WASHINGTON, Sept 16 (Reuters) – The size of the U.S.
municipal bond market shrank to $2.89 trillion in the second
quarter of 2011 from $2.91 trillion in the first quarter,
Federal Reserve data showed on Friday.
It was the second quarterly contraction in a row, although
the level of outstanding debt remains above $2.84 trillion in
the second quarter of 2010.
WASHINGTON, Sept 15 (Reuters) – A flood of U.S. retirement
is threatening to burst its dam and drown aging Americans with
rising living costs, but one group is proposing a novel way to
protect private-sector workers: invest in public pension
The National Conference on Public Employee Retirement
Systems proposed “the secure choice pension,” to allow small-
to medium-sized firms to buy into public retirement funds.
WASHINGTON/CHICAGO (Reuters) – States will start sending more than $1 billion to the federal government in coming weeks for loans used to pay unemployment benefits and some may have to raise business tax bills to cover the charges.
The 2009 economic stimulus plan made it easier for states to borrow from the federal government to pay benefits for unemployed workers, easing the strain on their budgets as revenue cratered and high numbers of residents filed for assistance during the recession.
WASHINGTON (Reuters) – President Barack Obama won a victory over his signature healthcare law from a U.S. appeals court on Thursday but Republican critics may only be emboldened in their efforts to undo the reforms.
The 4th U.S. Circuit Court of Appeals in Richmond ruled the state of Virginia did not have the right to sue to block the law. A lower court in Virginia had found a mandate requiring Americans to buy health insurance was unconstitutional.
WASHINGTON (Reuters) – President Barack Obama urged Congress Wednesday to quickly pass multibillion-dollar temporary funding bills for aviation and highway projects, saying inaction would needlessly cost jobs.
Obama said it would be “inexcusable” for lawmakers to not act immediately on those measures when they return from their summer recess next week.
WASHINGTON (Reuters) – Airline, rail and other transportation and shipping networks along the storm-battered East Coast struggled to resume operations on Sunday but most would not return to normal until Tuesday at the earliest.
Flooding, wind damage and power outages from Hurricane Irene and related logistics impeded efforts to get the biggest systems back on line for tens of millions of people, especially in New York where the subway and area airports were closed.
WASHINGTON, Aug 28 (Reuters) – U.S. airlines resumed
limited operations on Sunday at some East Coast airports while
New York air and subway service remained closed as the city
assessed the impact of Hurricane Irene.
Other regional transportation infrastructure came back to
life along the mid-Atlantic with tunnels and bridges reopening
and major highways operating close to normal although wind
advisories remained in effect. Many secondary roads were
blocked by fallen trees, downed power lines and
WASHINGTON (Reuters) – Hurricane Irene is set to lay siege to cities and states along the Eastern U.S. coast this weekend and it could continue to pummel their budgets long after its last raindrop falls.
The costs will quickly mount for seaboard states like Virginia where Hurricane Irene is expected to hit early Saturday and could be as strong as Category Three — a major hurricane that can damage buildings, destroy mobile homes and where total power loss can occur.
WASHINGTON, Aug 23 (Reuters) – State leaders pressed
members of Congress on Tuesday to extend funding for highway
construction and repair, saying jobs were at stake nationwide.
The lobbying push highlights nervousness among highway
officials following last month’s congressional fight over a
similar funding extension for aviation programs. That
controversy shut down construction projects for two weeks and
cost the government $400 million in lost tax revenue.
WASHINGTON, Aug 16 (Reuters) – Many states, walloped by
budget problems, have cut spending on financial management and
put themselves at greater risk of fraud and theft while making
it harder to bring in revenues, according a survey released on
About eight out of 10 state financial managers said that
budget cuts “mean new kinds of risks for their governments’
financial and operations activities,” according to the
Association of Government Accountants’ Annual CFO Survey.