MuniLand Snaps: June 8
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)
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.
— Linda Yueh (@lindayueh) June 6, 2012
Wow. Destiny USA is finished. Syracuse taxpayers get hosed. bit.ly/Ly07tv
— Rachel Barnhart (@rachbarnhart) June 6, 2012