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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (75099)2/22/2008 3:56:20 PM
From: RealMuLan  Read Replies (1) of 116555
 
AZ: Governor orders state hiring freeze

NJ: Turbulent Wall St. erodes state pension funds

CT: Trash fee to rise 25%

FL: Judges and other judicial system officials who say impending state spending cuts could force Florida's courts to temporarily close

GA: Georgia House Republicans say they will restore austerity cuts to the state's schools, totaling 143 million dollars in this fiscal year alone

KY: Benefits would be reduced for future state workers under Gov. Steve Beshear's proposal to reform the public pension systems.

KY: Ky. children's agencies face funding cuts

MD: Lawmakers get down to business on shortfalls of an estimated $1.5 billion shortfall

MD: Legislative analysts are recommending that the Maryland General Assembly temporarily suspend new funding for stem cell research grants, a move that would save $23 million next year.

NE: Reduction in revenue feared

NH: Lynch to present budget trims

NV: Higher Ed system gets back one of three projects axed in budget cuts

NV: Study shows how tax burden has increased

NY: DiNapoli warns of difficult finances for state

NY: Time runs short to decide Albany health care cuts

OH: 200 youth offenders expects to release from overcrowded state facilities in the coming months, allowing them to return to their home communities.

PA: Feds urged to continue the state's student loan program.

PA: Republican chairman of the Appropriations Committee concerned about the drop in lottery ticket sales and declining surpluses

SC: SC House committee cuts spending in state budget

UT: Income fades, but schools still a priority

UT: Low-income Utahns fearing Medicaid cuts

VA: Funding woes hinder road fixes

WA: Washington Gov. Chris Gregoire's plan to leave more than a billion dollars in the state's piggy bank is slipping away.

WA: Federal transportation dollars are drying up. And Washington State residents are buying less gasoline. That means a big pothole is opening in the state's road-building budget

WA: House plan cuts money for medical assistance

WY: House votes for park fee hike

Bond crisis already crimping states--
Michigan just suspended a state loan program for 8,500 students, and the Port Authority of New York and New Jersey is facing a four-fold jump in interest rates on one of its loans. Both are signs of a new bond-market crisis that is threatening to hurt other cities and states if left unchecked.

The recession, the states, and economic stimulus
Red ink in state budgets could prolong the economic downturn and could necessitate a second economic-stimulus package, warns Raymond C. Scheppach, executive director of the National Governors Association,

Medicaid: Biggest insurer is a budget buster
Medicaid went largely unnoticed when it first came into being in mid-1965, meriting only passing mention from President Lyndon B. Johnson at a bill-signing ceremony in Independence, Mo., where he trumpeted passage of the Medicare health plan for Americans over age 65. But four decades later, Medicaid’s numbers are eye-popping. It is now the nation’s largest health insurance program, covering 59 million poor people, or one in six Americans, according to the National Association of State Budget Officers. It pays for 37 percent of all births in the United States and helps foot the bills for more than 60 percent of all patients in nursing homes.


stateline.org

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