How Trump’s new Fed nominee exposed the Soviet Union’s debt

Bill Bergman | The American Conservative | August 23, 2019

She crunched the numbers and predicted the USSR's downfall. Now can she take on America's red ink?

We owe more than we own

Robert Wasserstrom | Knox VillageSoup (Maine) | August 22, 2019

Did I read that right? Unwilling to reverse LePage’s tax cuts for wealthy people, Gov. Janet Mills would like us to borrow another $249 million for road repair and other routine expenses. Want to clean up our state parks? OK, let’s sell revenue bonds and stick our grandchildren with the bill. And hope they won’t need better schools or some other “unforeseen” but completely foreseeable public service.

Connecticut slot revenue slides, casino win from gaming terminals down $13.1 million

Devin O'Connor | Casino.org | August 20, 2019

Slot revenue in Connecticut plays a critical role in helping fund the state government. But July marked yet another month where the two tribal casinos reported a drop in win from the terminals compared to the prior year. 

A $1 trillion deficit is bad. The reality is much worse

Chuck Chokel | The Fiscal Times | August 16, 2019

President Trump’s signing of a two-year budget deal earlier this month may have averted the chances of another government shutdown before the 2020 election, but it certainly added to the exposure of U.S. taxpayers. 

Municipal Finance Data Forum Midwest

XBRL US | August 15, 2019

Hear public sector and financial data standards experts discuss how standardizing reported data can improve the efficiency of disclosures by U.S. state and local governments. This forum will feature speakers from the Bond Buyer, the Illinois Office of the Controller (IOC), Northern Illinois University Center for Governmental Studies, Truth In Accounting, Will County, and more.

‘Bond King’ backs TIA: says U.S. deficit is $6 trillion using ‘real’ accounting

Peter Diekmeyer | Sprott Money | August 14, 2019

The idea that U.S. government data could be less accurate than much-maligned private sector accounting seems rich.

Government watchdog: Just 4 of 21 Defense Department entities perform well in audit, but that’s progress

Bethany Blankley | The Cleveland American | August 13, 2019

For the first time in decades, the DoD issued an Annual Agency Financial Report late last year that it described as the “first full-scope, department-wide, financial statement audit.”

Hopefully, Esper’s DOD reform includes finances

Sheila Weinberg | Stars & Stripes | August 12, 2019

The Pentagon flunked its first ever full-scope financial statement audit. Yet simply completing the exercise represents real progress in the modern governing context.

Social Security, Medicare could cause economic meltdown

Jason O'Day | Patch | August 12, 2019

Future generations will be crushed by the federal government's growing mountain of debt.

Prop. 106 is the wrong answer to Phoenix’s pension debt

Arizona Republic | August 1, 2019

Phoenix faces big challenges on pension liabilities. Its plans for police officers and firefighters are roughly 60% unfunded

Chicago pension bailout isn’t the solution, reform is

Dan McCaleb | The Center Square (Illinois) | July 31, 2019

Lightfoot has floated the idea of consolidating the city’s $28 billion pension debt into a statewide fund that taxpayers from Carbondale to Springfield to Peoria to Chicago and the suburbs would be responsible for funding.

Eight states have child poverty levels above 20 percent

Jason O'Day | Patch | July 29, 2019

Currently, about 12.8 million American children are living in poverty.

Scrutiny grows over whether small, south county water district can afford desalination plant

Martin Wisckol | Orange County Register (California) | July 26, 2019

The small South Coast Water District has taken key steps toward construction of a $110 million desalination plant, but the agency faces growing questions of whether it’s in over its head for the ambitious project to be built near Doheny State Beach.

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