MuniLand Snaps: April 24

April 24, 2012

Muniland has always been interested in America’s magnificent state capitols. Here is Iowa’s State Capitol in Des Moines.

Good Links

Reuters: U.S. retirement fund to run dry earlier: trustees

Bloomberg: Government one-shots raising taxpayers’ debt costs

Reuters: New York’s Nassau County lease of sewer plant faces hurdles

Columbus Dispatch: New Albany school system does synthetic bond refunding

Chicago Tribune: Legislators join Illinois Governor Quinn to save the state

Bloomberg: Illinois “treads water” as unpaid bills top $9 billion

Detroit News: Detroit mayor’s budget proposal looks to cut 2,500 workers

Muni Nation: Van Eck still positive on municipal bond fundamentals

@Twitter Talk

Damian PalettaDamian Paletta ‏ @damianpaletta Social Security trustees – disability fund faces exhaustion in 2016; combined SS fund faces exhaustion in 2033 (sooner than expected)
Bernie SandersBernie Sanders  @SenSanders Social Security provides support for 55M people, including 38M retired workers, 6M widows, widowers, orphans, & 11M disabled workers.
Suzette HackneySuzette Hackney @suzyscribe Under Detroit Mayor Dave Bing’s budget: furlough days would be eliminated, workers would receive a 10% pay cut and no merit/wage increases.
Performance PartnersPerformance Partners  @PublicPerform Detroit fire boss: Let some vacant buildings burn
Ted NesiTed Nesi  @tednesi Central Falls would have a 33% unemployment rate (!) if labor force participation there matched the rest of RI:
OK Policy OK Policy @OKPolicy “An income-tax cut at the state level will invariably lead to a property tax increase at the county level.”
Citizens Budget CommCitizens Budget Comm  @cbcny CBC launches new online, interactive tool for navigating NYS and NYC budgets:
James McTagueJames McTague  @Mctaguej SEC charges former CALPERS CEO and his close friend with scheming to defraud an investment firm into paying $20 million in fees
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