Encima Global president -- and economist -- David Malpass has some incisive up on the firm's website that relate well to municipal finance and "too big to fail." Slide #16 shows the growth in state and local government spending as a percentage o Read More
E.J. and I have a in today's Post on the MTA's quickly deteriorating finances. Especially disturbing is the MTA's recent reliance on short-term borrowing to cover its operating costs (in other words, paying millions to Wall Street banks in financin Read More
Australia's Macquarie, responsible for some of the biggest road-infrastructure "private-public partnerships" of the early and mid-2000s, may pull the plug on its stake in one ambitious investment, the South Bay Expressway in San Diego. TOLLROADSne Read More
Westchester County employees have no reason to complain about the high cost of their health insurance--$7,992 for individuals and approximately $22,000 for families, because they pay nothing for it--unless they are property taxpayers. County Execu Read More
A Democratic state lawmaker from Buffalo is urging U.S. Sen. Charles Schumer to oppose President Obama's proposed tax on financial institutions. Assemblyman Sam Hoyt says he believes the tax, which Obama calls a "Financial Crisis Responsibility Fe Read More
With the City of White Plains facing a potential 23.5 percent tax hike, you might expect bold action to curb health care costs. Instead city politicians took a timid approach likely to produce small savings this year. Currently, city employees con Read More
The MTA's Jay Walder deserves great credit for standing firm against the transit "advocates" and elected officials who would like him to devote up to $160 million in capital-investment funds for short-term operating expenses, including rising union-l Read More
Moody's has on $12.2 billion worth of the Metropolitan Transportation Authority (MTA)'s debt, in part because money from the new $1.5 billion downstate payroll tax continues to fall far short of what the state expected. That tax gap was $200 millio Read More
"Changes in the timing and structure of financial services sector compensation, which have resulted in lower than expected personal income tax [PIT] revenues" led to a $1 billion state PIT shortfall in January, which in turn has helped add $750 milli Read More
Chicago Mayor Richard Daley "is looking to lure employers from Oregon after that state's voters approved a huge tax increase last week," the Wall Street Journal . The tax hike in Oregon "will help our economic development immedi Read More
For every $100, the state of New York spends on employee salaries, it now spends another $44 on benefits. That figure will jump to $62 dollars in three years, according to the budget division. As the New York Post : The Read More
In testimony to Albany's Joint Legislative Fiscal Committees, E.J. reminded lawmakers why he's giving them the following counsel: "First, do not add any more to the state's tax burden." A excerpt to remind Albany that we've already Read More
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