I’ve been doing a lot of thinking lately about local government debt. It all started when I was preparing for a presentation and took a look at the Wake County budget for this year. I nearly fell out of my chair. This year alone, Wake County’s budget includes just more than $273 million in debt service. To break that down a little bit,...
N.C. Treasurer Dale Folwell on Thursday announced that all three major national bond rating agencies reaffirmed the state’s “AAA” bond rating. All three noted stable outlooks as an upcoming sale of about $106 million of General Obligation Bonds and $300 million in Limited Obligation Bonds is set for later this month. Folwell has recently discussed a...
States with strong public-employee unions — measured as membership rates, collective-bargaining rights, and the presence or absence of right-to-work laws — tended to have higher-cost debt.
