FMAP? What FMAP? by E.J. McMahon | | NY Torch

Despite growing signs that Congress is finding it harder to spend with reckless abandon, New York State budget negotiators were counting on getting $1 billion in added Federal Medicaid Reimbursement Percentage (FMAP) aid under the so-called "jobs bill" expected to move...

Build America Bonds: like Europe, but worse by Nicole Gelinas | | NY Torch

The House has passed the White House's request for an extension of the Build America Bond program 'till 2012, and the Senate is getting there. Just what state, local, and the federal government need: more "cheap" debt, thanks to an implicit federal...

Build Athens Bonds NY Torch

As part of the White House's $3.8 trillion 2011 budget, President Obama has proposed making the "Build America Bonds" program permanent. Build America Bonds have offered states and localities a quick fix since Washington created them in the stimulus...

Waiting for a last-minute reprieve? NY Torch

As E.J. noted earlier this week, Gov. Paterson is taking a "minimalist" approach to the $2.1 - 3 billion deficit that is starting to yawn in the current budget, suggesting only $500 million worth of cuts (many of which were quickly criticized by stat...

Build California Bonds NY Torch

It's increasingly clear that the federal government's "Build America Bonds" program, part of the stimulus, was a backdoor bailout for California. Under the program, states can issue taxable bonds, with the federal government reimbursing them for the ...

Good enough for government work NY Torch

Xerox is buying Affiliated Computer Services (ACS) for $6.4 billion. Why? Partly because ACS does a lot of work for government entities, processing Medicare benefits and all kinds of other stuff. Big businesses -- including Xerox and ACS competitor ...

Supersized stimulus NY Torch

Some states are being more stimulated than others. February's stimulus package included something called "Build America Bonds." Under the program, states can issue taxable debt to bondholders to raise money for infrastructure projects, rather than is...

Mechanical slaughter NY Torch

Generations of young (mostly male) Americans have schooled themselves in basic auto mechanics, saving thousands of dollars in the bargain, by teasing years of service out of high-mileage cars given up for dead by their previous owners.  For that guy...