MuniLand Snaps: March 8, 2012

March 8, 2012

A woman wins a million dollars in the state lottery but still feels she’s justified to keep receiving food stamps. A local reporter tracks her down and confronts her. Although this discrepancy was extreme, I expect we will see government placing a higher burden of proof on welfare recipients to demonstrate need as state and local budgets tighten and the federal dollars that flow to them shrink. There will be less to go around, and the threshold for receiving welfare benefits will be higher.

Good Links

National Conference of State Legislatures: Percentages of women in state legislatures

American Public Radio: Washington state will limit emergency room Medicaid procedures

Modeled Behavior: State and local government borrowing constraints

Bloomberg: “In most states, OPEB, unlike pensions, isn’t a contractual right”

SEC: Morningstar is granted a two-year SEC exemption for issuer pay business

WSJ: S&P considers new way to rate general-obligation muni bonds

Bloomberg: Municipal bond defaults doubled in the past two years, Moody’s report says

Courthouse News Service: Jefferson county gets bankruptcy green light

Richmond Times-Dispatch: Law Enforcement: Fallujah, Virginia?

@Twitter Talk

Samuel Sherraden@EconNAF Samuel Sherraden   Cool map of oil and gas resources in the United States from USGS
Bruce Katz @bruce_katz Bruce Katz   Michiko Kakutani reviews Thomas Edsall’s timely The Age of Austerity: How Scarcity Will Remake American Politics
Wiley Global Finance @wiley_finance Wiley Global Finance   Canada’s public pension funds, are run internally and favor lots of direct investments
GOVERNING @GOVERNING GOVERNING  House Republicans are introducing legislation today to overhaul Medicaid. Brings back block grant:…

catsbear @catsbear44 catsbear  Disagree, view Detroit as opportunity, cheap housing, good workforce, need right policies, tough but many advantages.

Barnett Wright @BarnettWright Barnett Wright    Consulting report says Jefferson County financial systems and accounting controls nearly non-existent. FTI report now in hands of state lawmakers.

John Archibald @JohnArchibald John Archibald    Put Birmingham area politicians on the Nixonometer

jim warner @JimWarner785 jim warner    NYC: “We want waste-to-energy!”…oh, but the kind that has proven to work for past 20 years is excluded…. get real…
Bill Cluck @hbgbill Bill Cluck   The public’s perception of how safe a city is is a key factor in its economic success- Receiver’s Plan App. pg 73
One comment

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Ms Lang describes very clearly the present situation in Puerto Rico. As a resident, tax payer and business owner I can confirm that this island is going down the drain because of the irresponsible behavior of elected officials. The demagoguery has reach the extremes of a banana republic. In a country where the average salary is about $15,000/yr, it is not a travesty for legislators to vote themselves a $46,000 yearly allowance for perdiem. “La dieta” is tax free and only for eating out; the congressional cafeteria is not good enough for the legislators. Additional stipends include car, driver, gas, etc etc etc. With this kind of management can the island avoid going broke?

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