A sad view of Harrrisburg, Pennsylvania, via the Reason Foundation.
Governing: U.S. releases final rule on the expansion of Medicaid under the Affordable Care Act
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.
Bob Nelson, the product manager for Thomson Reuters MMD/TM3, tweeted out this chart last night with the comment “AAA 10yr ratios went from 85% to 125% as supply ramped up in 2H 2011. vis. supply now highest since mid-Nov.” Translation: Municipal bonds are still expensive, although there has been a ton of new supply. Demand for municipal debt is massive and has disrupted the typical supply-demand relationship.