Tag: states


The Illinois Comptroller’s April report  is scary reading.  The state is $4.5 billion in arrears on payments to vendors and others (like school districts and service providers) with no end in sight.  The Comptroller expects 2011 to be worse.  The following chart Read more…


As this article from the Tax Foundation states, you can’t make this stuff up…


We have two opposing camps in the muni-market at the moment: those who say it is the next systemic shoe to drop and the rating agencies that are systemically raising ratings. Which is right? We have moved from a market Read more…


The tables below are for contextual reference as state and local governments face draconian spending cuts.   The combination of public policy with the several bubble periods over the last twenty-five years has created a toxic brew.  Some state and local governments are Read more…


Several states are showing scary illiquidity.  New Jersey’s governor just yesterday impounded funds the legislature had already appropriated and announced a state of emergency.  He stopped short of “declaring” emergency, which would have given him special powers over contracts.  New Read more…


Oregon voters passed Propositions 66 and 67 yesterday which support Governor Kulongowski’s budget proposal.  The following link will give you detail on the propositions, the vote, the key donors to each campaign and the groups advocating pro and con.  Oregon is Read more…


Midterm congressional elections will be lively this year.   Conditions are ripe for tax and spending initiatives and numerous recall elections are also on the popular agenda.  Budget deficits, rising taxation and runaway spending are factors leading to tax and spending limitations.  Read more…


The slowdown in migration in the U.S. has significant consequences for municipal finance.  New population growth in a community has been the driving force in municipal infrastructure finance since the beginning – and the slowdown we have seen over the Read more…


State legislatures, required to balance their budgets, are up against the wall.  Budget gaps have worsened mid-year.  When you total the gaps going into the budget for FY2010 with mid-year fissures you come up with more than $190 billion according Read more…