Civitas Review

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    Senate Budget Plan Includes Retiree Insurance, Pension Reform

    Posted in Budget & Taxes, Civitas Review By Brian Balfour | Tagged ,

    As highlighted in this Asheville Citizen-Times article, the NC Senate budget proposal  includes measures to address two issues very critical to the long-term fiscal health of the state government: retiree health benefits and realistic measures of the state pension fund. North Carolina lawmakers are looking at changes they say will shore up important benefits for […]

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    State Treasurer Cowell: "Obviously, that means more burden on taxpayers"

    Posted in Budget & Taxes By Brian Balfour | Tagged , , ,

    A couple of months ago, I blogged here about how North Carolina's pension fund is likely in much worse shape than even the current $2.8 billion unfunded liability represents. The reason is because North Carolina, like many state and local government pension funds, uses unrealistically optimistic investment return projections in their actuarial valuation. This year’s […]

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    Real Federal Deficit Nearly Equal to Median Household Income

    Posted in Budget & Taxes By Brian Balfour | Tagged , , ,

    USA Today has this jarring analysis of the federal deficit: The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds. Congress exempts itself from including the cost of promised […]

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    State's Credit Card Still Maxed Out

    Posted in Budget & Taxes By Brian Balfour | Tagged , , ,

    The State Treasurer's Office just released its 2012 Debt Affordability Study analyzing the current state debt situation. Some of the major findings contained in the study: The state's credit card is still maxed out. In other words, the study concludes that the state's debt capacity has been exhausted until next year. The state's transportation debt […]

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    State Retiree Liabilities Growing at Alarming Pace

    Posted in Budget & Taxes By Brian Balfour | Tagged , ,

    Earlier this week, the House Select Committee on Legacy Costs from the State Health Plan, Pensions and ESC met to review the fiscal condition of – among other things – the state's unfunded liability for state health plan costs for state retirees. I've written numerous times in the past on the subject, and how the […]

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