Meredith Whitney: The Hidden State Financial Crisis – WSJ.com. Tips and icebergs… By MEREDITH WHITNEY Next month will be pivotal for most states, as it marks the fiscal year end and is when balanced budgets are due. The states have racked up over $1.8 trillion in taxpayer-supported obligations in large part by underfunding their pension and other post-employment benefits.... Read more
Archive for the ‘US Debt’ Category
The Constitution and the Debt Ceiling
May 19 | Posted by mrossol | American Thought, US DebtRivkin and Casey: The Constitution and the Debt Ceiling – WSJ.com. I keep learning something. By DAVID B. RIVKIN JR. AND LEE CASEY Congressional Republicans debating how to use the government’s debt ceiling to control runaway federal spending should examine one of the Constitution’s relatively obscure clauses: Section Four of the 14th Amendment. This provision, which forbids any default on ... Read more
No Relief in Sight for Muni-Bond Market
April 6 | Posted by mrossol | Economics, US DebtAbreast of the Market: No Relief in Sight for Muni-Bond Market – WSJ.com. We’re not talking about Federal debt, here, either… “If you don’t like the income statement, the balance sheet, you’re not crazy about management and they don’t have good governance, why would you loan anybody money, other than the fact that they haven’t defaulted in the past?”... Read more
Obama to GOP: ‘We Don’t Have Time for Games’
April 5 | Posted by mrossol | Economics, Obama, US DebtObama to GOP: ‘We Don’t Have Time for Games’ – Washington Wire – WSJ. And I thought Obama could solve all problems by have that serious dialog with others…? ” … “We are now at a point where there is no excuse to extend this further,” Mr. Obama said during a surprise appearance at the daily White House briefing. “I... Read more
