 |
 |
|||||||||||||||
|
Greg Mallison's Commentary
• Greg Mallison's April 2013 Budget Commentary (PDF) April was a great month for the Treasury, the way it used to be before 2008. Not only were withholding taxes aided by the recent tax increases, but 1040 and estimated tax payments were up substantially....Please click the above link for the complete article
• Greg Mallison's March 2013 Budget Commentary (PDF) One year ago, I wrote this in the March budget review: "Halfway through the 2011-12 fiscal year, the outlines of another greater than $1 trillion deficit are becoming clear: revenues are up slightly from last year, and expenses are flat. The federal budget seems as becalmed as the Ancient Mariner, doomed to drift on a sea of red ink."......Please click the above link for the complete article
• Greg Mallison's February 2013 Budget Commentary (PDF) So far the sequestration “disaster” appears to be as overhyped as Winter Storm Saturn, but the horrified reaction of the economic punditry to even an alleged $85 billion in budget cuts reveals how politically difficult it really is to reduce federal spending in the present (vague future cuts are much more palatable)....Please click the above link for the complete article • Greg Mallison's PSERS - A Tale of Two Stock Market Recoveries (PDF) Pennsylvania’s largest government pension fund, the PA Public School Employee Retirement Fund, recently released its mid-year results for fiscal year 2012-13. The fund’s net asset value rose to $49.5 billion, an increase of almost $1 billion at the end of June 2012. Sounds like good news, right? Like so much of PA pension news, however, the short-term good news obscures the larger truth—the PSERS fund is running on borrowed time, and even a return to record-high stock markets cannot fix the underlying mismatch between resources and responsibilities......Please click the above link for the complete article (PDF) ...The Congressional Budget Office’s report for January trumpets the 12% year-over-year improvement in federal revenues as a sign that both economic conditions and the budget deficit are ameliorating rapidly. After all, increased tax receipts are one of the best markers of an accelerating economy. However, when one considers the sources of the increase, the picture is a little more blurry. At least half of the increase is due to one-time factors which do not reflect an improving economy....Please click the above link for the complete article
(PDF) ....Unfortunately, this simplistic comparison ignores the fact that the demographic and financial conditions we face today are fundamentally different than thirty years ago, and that what worked then will not work now.....Please click the above link for the complete article
(PDF) Thanks to a fortuitous calendar effect (five Mondays in December) the federal government almost broke even in the month of December, for what would have been the first time since 2007....Please click the link above for the complete article
|
|||||||||||||||
Securities and Advisory services offered through LPL Financial.
Member FINRA/SIPC The LPL Financial representatives associated with this website may discuss and/or transact
securities business only with residents of the following states: AZ, CA, CT, DE, FL, GA, IL, LA, MA, MD, ME, MI, NC,
NJ, NV, PA, SC, TX , VA, WI.