolf’s math.
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