MuniLand

Although it’s unlikely that the federal budget will be balanced for years, some, like Larry Summers, argue that the nation should issue more debt to spur economic growth. The Congressional Budget Office details historical trends in revenue and outlays. The Hill says that a CBO report projects U.S. debt will double GDP by 2037.

Good Links

Pew States: Medicaid fraud busters learn from experience

Bloomberg: Pennsylvania likely to issue $4.5 billion in bonds to repay federal loans for jobless benefits

Pipeline: Pennsylvania governor seeks $1.7 billion tax-break deal for Shell Oil Co

Bloomberg: The costs of cutting spending on Vermont’s mentally ill

Pew Trust: Falling revenues and growing demand for services challenge cities and counties

Charles Schwab: Could public pensions sink your muni bond portfolio?

BBC: California debt: What options are available?

@Twitter Talk

NCSL has a breakdown of current party control in each state and in the legislature. goo.gl/pYFNR

— NCSL (@NCSLorg) June 5, 2012

BREAKING: Public Transportation Ridership Surged in First Quarter, Report Says shar.es/qIYlc — TransportationNation (@TransportNation) June 4, 2012

It’s the law & the right thing to do to pay taxes on internet purchases – more states finding ways to enforce it ow.ly/blGuO — OK Policy(@OKPolicy) June 4, 2012

20yr munis looks attractive. The muni/tsy ratio (using 10yr tsys) is now 182.9% & the 12mth ave = 152.3% so long-term investors can profit.

— Daniel Berger (@munimarketmaven) June 5, 2012

Which top 50 groups made the most political donations in past 11 years? Find out: ow.ly/bmbCh

— California Watch (@CaliforniaWatch) June 5, 2012

What better way to choose the beneficiaries of $100 million in taxpayer dollars than by picking names out of a hat? on.wsj.com/KJOwKo

— Peter Rudegeair (@rudegeair) June 5, 2012