Markets

State And Local Governments Are Finally Adding Jobs Again

Throughout the “recovery” following the financial crisis, one of the big drags on employment growth has been the situation at the state and local level, where there’s been virtually unprecedented downsizing thanks to the decline of tax revenues. The good news is that this is finally coming to an end. […]
State And Local Governments Are Finally Adding Jobs Again
News

Broke Public Pensions Are Splurging On A Big Conference In Hawaii

[credit provider=”StuSeeger via www.flickr.com creative commons” url=”http://www.flickr.com/photos/stuseeger/3536703862/”] That state and local government pension funds are going broke isn’t a new problem. That it’s much worse than reported by those pension funds isn’t a new problem either.Last June, when Moody’s Investors Services proposed four fund accounting adjustments, it determined that the […]
Broke Public Pensions Are Splurging On A Big Conference In Hawaii
Markets

How State And Local Governments Are Still Dragging On GDP And Jobs

Two of the key U.S. economic trends I expected this year were 1) a recovery in residential investment, and 2) that most of the drag from state and local governments would be over by mid-year 2012. Just eliminating the drag from state and local governments would help GDP and employment […]
How State And Local Governments Are Still Dragging On GDP And Jobs
News

Gov. Cuomo Unveils Plan To Cut State Spending By 2.7%

New York Gov. Andrew Cuomo proposed $132.9 billion budget today that would trim public education and Medicaid spending. The plan, Cuomo’s first as Governor, cuts spending by 2.7 per cent in an attempt to close New York’s $10 billion budget deficit.  Here are some highlights, courtesy of Bloomberg:
Gov. Cuomo Unveils Plan To Cut State Spending By 2.7%
Markets

The Two Things That Have Really Held Back This Recovery

A brand new paper (.pdf) by economists Michael E. Feroli (JPMorgan), Ethan S. Harris (BofA), Amir Sufi (University of Chicago), and Kenneth D. West (University of Wisconsin) takes a hard look at housing, and the impact housing has had on the recovery.
The Two Things That Have Really Held Back This Recovery
Markets

Are We About To See A Fiscal Policy Game-Changer In 2012?

A lot of time and effort is spent analysing what the Federal government will do with regards to spending. The bad news, from a growth point of view, is that there’s very little scope for the government to do more, for political reasons. The good news is that it’s too […]
Are We About To See A Fiscal Policy Game-Changer In 2012?