The following is a wonkish discussion of one aspect of the White House budget. The President’s budget will never see the light of day, but I think it is instructive to look at this component of the plan, and expose it for what it is – A fraud.
The following is a wonkish discussion of one aspect of the White House budget. The President's budget will never see the light of day, but I think it is instructive to look at this component of the plan, and expose it for what it is - A fraud.
George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. I have already written several reports describing tax-exempt funds. But for this report, I’ve selected Nuveen Build America Bond Fund (NBB), which is a taxable municipal bond fund.
BEIJING: Angry Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seeks ways to stimulate economic growth which is at its slowest for 25 years. The huge underspend, linked to officials' reluctance to spend on big-ticket projects while authorities crack down on corruption, supports the argument of some economists that Chinese state investment has grown too slowly this year. "In the past, local governments had asked for the money.
Even as Congress remains at a budget impasse, President Barack Obama continues to tout his plans to increase federal investment in the nation's ailing infrastructure, a $50 billion initiative that the White House claims will spur job creation and economic growth.
Bruce Krasting submits:The Build America Bond program was a topic of discussion yesterday when Obama met with Congressional Republicans. Like the Bush tax cuts the enabling legislation for BABS is set to expire in a month. I don’t think the BABs extension is going to meet with any opposition. While it is a side show to the tax issue, BABs is probably more important. If it isn't extended there is going to be a blowout in the tax-exempt Muni market.