US municipal woes

The struggling finances of US states have been thrust into the spotlight in recent years after tax revenues fell sharply as a result of the economic slump, leading to gaping budget deficits throughout the country, severe spending cuts and, in some cases, tax hikes

From WORLD Apr 9, 2013

Louisiana governor shelves tax plan

: Louisiana governor Bobby Jindal speaks ©Getty

Setback for conservative fiscal policies at the state level

From GLOBAL ECONOMY Apr 4, 2013

Budget axe starts landing on economic ‘lifelines’

Poorer parts of the US are struggling to keep open their vital aviation links

A pedestrian walks by a Stockton Record newspaper rack displaying the headline 'Bankrupt!' ©Getty From WORLD Apr 2, 2013

Stockton allowed to enter bankruptcy

California city in test case for creditors

A pedestrian pushes a cart with recyclables on June 27 2012 in Stockton, California ©Getty From WORLD Mar 26, 2013

Creditors fight Stockton bankruptcy claim

Bondholders want California city to cut pension payments

From WORLD Mar 13, 2013

Emergency manager heads for Detroit

City edges closer to restructuring its $14.5bn long-term debt

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Interactive - US state budget gaps

US federal budget cuts

Governments of the 50 states are grappling with the effects of the recession on their funds

From GLOBAL ECONOMY Mar 7, 2013

Pension woes weigh on Illinois budget

Governor slams legislators over $96bn unfunded pension liability

From MARKETS Mar 4, 2013

Investors bet rebound in Detroit debt

Long-term bond spreads tighten as city declares fiscal emergency

Sam Brownback, governor of Kansas ©Getty From WORLD Mar 3, 2013

Kansas Republicans plan tax revolution

Governor to eliminate income levy – 40 per cent of state revenues

Detroit ©Getty From GLOBAL ECONOMY Mar 1, 2013

Fiscal emergency declared in Detroit

Step closer to largest municipal bankruptcy in US history

Texas governor Rick Perry ©AP From WORLD Feb 15, 2013

Texas wrangles with California for business

Rick Perry pitches his state’s low taxes and regulation

From WORLD Feb 5, 2013

US cities embrace immigrant population

America’s 11m ‘illegals’ eye Obama’s pathway to citizenship

From MARKETS Jan 31, 2013

Golden State has credit upgrade

Illinois the only remaining state with A-minus rating

From MARKETS Jan 17, 2013

Illinois lawmakers fall into pensions gap

US state needs to fill public pension coffers by $41bn

From GLOBAL ECONOMY Dec 3, 2012

California predicts $1bn budget surplus

Tax rises, cuts and jobs growth help economy recover

From COMPANIES Nov 28, 2012

Oakland to boycott Goldman over swaps

Californian city acts after bank refuses to unwind deal

From COMPANIES Nov 19, 2012

Goldman holds Oakland to soured swaps

City seeks fee-free exit from derivatives agreement

From GLOBAL ECONOMY Nov 9, 2012

California leads the way on raising taxes

Tax increase offers potential to balance state budget

From MARKETS Aug 23, 2012

Bankruptcy fears cast cloud over munis

Investors shrug off warning signals as yields stay flat

From MARKETS Aug 17, 2012

Moody’s warns on California city defaults

S&P cuts rating on Fresno by three notches

From GLOBAL ECONOMY Aug 7, 2012

US ‘state budgets face challenges’

Finances have not recovered from global downturn

From MARKETS Jul 31, 2012

Push to shed light on muni market

SEC recommends greater disclosures to investors

From COMPANIES Jul 24, 2012

SEC considers suit against Miami over bonds

City may face fraud charges over financing

From COMPANIES Jul 20, 2012

Ex-BofA executive charged with fraud

Murphy latest to be charged in bid rigging probe

From WORLD Jul 17, 2012

US states warned to tackle ‘fiscal threats’

Budget problems systemic, not cyclical, report finds

From WORLD Jul 11, 2012

Third Californian city in weeks goes broke

San Bernadino has been struggling to close a $45m deficit

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