This article is a followup to my earlier post titled Why Are So Many U.S. States Facing Budget Deficits? which generated some interesting comments from Seeking Alpha readers. In addition to fall in property, income, sales tax revenues and rise in social benefits spending some readers pointed out that the main culprits are the compensation …
Continue reading ‘Two More Causes of Budget Deficits Faced by Many U.S. States’ »
Have you ever wondered how much the U.S. Federal Government spends on the various social benefit programs?. My analysis shows that federal spending on social benefits is rising fast. Source: Flow of Funds Accounts of the United States report, 1Q-2009Â & BEA NIPA tables Data for 2009 is for the first quarter annualized. The huge …
Continue reading ‘U.S. Federal Government Spending on Social Benefits Is Rising’ »
Summary of U.S. Rail Freight Traffic for the Week Ending June 20,2009: Click to Enlarge Image Source: Weekly Railfax Rail Carloading Report, Railfax The number of autos carried by the railroads is still at worse levels. Forest products sector is also heavily affected since that is tied to the construction industry. Every commodity group traffic …
Many states in the U.S. are facing budget deficits this year. According to one estimate states collectively will face an estimated $80 B in deficits. California is one of the states with a huge budget shortfall. Today the rating agency Fitch downgraded California to A-minus and is just eight days away from issuing IOUs unless …
Continue reading ‘Why Are Many U.S. States Facing Budget Deficits ?’ »