MuniLand

Muniland is fundamentally different from any other financial market. This is because it is composed of many everyday people who are charged with defending and improving the common weal. They keep the purse strings. And they often stumble along the way.

The Oregon Legislature has 30 Democrats and 30 Republicans. Imagine crafting law with that dynamic.

Every state house has a fluid political environment. We’ll be looking at all of these “people’s houses” in upcoming posts.  [Video source:  Neatorama]

Today’s sweeps:

Reuters: Fiscal woes to last decades for US states, cities-GAO

The fiscal conditions of U.S. state and local governments will steadily decline through 2060 because of rising healthcare costs, a federal watchdog agency said on Wednesday, but it added that short-term pressures have eased over the last year.

Bloomberg: BU’s Kotlikoff launches The Purple Health Plan for common ground on entitlement spending

“This is a [health care] voucher system that’s fair to all and keeps government spending from exploding. [It is a] proposal that offers common ground to both Republicans and Democrats. To date, five Nobel laureates in economics, George Akerlof, Edmund Phelps, Thomas Schelling, Vernon Smith and William Sharpe, have signed on.

Bond Buyer: Could Legislative Reform Threaten Muni Bonds?

Reuters:  Since mid-November, municipal bond funds have had net outflows totaling $41.23 billion

Bond Buyer: Munis Reverse Course, Strengthen on Institutional Buying

Bond Buyer: Independent FAs Fault G-20 Draft Changes on Gratuities

Bloomberg: Detroit’s Fall Sets Up Rebirth From Grassroots: Joshua Long

The Real Deal:  Silverstein Properties will sell $900 million of fixed-rate municipal bonds

Columbia Daily Tribune: Bond approval will let city buy energy center

Milwaukee Journal Sentinel: Former Heartland Advisors lawyer loses insider trading ruling

SIFMA: Spreadsheet of US debt outstanding

Govinthelab.com: DIY open data: How to start a public data catalog in your city