Fate of the States: The New Geography of American Prosperity Read Online Free Page B

also
Privatization
    Public safety problem, and budget cuts, 129–32, 190
    Real-estate boom.
See
Housing boom
    Relocation.
See
Population shifts
    Retirement plans
    growth, factors in, 97
    losses and financial collapse, 94, 97
    of public employees.
See
Public employee pension funds
    Reverse wealth effect, 88
    Rhode Island
    pension fund reform, 106, 193
    pension investment return assumption, 100–101
    unemployment, 169
    Right-to-work laws, 166
    Romer, Christina, 67
    Roosevelt, Franklin D., 33
    San Bernadino (California) bankruptcy, 113, 131–32, 191–93
    Savings-and-loan (S&L) banks, 34–35, 37
    Securitization.
See
Mortgage-backed securities
    Slavery, 20
    Small businesses
    credit, sources for, 7, 79
    credit cuts, impact of, 45, 79–80
    growth, central corridor states, 162
    Smart money, 167–68
    South Dakota
    personal income growth in, 159
    zero state income tax, 165–66
    State budgets. See also individual states
    boom-time spending excess, 9–11, 46, 49, 56–63
    closing gaps, methods used, 62, 109, 112, 117
    debt caps of, 77–78
    debts, taxpayer responsibility for, 11–12, 77–78
    discretionary budget items, 117, 119
    downsizing, necessity of, 145–46
    economically stable states.
See
Central corridor states
    economically unstable states.
See
Housing-bust states
    education cuts, 58, 119–24
    emergency money, lack of, 117
    expenditure changes (2000–2010), 56–57
    fiscal cliff, 140
    geographic mobility, impact on, 26–29, 63–64
    largest expenses, 119
    legal disclosure requirements for, 53, 91, 95
    libraries, cuts to, 124–27
    Medicaid costs, increase in, 59, 65, 119
    miscellaneous tax hikes, 69
    mismanagement, lack of transparency about, 113–17
    pension fund debt.
See
Public employee pension funds
    pet projects, financing of, 11, 57
    public health cuts, 73
    public safety–related cuts, 129–32
    revenue sources for, 53–55, 65, 70–71
    tax rate hikes, 69, 78–79
    tax receipt declines, 27–28, 57–58, 63
    tax receipt rebound (2010– ), 63, 69
    tax receipts outpaced by debt service, 72–73
    tax receipts outpaced by spending, 58–59, 64–65, 72, 111, 118, 136
    total liabilities (2011), 111–13
    waste-collection cuts, 127–29
    welfare monies from fed to, 138–40
    State governments. See also specific states
    ARRA money, use of, 67–69, 140
    borrowing and loans by, 11, 65–66, 71–72, 77–78, 116, 118
    federal government transfers to, 67–69, 70, 112–13
    gambling, considering, 69
    housing bust, overall impacts, 6–11, 49, 57–59
    municipal bond debt issued by, 65, 70–71, 77–78
    privatization of services, 69–70, 128–29, 145–51
    public service delivery by, 54, 66
    and unemployment cycle, 10, 63
    Steel industry, 23
    Stockton (California) bankruptcy, 60–61, 114, 130, 189–90
    Subprime loans, 7–8
    advantages for banks, 2, 5
    ARMs as, 39–41
    bank-targeted states, 7
    birthplace of, 82–83
    creation and sale of, 39–40
    irresponsible lending practices, 3, 5, 7, 39, 41, 43
    securitization of.
See
Mortgage-backed securities
    Suburbanization, 21
    Sun Belt states.
See also
specific states
    real estate inflation in, 26
    Taxation.
See also
Property taxes
    mortgage interest deduction, 35
    state tax hikes.
See
specific states
    zero tax states, 165–66
    Tennessee, personal income growth in, 159
    Texas
    boom-time spending excess, 56, 57
    corporations moving to, 171, 176–78
    debt per capita in, 83
    employment growth, 169, 177
    infrastructure projects, 200–201
    mobile capital investment in, 169
    oil and gas production, 158, 159
    personal income growth in, 159
    population inflow to, 63–64, 157–58
    poverty level in, 141
    revenue, sources of, 57
    tax receipts outpaced by spending, 63
    waste-collection cuts, 128
    welfare assistance spending, 139
    zero state income tax, 165–66, 178
    Textile industry, 20–22
    Unemployment
    breaking cycle, actions for, 144–45
    economic costs of, 135–36, 141
    insurance, state depletion of, 144
    and poverty, 137–38, 141–44
    states with highest rate,