When will Social Security run out of money

2037 according to this http://www.google.com/hostednews/ap/article/ALeqM5gAU2-jtPEDCH3pZrhjdQPpJUg1ww?docId=a9fb321a8efc41699a672b960d4096b4

Japan debt and bond rating

First time in nine years to have bond rating decreased by Standard and Poorshttp://www.bloomberg.com/news/2011-01-27/japan-s-debt-rating-lowered-to-aa-by-standard-poor-s-outlook-is-stable.html

Pew report on 5 stressed States

Yes, Illinois is of course one of them.  Check out what respondents had to say.  Amongst other findings, it is disturbing  but maybe not surprising, to see that 2/3 of respondents said that they do not trust state government to do what is right http://www.pewcenteronthestates.org/report_detail.aspx?id=60803   At this link the full 92 page report is also available as a pdf

Should states be able to file for bankruptcy

Talk about federal legislation to allow this.  Many implications depending on your point of view   http://www.reuters.com/article/idUSN2115727620110121

A ranking of best states to start small business

put South Dakota as number 1.  No personal or corporate income taxes are a couple factors in the list.http://www.businessinsider.com/best-state-for-your-small-business-2011-1#

GAO report and for-profit colleges

First came the report which was critical http://www.gao.gov/new.items/d10948t.pdf  Now there is a rebuttal from a for-profit advocacy group that is critical of the report saying it misstated facts and manipulated data http://www.insidehighered.com/news/2011/01/13/for_profit_advocacy_group_lays_out_critique_of_gao_report

Muni Bond Market Tumbles This Week

Challenges are described in terms of the impact of this on borrowing costs for cities, hospitals, schools.  The Wall Street Journal article from 1/14/2011 details this worrisome trend. http://online.wsj.com/article/SB10001424052748704307404576080322679942138.html?mod=ITP_pageone_0
A CBS news video from a month ago that called State Budgets: Day of Reckoning described some of the challenges is at this link (sorry for the commercials therein, but the video is interesting as this discusses some of the broad issues).  Also interesting because it included multiple state issues, including my favorite home State of Illinois featuring former Comptroller Dan Hynes - this is not an isolated problem; it is widespread.  The predictions sound scary to me    http://www.cbsnews.com/video/watch/?id=7166293n&tag=cbsnewsMainColumnArea.9

GASB 54 Summary

per BKD newsletter http://www.bkd.com/media/articles/insights/npg/2010/2010-08insightsNPG-1.htm

Internet sales tax

and how it would change business.  Talks about the problems of enforcing use tax alsohttp://www.openforum.com/idea-hub/topics/money/article/internet-sales-taxes-could-change-your-business-tom-harnish

Illinois proposed tax increases have stalled

Whew! a jump from 3% to 5.25% and a $1 increase per pack on cigarettes.  Who is surprised that this did not pass?  It is my opinion that we need to increase taxes in my home state, but what about some balance? It is a mix of cutting spending and revenue generation  http://www.bloomberg.com/news/2011-01-10/no-sign-of-movement-on-ill-tax-proposal.html