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Coming to a State Near You
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A Wall Street editorial on the problems identified in the budgets and finances of U.S. states identified by the State Budget Crisis Task Force co-chaired by Volcker and Ravitch. This includes Medicaid costs, underfunded pensions, and budget gimmicks that understate the true extent of problems.
State Budget Crisis Task Force co-chaired by Paul Volcker and Richard Ravitch
07/17/2012
Grouped Articles
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
In Report on Statesâ Finances, a Grim Long-Term Forecast
New York Times 07/17/2012
State Budget Task Force Recommendations
New York Times 07/17/2012
Wall Street Journal 08/03/2012
Pension Crisis Looms Despite Cuts
Wall Street Journal 09/21/2012
Illinois Debt Takes Toll on Services, Study Finds
New York Times 10/24/2012
Budget cuts in local government and services in the U.S. - 2011-2013
12/14/2009
Cuts for schools and the MTA local transport in New York state and New York city.
Grouped Articles
Wall Street Journal 07/30/2013
Cities' Revival Curbed By Red-Ink Budgets
Wall Street Journal 11/02/2013
To Add Jobs, Revive Revenue Sharing
New York Times 08/28/2010
Paterson Trims Aid to Schools and Localities
New York Times 12/14/2009
Drastic Cuts Are Expected as M.T.A. Unveils Budget
New York Times 12/14/2009
States Scramble to Close New Budget Gaps
Wall Street Journal 12/18/2009
Cuts in U.S. education and teacher funding- 2010-2012
10/30/2008
Fixing budget deficits of states and local government in the U.S. in 2011-2012 is resulting in sharp cuts for schools. A class size of 60 in Detroit schools is one of the results of these cuts. One teacher calls it not educating children but supervising these children.
Grouped Articles
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
Wall Street Journal 07/30/2013
The Great Stagnation in American Education
New York Times 09/07/2013
To Add Jobs, Revive Revenue Sharing
New York Times 08/28/2010
New York Times 01/18/2014
Arne Duncan: Better education starts with honesty about achievement gaps - The Washington Post
Washington Post 01/24/2014
Efforts to fix the budget deficit in the state of California 2011-2013
01/14/2010
Grouped Articles
California’s New Problem: Too Much Money
New York Times 05/25/2013
Brown Set for Victory in California Budget Fight
Wall Street Journal 06/12/2013
Boskin and Cogan: California's Casino Budgeting
Wall Street Journal 06/04/2012
California Works Out Budget Deal
Wall Street Journal 06/22/2012
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
In Report on Statesâ Finances, a Grim Long-Term Forecast
New York Times 07/17/2012
Fixing the budget deficit in the U.S. state of Wisconsin- 2011-2012
02/11/2011
Wisconsin elected Republicans to the Governor's office and to both houses of the legislature. Governor Walker has a sweeping plan to fix the state's $137 million deficit. He is planning cuts to the public employees benefits unilaterally without negotiating with the unions.
Grouped Articles
Wisconsin May Take an Ax to State Workersâ Benefits and Their Unions
New York Times 02/11/2011
Public-Worker Unions Steel for Budget Fights
Wall Street Journal 02/14/2011
Public Workers in Wisconsin Protest Plan to Cut Benefits
New York Times 02/16/2011
Wisconsin Senate Fails to Vote on Union Law
Wall Street Journal 02/18/2011
Michigan Gov. Says He Won't 'Pick Fights' With Unions
Wall Street Journal 02/18/2011
In Wisconsin and Washington, budget battles reshape political landscape
Washington Post 02/19/2011
Governor Cuomo and passage of tax package in New York with surtax on incomes over $2 million
12/08/2011
The tax will raise $2.6 billion of which $1.5 billion will go to reduce the state's budget gap of $3.5 billion for 2012. A quarter of this will go to a tax cut on incomes below $300,000.
Grouped Articles
Cuomo Reflects in Memoir on Highs and Lows, Both Personal and Political
New York Times 10/08/2014
Economic-Ladder Concerns Trump Income Gap in Poll
Wall Street Journal 05/05/2015
New York Raises Taxes on Wealthy
Wall Street Journal 12/08/2011
Donât Tax the Rich. Tax Inequality Itself.
New York Times 12/18/2011
Cuomo Focuses on Job Creation in State of the State Address
New York Times 01/04/2012
New York Times 03/30/2012
O'Malley in Maryland and Brownback in Kansas- divergent approaches by U.S. state governors in the budget crisis 2010-2013
07/10/2012
Grouped Articles
GOP governor implements GOP economics, disaster ensues - The Washington Post
Washington Post 07/16/2014
Baltimore Riots Rekindle Feud Between David Simon, Martin O’Malley
Wall Street Journal 05/02/2015
Chris Cillizza - The Washington Post
Washington Post 11/15/2015
Cut Taxes or Restore Services? Maryland and Kansas Differ on Path
New York Times 07/10/2012
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
In Report on Statesâ Finances, a Grim Long-Term Forecast
New York Times 07/17/2012
Spending cuts in the U.S. state of Ohio to reduce the budget deficit- 2011-2012
03/16/2011
Grouped Articles
Ohio Governor Poses Steep Cuts to Trim Deficit
Wall Street Journal 03/16/2011
Higher Taxes Yield to Budget Cuts in States
Wall Street Journal 07/07/2011
Wall Street Journal 07/07/2011
Voters Shy Away From Dramatic Overhauls
Wall Street Journal 11/10/2011
States face bleak economic forecast, report says - The Washington Post
Washington Post 11/29/2011
Falling home values mean budget crunches for cities - The Washington Post
Washington Post 12/26/2011
State budgets and costs in the university system
01/06/2011
Grouped Articles
School's Reserve Fund Draws Ire
Wall Street Journal 04/24/2013
College Tuition Increases Slow, but Government Aid Falls
Wall Street Journal 10/23/2013
Wall Street Journal 12/26/2013
The States Take Aim at Tenured Professors
BusinessWeek 01/06/2011
Dispute Over College Tuition Roils Flagship Texas Campus
Wall Street Journal 05/17/2012
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
U.S. States preference for budget cuts not tax increases in deficit reduction- 2011-2012
07/07/2011
A detailed look at how 46 states turned to budget cuts not tax increases as they looked for ways to reduce the budget deficits.
Grouped Articles
Higher Taxes Yield to Budget Cuts in States
Wall Street Journal 07/07/2011
Wall Street Journal 07/13/2011
Tom Keene Talks to Robert Skidelsky
BusinessWeek 07/28/2011
Families Feel Sharp Edge of State Budget Cuts
New York Times 09/06/2011
States face bleak economic forecast, report says - The Washington Post
Washington Post 11/29/2011
Washington Post 12/22/2011
Grossly underfunded state pension funds in the U.S.
08/27/2010
Grouped Articles
Pension Pinch Busts City Budgets
Wall Street Journal 10/30/2013
Illinois Pension Fix Faces Political Test
Wall Street Journal 12/01/2013
Illinois Legislature Approves Retiree Benefit Cuts in Troubled Pension System
New York Times 12/03/2013
Public Pensions and Our Fiscal Future
Wall Street Journal 08/27/2010
Illinois Supreme Court Rejects Lawmakers’ Pension Overhaul
New York Times 05/08/2015
Public Pension Funds Roll Back Return Targets
Wall Street Journal 09/05/2015
Solutions and reforms for financial problems of U.S. states.
10/16/2010
Public worker's pay is skewed largely towards pensions, health insurance and benefits.
Grouped Articles
Pension Pinch Busts City Budgets
Wall Street Journal 10/30/2013
Illinois Pension Fix Faces Political Test
Wall Street Journal 12/01/2013
Illinois Legislature Approves Retiree Benefit Cuts in Troubled Pension System
New York Times 12/03/2013
American states' pension funds: A gold-plated burden
Economist 10/16/2010
Illinois Supreme Court Rejects Lawmakers’ Pension Overhaul
New York Times 05/08/2015
Public Pension Funds Roll Back Return Targets
Wall Street Journal 09/05/2015
The wildly underfunded pension system of the American state of New Jersey.
09/30/2010
Need to increase the retirement age to 65 from 62, and increase pension contributions to 8.5%, says Governor Christie of New Jersey. With the lower savings of workers in the U.S. as they approach retirement, adequately funded pension systems are critical to the safety net.
Grouped Articles
Pension Pinch Busts City Budgets
Wall Street Journal 10/30/2013
Illinois Pension Fix Faces Political Test
Wall Street Journal 12/01/2013
Illinois Legislature Approves Retiree Benefit Cuts in Troubled Pension System
New York Times 12/03/2013
BusinessWeek 09/30/2010
Public-sector pensions: Three-trillion-dollar hole
Economist 10/16/2010
American states' pension funds: A gold-plated burden
Economist 10/16/2010
The indefatigable Paul Volcker- a day at his office in Rockefeller Center with Richard Ravitch
10/27/2011
Grouped Articles
Volcker Plans to Restore Faith in Government
New York Times 05/29/2013
Senior Advisers: Two Old Friends Talk Fishing and Finance
Wall Street Journal 11/21/2011
Charlie Rose Talks to Paul Volcker
BusinessWeek 10/27/2011
Volcker to Push Back on Banks' Trading
Wall Street Journal 02/13/2012
J.P. Morgan Trades In Its Crown
Wall Street Journal 05/11/2012
Paul Volcker vs. JPMorgan’s London Whale - The Washington Post
Washington Post 05/12/2012
Cuts in state budgets in the U.S. after Republicans take over governorships and legislatures in many states.
01/05/2011
Grouped Articles
Recession-bruised states' revenue sank 30 percent in 2009, Census Bureau reports
Washington Post 01/05/2011
New York Times 01/06/2011
Florida Governor Hits Road to Sell His Budget Overhaul
Wall Street Journal 02/03/2011
Wall Street Journal 02/07/2011
New York Times 02/07/2011
In Muni-Bond Ills, Danger and Hope
Wall Street Journal 02/09/2011
Developing bankruptcy and other options for states with severe debt problems in the U.S.
01/20/2011
Senator Cronyn raises the question about developing options for restructuring of finances if states have no other option. Budget deficits of many states in the US are expected to be severe enough to require some mechanism for resolution.
Grouped Articles
How Righteousness Killed the World Economy
New York Times 10/12/2014
State Bankruptcy Option Is Sought, Quietly
New York Times 01/20/2011
In Muni-Bond Ills, Danger and Hope
Wall Street Journal 02/09/2011
States face bleak economic forecast, report says - The Washington Post
Washington Post 11/29/2011
Report Details Threats to States' Fiscal Health
Wall Street Journal 07/18/2012
In Report on Statesâ Finances, a Grim Long-Term Forecast
New York Times 07/17/2012
Efforts to fix the budget deficits in U.S. states: 2010-2012
01/05/2011
Some of the worst budget deficits are in Illinois, California and New Jersey, with other states not far behind.
Grouped Articles
California’s New Problem: Too Much Money
New York Times 05/25/2013
Brown Set for Victory in California Budget Fight
Wall Street Journal 06/12/2013
Illinois Deficit Leads to Talk of Big Tax Increase
New York Times 01/09/2011
How to Revive the California Dream
Wall Street Journal 01/10/2011
Chris Christie: The conservative crush
Economist 01/08/2011
Illinois Braces for Tax Increases
Wall Street Journal 01/13/2011
Funding the budget and pension deficit in the U.S state of Illinois
10/16/2010
Grouped Articles
Pension Pinch Busts City Budgets
Wall Street Journal 10/30/2013
Illinois Pension Fix Faces Political Test
Wall Street Journal 12/01/2013
Illinois Legislature Approves Retiree Benefit Cuts in Troubled Pension System
New York Times 12/03/2013
American states' pension funds: A gold-plated burden
Economist 10/16/2010
Chicago Mayor Seeks Alterations to Repair Badly Underfunded Pension Plan
New York Times 04/01/2014
For Some Bond Investors, Chicago Isn’t Their Kind of Town
Wall Street Journal 04/02/2015
Medicaid and U.S. state budgets- 2011-2014
02/17/2011
The recession has greatly increased the number of people on Medicaid. State efforts to gain flexibility in the amount of coverage provided are limited by provisions in the 2009 health care legislation.
Grouped Articles
Governors Scramble to Rein In Medicaid
Wall Street Journal 02/28/2011
Governors Ask Congress for Leeway on Health Care Bill
New York Times 03/01/2011
BusinessWeek 02/17/2011
In Texas, Furor Over a Proposal for Huge State Budget Cuts
New York Times 04/08/2011
Medicaid Benefits Dropping for Millions of Patients
New York Times 06/15/2011
Cuts Would Only Shift Health-Care Costs
Wall Street Journal 07/13/2011
Public sector unions and state budget deficits in the U.S.
01/04/2009
Public-worker unions are preparing to fend off cuts in benefits by newly elected Republican governors in the U.S..
Grouped Articles
Concessions Foreshadow a Tough Year for Unions
Wall Street Journal 01/04/2009
The public sector unions: The battle ahead
Economist 01/08/2011
Public-sector workers: (Government) workers of the world unite!
Economist 01/08/2011
Wisconsin May Take an Ax to State Workersâ Benefits and Their Unions
New York Times 02/11/2011
Public-Worker Unions Steel for Budget Fights
Wall Street Journal 02/14/2011
Public Workers in Wisconsin Protest Plan to Cut Benefits
New York Times 02/16/2011
State budget cuts in the U.S. for 2009 and beyond.
12/18/2009
Grouped Articles
States Scramble to Close New Budget Gaps
Wall Street Journal 12/18/2009
Utility Shutoffs Climb by 5% Despite Doubling of U.S. Aid
Wall Street Journal 12/18/2009
State, Local Tax Revenues Decline 7%
Wall Street Journal 12/30/2009
Public Pensions and Our Fiscal Future
Wall Street Journal 08/27/2010
Wall Street Journal 02/07/2011
Pennsylvania Budget Cuts Hit Education
Wall Street Journal 03/09/2011
State budgets in the U.S. as the economic crisis hits states hard in 2009.
07/03/2009
California is down to issuing warrants or i.o.u.'s to pay taxpayers, local governments and vendors. Other state governments face difficult situations.
Grouped Articles
Brown Set for Victory in California Budget Fight
Wall Street Journal 06/12/2013
To Add Jobs, Revive Revenue Sharing
New York Times 08/28/2010
Coffers Empty, California Pays With I.O.U.’s
New York Times 07/03/2009
Eighty Years After the Great Crash -- 'Is It the '30s Again?'
Wall Street Journal 10/18/2009
8 Arrested in Protest at Berkeley Chancellor’s Home
New York Times 12/13/2009
State, Local Tax Revenues Decline 7%
Wall Street Journal 12/30/2009
The financing of local and regional governments in the U.S.- 2010-2011
08/28/2010
The impact on state and local governments as investors demand higher yields from some states and regional governments. The impact on state budgets of higher financing costs.
Grouped Articles
U.S. Cities Grapple With Finances
Wall Street Journal 10/30/2013
To Add Jobs, Revive Revenue Sharing
New York Times 08/28/2010
The Weak Get Weaker as Muni Bonds Are Sold Off
Wall Street Journal 12/19/2010
Banks Look to Profit on Muni-Bond Fears
Wall Street Journal 12/21/2010
Pained Muni Investors Cry Uncle
Wall Street Journal 12/22/2010
Wall Street Journal 12/24/2010
How U.S. states overstate the extent to which pensions are funded.
10/16/2010
Using a discount rate of 4% (for government borrowing costs) would correctly show the extent to which pensions are funded in Illinois, than the rate currently used rate of 8%. Using Illinois methods Dutch plans would be 200% funded says an expert in Holland. With lower savings of American workers as they approach retirement adequately funded pension systems are critical to the safety net.
Grouped Articles
Pension Pinch Busts City Budgets
Wall Street Journal 10/30/2013
Illinois Pension Fix Faces Political Test
Wall Street Journal 12/01/2013
Illinois Legislature Approves Retiree Benefit Cuts in Troubled Pension System
New York Times 12/03/2013
American states' pension funds: A gold-plated burden
Economist 10/16/2010
Wall Street Journal 03/05/2012
Chicago Mayor Seeks Alterations to Repair Badly Underfunded Pension Plan
New York Times 04/01/2014
The Pension and Benefits Debate in American society
08/27/2010
With 12.5% of U.S. workers being state and local government workers, there is someone, a neighbor, a friend, who works for state and local government. The lunch or dinner conversations often wander into the issues about benefits and pensions in the private and government workplaces.
Grouped Articles
Public Pensions and Our Fiscal Future
Wall Street Journal 08/27/2010
American states' pension funds: A gold-plated burden
Economist 10/16/2010
Pension Issues Spice Dinner Debates
Wall Street Journal 02/18/2011
Wall Street Journal 06/16/2011
Beware the Registered Investment Adviser
BusinessWeek 10/27/2011
Wall Street Journal 04/22/2012
Transparency and disclosures of the actual condition of state pension funds.
10/16/2010
Effors to bring realistic accounting and annual disclosures.
Grouped Articles
American states' pension funds: A gold-plated burden
Economist 10/16/2010
GOP Bill Takes Aim at Pension Disclosures
Wall Street Journal 02/22/2011
California Still Dreamin' on Pensions
Wall Street Journal 03/17/2011
Wall Street Journal 03/23/2011
State Pension Plans Lose Ground
Wall Street Journal 04/26/2011
States Lean on Public Workers for Bigger Pension Contributions
New York Times 06/15/2011
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