How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises?
The coronavirus pandemic is paving the way for a state budget crisis that will likely be deeper than any Maine has seen in decades.
For a century and a half in New Hampshire, citizens could sue their state if they believed its actions were illegal or unconstitutional -- regardless of whether it violated their personal rights. Then, in 2014, the state Supreme Court ended that right.
Roundup of recent news by Liz Farmer, includes "... When it comes to where taxpayers get the best bang for their buck, New Hampshire rises to the top.
By Tony Schinnela, includes "... The legislatures of 28 of the needed 34 states, including New Hampshire, have already adopted the needed BBA resolutions.
Enacted state budgets for fiscal 2016 represent a sixth consecutive year of spending and revenue growth, according to this report.
“New Hampshire’s financial reporting system fails to report the state’s true debt said a national organization tracking states’ finances."
" ... The real reason for federal “assistance” lies in the conditions that come attached to it ..."
Amidst some disenchantment with both major political parties, the chart above shows, when looking across the 50 states, the share of votes earned by candidates that were not either Democratic or Republican has fallen significantly for U.S. House of Representative elections since 2000.
When Greece ran into financial trouble three years ago, the problem soon spread. Many observers were mystified. How could such a littlecountry set off a continental crisis? … Americans in virtuous states and cities will be just as furious about their tax dollars flowing to Detroit and other distressed places as Germans are about euros going to southern Europe. But the truth is that America’s whole public sector still operates in a financialnever-never land. Uncle Sam offers an array of “entitlements” that there is no real plan to pay for. Barack Obama is on his way to joining George W. Bush as a president who did nothing about that, while Republicans in Congress imagine they can balance the books without raising taxes. The government spends more on health care than many rich countries and still does not cover everyone. America’s dynamic private sector is carrying on its back an unreformed Leviathan. Detroit is merely a symptom of that.
The American dream is to own a home, and it’s every American’s dream that the price of his/her home rises continually. Of course, there are many reasons for a change in the price of any single house—the local housing market, a neighborhood renovation, the construction of a nuclear power plant—but there are also broad statewide trends, which leads to an important question:
The Institute for Truth in Accounting has prepared final calculations for state financial conditions for the three years ended in fiscal year 2011. Preliminary estimates issued in November have been revised, where necessary, to reflect more complete source material and a final audit of data quality.
State Data Lab now includes preliminary data computed by the Institute for Truth in Accounting and taken from each state's 2011 Comprehensive Annual Financial Report (CAFR). These data include Assets Available to Pay Bills, Total Bills, and Each Taxpayer's Burden or Surplus.
Several years after from the financial crisis of 2008, state pension funds continue to languish. According to data released this week by Milliman, Inc. and by the Pew Center on the States, there was a $859 billion gap between the obligations of the country’s 100 largest public pension plans and the funding of these pensions. Most of these are state funds, and state legislatures have attempted to respond to this growing crisis by making numerous reforms to try to combat this growing deficit.
Each New Hampshire taxpayer’s financial burden equals $8,200.