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… Continue Reading →
This link from a recent release by the Brookings Institution, Robert Puentes comments on the New Jersey and Virgina transportation funds. New Jersey’ transportation trust fund will be spending all of its revenues on debt service by 2011; Virginia’s new… Continue Reading →
Everything you ever wanted to know about state and local government is now in a handbook available for download. The handbook is free but we would like it if you sign up so we can send an occasional e-mail letting you know about new… Continue Reading →
At this point in the meltdown timeline, municipal bond defaults have not yet occurred in the traditional sectors we think about such as cities, towns, states, utility systems and school districts. The few notable exceptions include Vallejo, California, currently working… Continue Reading →
Municipal bond defaults over the last two years occur in sectors that tie into the financial crisis: real estate. Multi-family housing and land development projects that never took off are at the front line. Special entities – usually a district… Continue Reading →
School districts are often considered the safest investments in the tax exempt markets. They receive from 20-90% of their funding from their state governments, most of the rest from property taxes. So what to worry? Well, state governments, whose revenues… Continue Reading →
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