Focus on State and Local Government
By BRUCE BARTLETT,
Posted: October 20, 2011
On October 19, the Federal Reserve Bank of St. Louis published a study on the limits of state balanced budget requirements.
On October 13, the Census Bureau released new data on pension fund assets held by state and local governments in 2009. They fell 22 percent from 2008.
On October 5, the National Association of State Budget Officers issued a report on the impact of federal deficit reduction on state budgets.
On September 27, the National League of Cities published a report on city fiscal conditions. It projects declining property tax revenues due to continuing problems in the housing market.
On September 27, the Census Bureau released its latest report on federal aid to the states.
On September 14, the Center for State and Local Government Excellence published a report reviewing ways that various states, cities and counties have reformed their employee pension systems.
On August 30, the Census Bureau released new data on state and local government employment. In 2010, there were 16.6 million such workers, down 203,000 from 2009.
On July 19, the Center for Retirement Research published a study found that the level of public employee pensions is unrelated to the degree of unionization in a state.
A June 23 paper by economists Robert Novy-Marx and Joshua Rauh found that funding state and local government employee pension promises over the next 30 years will require an annual tax increase of $1,400 per household.
Also on June 23, the American Legislative Exchange Council, a conservative group, published the latest edition of its report on state economic competitiveness.
I last posted items on this topic on May 31.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column for The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including his new book: The Benefit and the Burden.