GASB critics want more transparency for public pensions and other retirement benefits

April 14, 2021 | The Bond Buyer

The question of whether pensions and other retirement benefits should be more prominently reported by state and local governments is a burning controversy for the Governmental Accounting Standards Board.

Since when does the government have a money tree

April 14, 2021 | Bloomberg

Someone, at some point, needs to pay for government spending. Just because some politicians and advocates assume there’s a money tree for this purpose doesn’t make it so. 

Is the Fed propping up the US government?

April 14, 2021 | Mises Institute

There are several variations of the quote: Never believe anything until it has been officially denied.

IRS Commissioner says tax gap could exceed $1 trillion per year

April 14, 2021 | Forbes

As lawmakers and administration officials in Washington argue over the merits of hiking taxes on the biggest corporations and the wealthy, IRS Commissioner Charles Rettig said the tax gap—the difference between federal taxes legally owed and those actually collected—is approaching and could exceed $1 trillion per year, more than double the agency’s most recent official estimate. 

Florida Senate passes bill to move most state workers to DC plan

April 14, 2021 | Chief Investment Officer

The Florida state Senate has passed a bill that would eliminate the option for nearly all new state employees to participate in a defined benefit (DB) plan, instead requiring them to join a defined contribution (DC) plan.

Illinois Democrats vs. Chicago

April 14, 2021 | The Wall Street Journal

Most fights in one-party states are internecine. In Illinois, the Democrats who control Springfield have all but declared war on Chicago Mayor Lori Lightfoot, who is trying to prevent her city’s further decline.

Linn County looking to shore up financial accounting

April 14, 2021 | Albany Democrat-Herald

That deficiency refers to the case of Angela Adams, a longtime former office manager with the Linn County Planning & Building Department. 

Biden budget proposal would dramatically shift US spending priorities

April 14, 2021 | Voice of America

The Biden administration released an outline Friday of how it wants the federal government to spend its money in Fiscal 2022, and if anyone was surprised by the contents, they must not have been paying attention.

Biden wants to spend even more on defense than Trump

April 14, 2021 | The Nation

Robert Reich knows a thing or two about federal budgets, and the economist who has served in three presidential administrations says there is something wrong with Joe Biden’s plan to increase Pentagon spending above the levels proposed by former President Trump.

This week in Congress: First fights over Biden’s budget plan

April 14, 2021 | Military Times

Just a few days after the White House revealed its budget plans for fiscal 2022, a host of Defense Department and Veterans Affairs officials will visit Capitol Hill to justify their spending needs.

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