SDL News

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We owe more than we own

AUGUST 22, 2019 | KNOX VILLAGESOUP (MAINE) | by Robert Wasserstrom

Did I read that right? Unwilling to reverse LePage’s tax cuts for wealthy people, Gov. Janet Mills would like us to borrow another $249 million for road repair and other routine expenses. Want to clean up our state parks? OK, let’s sell revenue bonds and stick our grandchildren with the bill. And hope they won’t need better schools or some other “unforeseen” but completely foreseeable public service.

FASAB releases interpretation of cleanup cost liabilities standard

AUGUST 22, 2019 | ACCOUNTING TODAY | by Michael Cohn

The Federal Accounting Standards Advisory Board has issued an interpretation of some recent standards involving cost provisions among multiple entities who are liable for cleanup costs.

Note 13: Environmental and Disposal Liabilities

AUGUST 22, 2019 | FINANCIAL REPORT OF THE US GOVERNMENT

During World War II and the Cold War, DOE (or predecessor entities) developed a massive industrial complex to research, produce, and test nuclear weapons.

IMF: Recession recovery better with strong balance sheets

AUGUST 22, 2019 | PUBLIC FINANCE INTERNATIONAL | by Calum Rutter

Strong public sector balance sheets make governments more resilient against recessions, a working paper from the International Monetary Fund has suggested.

Addicted to fines

AUGUST 22, 2019 | GOVERNING | by Mike Maciag

All throughout the country, select cities and towns generate substantial fines and other court revenues that fund sizable portions of their budgets. 

Pouring pensions into potholes too great a risk

AUGUST 22, 2019 | THE DETROIT NEWS | by Paula Herbart

A pension is a promise of a secure retirement. But too often in Lansing, they’re viewed as piggy banks to be broken into for political purposes. 

City’s gold mine of uncashed checks

AUGUST 22, 2019 | CHICAGO SUN-TIMES | by Fran Spielman

State law requires property that goes unclaimed for three years — including uncashed checks or dormant accounts — be turned over to the state. The city never did that.

Taxpayers are the GSE’s true stockholders

AUGUST 22, 2019 | AMERICAN BANKER | by Edward Pinto

A recent comment from a Freddie Mac legacy preferred stockholder calling on the government-sponsored enterprises to “keep what is rightly earned, recapitalize, and exit conservatorship” is wrong on so many levels.

Federal deficits to grow more than expected over next decade, CBO says

AUGUST 22, 2019 | THE WALL STREET JOURNAL | by Kate Davidson

CBO boosts 10-year forecasts for budget deficits by $809 billion, citing two-year budget deal.

Modern Monetary Theory could destroy this nation

AUGUST 22, 2019 | FORBES | by John Mauldin

I am back from my 14th annual Maine fishing camp. The private event at Leen’s Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors who started these outings many years ago.

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