Claims That Bond Debt, Pension Costs Will Cause Imminent State and Local Budget Meltdown Are Exaggerated

Press Release: Claims That Bond Debt, Pension Costs Will Cause Imminent State and Local Budget Meltdown Are Exaggerated A spate of recent articles regarding the fiscal situation of states and localities have created the misguided impression that drastic and immediate measures are needed to avoid an imminent fiscal meltdown, according to a major new report from the Center on Budget and Policy Priorities.  These articles mistakenly lump together states’ and localities’ current, largely recession-related fiscal problems with longer-term issues relating to bond indebtedness, pension obligations, and retiree health costs. Most states are projecting large operating deficits for fiscal year 2012, as revenues...

Jan 25 2011 Comments (1) Hits:17758