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Why Have US States Fared Better Than Euro States Since The Great Recession?

Mon, 29 Apr 2013 13:39:04 -0400

Standard & Poor’s examines why the credit quality of US states has fared better than that of Euro member states during the “Great Recession.” Excerpted from The End Of A Beautiful Relationship? U.S. Fiscal Federalism, State Credit Quality, And Changing Times For some individual U.S. states, the economic contraction was even more pronounced than it was [...]

White House Details Budget Cut Fallout State By State

Mon, 25 Feb 2013 03:57:00 -0500

DailyFinance.com: By PHILIP ELLIOTT WASHINGTON -- The White House has detailed the potential fallout in each state from budget cuts set to take effect at week's end, while congressional Republicans and Democrats keep up the sniping over who's to blame. Sen. Claire ... Read more

Oregon beats Stanford

Sat, 17 Nov 2012 10:30:03 -0500

OK, it’s just a prediction but it’s a good one. Today the Oregon Ducks, now ranked #1 in the USA, will host the Stanford Cardinals at Autzen Stadium in Eugene Oregon at the University of Oregon Campus. … Continue reading →

Building Momentum

Wed, 27 Jun 2012 17:11:50 -0400

As of this week, more than 100 public and private sector partners have come together through President Obama’s Better Buildings Challenge which supports job creation by catalyzing private sector investment in commercial and industrial building energy. Just yesterday, 36 new States, local governments, and school districts joined the growing list of partnerships that are proving how modernizing our country’s buildings to become more energy efficient creates jobs, cuts energy costs, and reduces pollution. Combined, these commitments bring the total square footage of buildings enrolled in this public-private partnership to 2 billion, the equivalent of more than 34,000 football fields.

This announcement also adds $300 million in new estimated investments in building energy upgrades to the nearly $4 billion in public and private sector financial commitments that were announced in December 2011.

Last year, commercial buildings consumed roughly 20 percent of all the energy used by the U.S. economy. With the help of former President Clinton and the President’s Council on Jobs and Competitiveness, President Obama’s Better Building’s Challenge will help make America’s buildings 20 percent more efficient over the next decade, while reducing energy costs for American businesses by nearly $40 billion.

The Federal government is also committed to creating jobs and cutting costs by investing in energy efficiency in Federal buildings. Since President Obama signed a Presidential Memorandum last December directing Federal agencies to invest at least $2 billion in two years in building energy efficiency, agencies have identified $2.1 billion in such projects – all paid for with savings through energy savings performance contracts with no up-front cost to taxpayers.

Top Ten Retirement States? Well, eleven actually… plus my personal favorite, Oregon!

Tue, 29 May 2012 19:34:03 -0400

Retire USA keeps on growing, mostly thanks to some great posts by our many retirement bloggers and guests at the website. Our goal is to become one of the top online sources of retirement information for the USA. We now have excellent city profiles on about 225 US cities with a focus on the information [...]

Retirement Information at Retire USA

Sat, 21 Apr 2012 14:25:04 -0400

Retire USA is growing as a helpful source of retirement information for the USA. As always the challenges of creating and maintaining a large website were underestimated, but I think the final product is starting to come together nicely thanks to excellent city profiles on over 200 US cities, some great bloggers at our [...]

NAMES OF 2012 STATE WINNERS IN LONGEST MARRIED COUPLE PROJECT

Mon, 30 Jan 2012 18:36:07 -0500

Retirement Information at Retire USA

Sun, 08 Jan 2012 17:50:15 -0500

Wow, I’d forgotten how hard it is to build and troubleshoot a huge website, but things are finally coming together at Retire USA, a project I’ve got going with three other partners. The plan is to showcase retirement options across all the states in the USA. Although comments about this are welcome, you’ll find things [...]

US State Budget Prospects More Favorable For 2013, But Austerity Will Persist

Fri, 06 Jan 2012 09:28:42 -0500

Standard & Poor’s expects continued austerity in fiscal 2013 budgets for US states, which nevertheless will mostly retain their strong credit status: Our credit outlook for the sector at the start of 2011 focused on the difficult transition to a post-stimulus budget environment. By all accounts, states have made the often-difficult decisions necessary [...]

US State Spending on Health and Welfare Set To Overtake Education Expenditures

Tue, 27 Sep 2011 11:39:46 -0400

Fitch Ratings expects health care costs, particularly Medicaid, will present the biggest challenge for states to achieve balanced budgets in the coming years, according to a special report. Although education historically has made up the lion’s share of most state budgets, total state expenditures on health and welfare are on track [...]

America's Long-Term Care for Elderly, Disabled Has Much Room to Improve

Thu, 08 Sep 2011 10:00:00 -0400

DailyFinance.com: For the first time, there's a state-by-state scorecard of America's performance in providing long-term services and support to senior citizens and people with disabilities, and the results overall aren't much to brag about. AARP's Public Policy ... Read more

Sad State: Federal Spending Cuts Will Hurt Cities and Towns Across America

Tue, 16 Aug 2011 13:23:39 -0400

How are U.S. states bracing for austerity? Try cutting financial aid for poor families to pay for funeral expenses, for one. This is no way to run a country.

Debt-Ceiling Fallout: States to Take Another Hit

Thu, 04 Aug 2011 09:30:00 -0400

DailyFinance.com: The debt-ceiling drama may be over, but -- for state governments -- the ramifications are just beginning to reverberate. The new law requires a 12-member, bipartisan "super committee" to recommend at least $1.5 trillion in spending cuts by late ... Read more

Moody’s Retains Negative Outlook on States Despite Budget Progress

Thu, 14 Jul 2011 10:55:34 -0400

Moody’s is impressed with the ability of most states to pass budgets despite economic and fiscal difficulties, but retains its negative outlook: All but one state, Minnesota, adopted their fiscal 2012 budgets on time despite continued weakness in the economy following one of the worst economic downturns since the Great Depression. The fiscal 2012 budget deliberations [...]

Southern States Offer the Most Bang for Your Cost of Living Buck

Wed, 29 Jun 2011 12:30:00 -0400

DailyFinance.com: By Jennifer Leigh Parker, CNBC.com Everyday expenses have a direct effect on the price of doing business, which is why we rank the cost of living for each state in CNBC's Top States for Business. So where would a business find a state where the ... Read more

Revenues for Most US States are Strong, But Risks Remain

Tue, 14 Jun 2011 13:15:36 -0400

Despite the doomsayers, recent revenue results for US states have been strong, particularly for states that benefit from income taxes on high earners, according to Fitch Ratings. But although this represents a welcome change of pace for states, there is the risk that extra revenues will provide the temptation to reverse [...]

The 10 Best States for Unemployment Benefits -- and the 10 Worst

Thu, 12 May 2011 07:00:00 -0400

DailyFinance.com: The U.S. unemployment rate continues to hover around 9%, with nearly 14 million Americans out of work. Worse still, many of them are remaining unemployed for extended periods: According to April's numbers from the Bureau of Labor Statistics, 5.8 ... Read more

Many More Millionaires by 2020: How Will Your State Stack Up?

Thu, 05 May 2011 11:30:00 -0400

DailyFinance.com: Prepare yourself for the decade of the multiplying millionaires: By the end of 2020, the number of affluent households that will cross the line into seven-figure status is expected to virtually double the ranks of millionaires in the United States, ... Read more

State Worker Retirements Are Soaring Across the Country

Wed, 02 Mar 2011 12:00:00 -0500

As wages and benefits shrink, state workers are retiring in droves. On top of all the layoffs, these retirements amount to a huge brain drain of government employees, and the problem is likely to get worse given the yawning budget gaps of states from coast to coast.

Continue reading State Worker Retirements Are Soaring Across the Country

State Worker Retirements Are Soaring Across the Country originally appeared on DailyFinance on Wed, 02 Mar 2011 12:00:00.

Filed Under: Retirement, Columns, Careers

Coping With Autism in New Jersey's Budget

Wed, 23 Feb 2011 21:00:00 -0500

New Jersey Gov. Chris Christie has made autism services a priority in his proposed budget for the 2012 fiscal year. But some services may still suffer cuts: nonprofit Autism NJ says it's set to lose a state contract -- and Medicaid cuts also could reduce autism services, activists say.

Continue reading Coping With Autism in New Jersey's Budget

Coping With Autism in New Jersey's Budget originally appeared on DailyFinance on Wed, 23 Feb 2011 21:00:00.

Filed Under: Columns, Economy, People, Health Care

Despite Public Perception, Government Workers Aren't Living Large

Fri, 18 Feb 2011 14:30:00 -0500

Though the media often reports on eye-popping salaries of government officials, such as school superintendents and other political appointees, most public-sector workers don't do nearly as well. Typically, they earn about 6% less than workers in the private sector.

Continue reading Despite Public Perception, Government Workers Aren't Living Large

Despite Public Perception, Government Workers Aren't Living Large originally appeared on DailyFinance on Fri, 18 Feb 2011 14:30:00.

Filed Under: Economy, Media

State Revenues Rising

Tue, 28 Dec 2010 08:44:38 -0500

Yes, revenues are going up, but my guess is actual state spending is not. In other words, the rate of state ‘borrowing to spend’ including capital budgets has likely slowed? That’s a net drop in aggregate demand- higher taxes without that much higher spending. Also, spending federal funds is already figured in aggregate demand calculations as part of [...]

College Dropouts Cost Taxpayers Billions

Mon, 11 Oct 2010 06:56:00 -0400

Students who drop out of school before reaching their sophomore year cost taxpayers billions of dollars, according to new research.

Taxpayers spent more than $9 billion over five years subsidizing students who didn't make it to the second year of four-year degree courses, according to new research from The American Institute for Research (AIR).

Treasury Announces $1.5 Billion Small Business Package

Fri, 08 Oct 2010 06:43:00 -0400

The Treasury Department announced a $1.5 billion lending package to boost small businesses at the state level.

The money will be available to states that can demonstrate that they will generate $10 in new private lending for every dollar of federal funds they receive, Reuters said. This could create a package worth a total of $15 billion.

States Raising Cigarette, Gas and Sales Taxes to Cover Shortfalls

Mon, 09 Aug 2010 18:00:00 -0400

More states are hiking tax rates on the sale of retail items, gasoline and cigarettes according to a recent survey of state consumption taxes.

Continue reading States Raising Cigarette, Gas and Sales Taxes to Cover Shortfalls

States Raising Cigarette, Gas and Sales Taxes to Cover Shortfalls originally appeared on DailyFinance on Mon, 09 Aug 2010 18:00:00.

Filed Under: Taxes

Oil Spill May Hit Credit Ratings of Coastal Towns, Florida

Wed, 19 May 2010 12:36:36 -0400

Moody’s says the oil spill off Louisiana may ultimately result in negative credit impacts for coastal towns along the Gulf of Mexico shoreline and for the State of Florida. “Any rating or outlook changes would follow careful assessment of the spill’s impact on taxable property valuation, property tax levies, revenue performance, state [...]

Tax Receipts Rebound as 15 Biggest States See Gain

Tue, 30 Mar 2010 15:16:26 -0400

> > (email exchange) > > On Tue, Mar 30, 2010 at 2:27 PM, Jason wrote: > > State tax receipts are reportedly up… > Yes, federal looking like they’ve bottomed as well. Definitely looks like activity has bottomed. And still feels like we are going the way of Japan, but too early to tell. > > Granted we are still well below 2008 peak revenue levels > > and the [...]

States Face a $1 Trillion Shortfall for Retirees

Thu, 18 Feb 2010 15:00:00 -0500

According to a report released Thursday by the Pew Center on the States, there is a $1 trillion shortfall between what U.S. states have set aside to pay for employees' retirement benefits and the cost of those obligations. That's more than $8,800 for every U.S. household -- and the true cost is probably even higher.

Continue reading States Face a $1 Trillion Shortfall for Retirees

States Face a $1 Trillion Shortfall for Retirees originally appeared on DailyFinance on Thu, 18 Feb 2010 15:00:00.

Filed Under: Economy, Taxes

States Facing $1 Trillion Shortfall in Retiree Benefits

Thu, 18 Feb 2010 11:55:01 -0500

There was a $1 trillion gap at the end of fiscal year 2008 between the $2.35 trillion states had set aside to pay for employees’ retirement benefits and the $3.35 trillion price tag of those promises, according to a new report released by the Pew Center on the States. The shortfall, which will have to [...]

Will Illinois Go Bankrupt Because of Scott Brown?

Sun, 31 Jan 2010 17:31:49 -0500

Schwarzenegger Seeks Obama’s Help

Thu, 24 Dec 2009 13:41:10 -0500

[Skip to the end] Still haven’t seen any discussion of a per capita revenue distribution to all the States? $500 per capita would give California maybe $19 billion and be ‘fair’ to all the States. It would also support aggregate demand (spending power) output and employment, which presumably is a national priority? Feel free to send this suggestion to [...]

S&P Expects State Debt Issuance to Rise in 2010 Though Some States Could be Constrained

Fri, 18 Dec 2009 09:05:15 -0500

In addition to credit market disruptions that required swift action by state debt managers, the American Recovery and Reinvestment Act (ARRA) has brought significant change to the municipal market and how debt is issued, according to Standard & Poor’s. “Add to this the worst economic and revenue decline in decades, and it’s evident to us [...]

Several other states facing fiscal troubles almost as bad as California’s: Pew Center study

Fri, 13 Nov 2009 12:01:51 -0500

A report released today by the Pew Center on the States shows that some of the same pressures that have pushed California toward economic disaster are wreaking havoc in a number of other states, with potentially damaging consequences for the entire country. Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin join [...]

These 10 states may be closest to financial collapse

Wed, 11 Nov 2009 08:00:00 -0500

DailyFinance: When California Treasurer Bill Lockyer sought a $7 billion federal loan guarantee from Treasury Secretary Timothy Geithner in May, it was a clear indication that states, and not just financial institutions, were struggling mightily to find firm ... Read more

Vagabond shoes, longing to stray, cost states billions in lost taxpayer income

Tue, 29 Sep 2009 12:30:00 -0400

DailyFinance: Americans are rolling stones. In a typical year, some 38 million people change residences within the domestic United States. While moving can be a thrill for folks those heading to new opportunities, it's a real downer for the counties and states ... Read more

New Jersey places dead last in list of business-friendly states

Thu, 24 Sep 2009 08:30:00 -0400

DailyFinance: New Jersey often plays second fiddle to neighboring New York, but a new survey of the 50 U.S. states shows the Garden State bested New York in having the least favorable tax climate for business. It's the second consecutive year New Jersey has ... Read more

Letter to the Governor of California

Wed, 01 Jul 2009 10:18:40 -0400

[Skip to the end] Letter to the Governor of California Dear Governor Schwarzenegger I note that the State of California is planning to issue IOUs (registered warrants) from tomorrow (July 2) to ease your cash situation in the face of the political dispute you are having over the budget with the Democrats. My latest blog - California IOUs are not currency [...]

Federal Aid Inevitable as Many States Face Fiscal Crunch

Tue, 30 Jun 2009 11:38:14 -0400

Alleviating the state-level fiscal crunch is likely to require more federal support, privatising state assets and services, and shrinking public sector employment, according to Oxford Analytica. However, these moves — particularly public-sector redundancies — will set back the pace of recovery. OxAn says in States face severe fiscal crunch. “Many states face constitutionally mandated deadlines to [...]

Experts Predict $121 Billion Deficit for US States in 2010

Thu, 18 Jun 2009 11:54:33 -0400

The first half of 2009 saw staggering budget deficits, record unemployment and the largest infusion of federal dollars into state treasuries since the Great Depression, according to Stateline.org’s annual review of state-by-state legislative actions. To date, lawmakers in about half the states have closed shop for the legislative year. As Americans struggled with the worst fiscal [...]

California

Wed, 17 Jun 2009 16:06:25 -0400

[Skip to the end] Rather than let the states cut essential services and lay off employees with unemployment over 9%, I would give all the states an immediate $500 per capita distribution from the federal government. It is the same voters and the same taxpayers, so per capita is the way to go. This gives California most of [...]

California solution

Thu, 21 May 2009 08:23:09 -0400

[Skip to the end] Give California the $15 billion and give all the other states the same per capita amount. This way it’s fair and equitable and helps spur a general economic recovery. [top]

Research Zeitgeist: Taking the (Very) Long View

Mon, 09 Feb 2009 20:29:50 -0500

Maybe it’s because the short term outlook looks so grim, but visitors to Research Recap are interested in the long view. The top post of the last week was based on Stratfor founder George Freidman’s new book looking ahead to the next 100 years. Despite its current troubles, Friedman sees the US retaining its leading role [...]

State of the States: “Ominous”

Fri, 16 Jan 2009 07:43:24 -0500

As a companion to Standard & Poor’s updating of state credit ratings and outlooks, the Pew Center’s “State of the States 2009” report is worth a look. The report highlights the significant budget trade-offs that states are making in light of the recession and explains how the new administration and Congress are likely to affect state [...]

Credit Ratings Snapshot: US States

Thu, 15 Jan 2009 14:03:11 -0500

As a new era in American politics arrives with the inauguration of President Barack Obama, it is worth taking a snapshot of the finances of US States before the impact of new economic and fiscal policies, especially financial stimulus and infrastructure development plans. Standard & Poor’s has obliged with an updated list of state credit [...]

California May Pay With IOUs for Second Time Since Depression

Fri, 05 Dec 2008 17:04:42 -0500

[Skip to the end] (email exchange) right, as I’ve been suggesting for a long time, all states should always pay only with iou’s. that way they spend first, then collect taxes, just like the federal govt. and they can deficit spend without a funding imperative as well. > > On 12/5/08, Jason wrote: > > My opinion is that the next major round of the bailout [...]

Moody’s Says States’ Credit Quality Challenged by Downturn

Fri, 24 Oct 2008 10:25:42 -0400

While the credit market slump poses short-term risks for some state governments, particularly ones that rely on cash flow borrowing, the long-term credit quality of states will be more challenged by the current economic downturn, Moody’s says. The current credit market disruption has caused states that issue variable rate debt greater near-term expense but has not [...]

Weak US Economy Likely to Boost State Debt Issuance

Fri, 18 Jul 2008 10:36:13 -0400

States will likely need to step up their borrowing while the US economy remains weak, according to Standard & Poor’s. States have not been impervious to disruptions in the credit markets in the past year despite their generally solid credit profiles, S&P says in a new Public Finance Report Card. “Many states with auction-rate securities [...]