MuniLand Snaps: June 8

June 8, 2012

California is trying to plug a $16 billion hole in its upcoming budget. Meanwhile the California Franchise Tax Board believes $10 billion is owed to the state every year, but never paid, as a result of this underground economy. (Video via KFSN)

Good Links

The Enterprise Blog: The national debt isn’t $15 trillion. It’s $50 trillion.

Reuters: State revenues still growing, albeit slowly.

Reuters: Municipal bond market shrank in 1st quarter: Fed.

Bonddesk: May 2012 market transparency report.

Reuters: “The penalty for staying in cash is so minimal that it may be the better option instead.”

Bloomberg: New Jersey budget chief: State revenues down $50 million to $100 million.

Detroit News: State to Detroit: Drop consent suit or lose funds.

Patriot News: Governor Tom Corbett offers too much in “Shell game”.

Post Gazette: A visual guide to shale gas payments in Pennsylvania.

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