Category: Budgets

Poster child for what not to do: Part 2, borrow our way out of it?

20 July, 2010 (15:24) | Bankruptcy, Budgets, Finance, Illinois, Infrastructure, States, Taxation, US News |

[Continued from yesterday’s Part 1.]   By: David A. Smith   As we saw yesterday, Illinois is up the financial creek.   Maybe I should have turned at the ‘shit creek’ sign?   The state’s functional insolvency – statistics given in the New York Times article we are using as text — is being pressed […]

Poster child for what not to do: Part 1, making California look honest

19 July, 2010 (16:06) | Bankruptcy, Budgets, Finance, Illinois, Infrastructure, States, Taxation, US News |

By: David A. Smith   How’s this for a state motto:   “Making California look penurious and honest”   Do I look penurious and honest?   That’s the money quote buried in a New York Times article about the only state whose finances are in even worse shape than the once-Golden State’s:   “We make […]

Running out of juice to squeeze

13 March, 2006 (09:38) | Budgets, New York City, NYCHA |

Cuts in public housing operating subsidy are starting to bite hard, and as this New York Times story reports, the New York City Housing Authority (NYCHA) is taking steps it would rather not have to take:   The New York City Housing Authority, landlord to more than 400,000 poor New Yorkers, is facing a budget […]

Where your money goes

3 May, 2005 (10:04) | Budgets, Government, Taxation |

“People value only what they pay for.”  — Smith’s law of consumer choice   When your tax dollars go to Washington, to what use does the government (in its infinite wisdom) make of them?    Other than tossing them into the air in glee, of course …   What, in other words, are your taxes […]

The property market’s topped out … or has it?

28 March, 2005 (09:25) | Budgets, Markets, Real estate |

Does this graph scare you?   More to the point, should it?   Has the US home real estate market peaked, as so many have speculated it must?  Using the time-honored technique of Single-Point Analogy, the New York Times (subscription probably required) says it is precisely because people think it has not:   Real estate-crazed […]