John W Rodat

Good – Voters Turn Down Bond Authorization for Another Arena

August 3, 2011 Debt

Nassau County, NY is already in deep, deep financial trouble. Despite the fact that it is one of if not the wealthiest county in New York, its finances are currently being overseen by a state-sponsored and enforced financial control board. Despite their weakened financial straits, Nassau proposed borrowing $400 million for a new hockey arena. […]

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Interstate Flows of Federal Funds

August 2, 2011 Expenditures

The Economist has just published an important analysis and graphic, “Where federal taxes are raised and spent,” on which states send more tax money to the Federal government than they receive back in benefits. This is an issue that Senator Daniel Patrick Moynihan used to focus an annual analysis on. But to my knowledge it […]

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Unfunded Mandates?

August 2, 2011 Budget

A major complaint of counties in New York, even before the State imposed a cap (porous, but a cap) on increases in property taxes, the constant refrain was that the State mandated a host of requirements that generate costs, but which the State doesn’t pay at least part of it. However, about 40 counties operate […]

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Effect of Debt Ceiling Compromise on Economic Forecasts

August 2, 2011 Economics

My working assumptions have been that any deal on the debt ceiling would impair an economic recovery. The estimates are now beginning to come in. Here’s Macroadvisors, Debt Ceiling Deal: Little Fiscal Drag in ’12, Big Risk in ’13. And here’s Brad DeLong’s response. We’ll add more as we find them.

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Beware of political gimmicks in public finance … they metastasise

July 28, 2011 Budget

I keep thinking that this debt ceiling debacle is the result of a political gimmick whose origin is long forgotten. During decades of work in public finance, I’ve certainly seen more than my share. Somebody probably thought it was an essentially harmless but useful political symbol to buy a few votes on a budget or […]

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How to lie with statistics

July 28, 2011 Statistics

A useful reminder. Eleven ways to lie with statistics.

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RIP Phil Pinsky

July 25, 2011 Legislation

I want to note the passing of Philip Pinsky, an attorney from Syracuse, NY and former First Assistant Counsel to the Republican Majority in the NYS Senate. Among other issues, Phil handled health and welfare issues. Some time back, I also worked for the NYS Legislature. But I worked for the NYS Assembly’s Committee on […]

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Friday Entropy

July 15, 2011 Entropy

Alas, a decaying rail car is not an isolated find.

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It won’t be just a Federal default

July 12, 2011 Debt

Even without a default on debt payments, if the Federal government fails to increase the limit and constrains its outflows because they can no longer borrow and if the crisis goes long enough, there will nevertheless be governmental defaults. They’ll happen downstream in state and local governments which are dependent on Federal funds. Most obviously, […]

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Shameless plug

July 12, 2011 Innovation

Shameless plug: My kid interviews Tom Koulopoulos on innovation at Chief Content Officer. “Innovation is about changing behavior, not adopting the latest technology.” Yup.

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