The hottest Government finance Substack posts right now

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Let the sunshine in

City Hall Watcher • 117 implied HN points • 27 Mar 23
📰 News Government finance
  1. The Ontario Sunshine List data can provide interesting insights on city salaries and job title trends.
  2. Firefighters saw significant salary increases over the past four years, reflecting a notable trend within the data analyzed.
  3. During the Toronto Council meeting preview, it was highlighted that the city faces a major financial crisis and discussed various agenda items, including the upcoming mayoral election.

3 Misconceptions About US Debt: Lyn Alden

QTR’s Fringe Finance • 22 implied HN points • 23 Jun 25
💰 Finance Government finance
  1. The US debt isn't just owed to ourselves; it includes many foreign and domestic entities. Splitting the debt equally isn't straightforward since different people hold different amounts.
  2. Governments usually don't default on debts in their own currency, but they can devalue the currency instead. This can impact bondholders and taxpayers in different ways.
  3. A selective default on some debt holders, like foreign entities or the Federal Reserve, could create complicated consequences, potentially damaging trust in US financial stability.

The CBO Isn’t Allowed To Forecast An Inflationary Debt Crisis

QTR’s Fringe Finance • 13 implied HN points • 14 Jul 25
💰 Finance Government finance
  1. The Congressional Budget Office (CBO) doesn't predict a debt crisis due to its guidelines, but that doesn't mean debt isn't a problem. Just because they aren't seeing a future inflation issue doesn't guarantee everything will be fine.
  2. Economic theories vary widely, and the CBO avoids making bold predictions that could be seen as fearmongering. They focus on neutral assessments rather than trying to forecast potential crises.
  3. Recent history shows that both the CBO and some economists missed significant inflation signals, suggesting that current forecasts about long-term economic stability may not be very reliable.

Tax policy

Musings on Markets • 0 implied HN points • 29 Jan 11
💰 Finance Government finance
  1. The average U.S. company pays about 29% in taxes on its taxable income, which is higher than many companies in other countries.
  2. U.S. companies experience much more variation in tax rates due to a complicated tax code, which can lead to unequal tax burdens.
  3. Investment and borrowing decisions should focus on economics rather than the tax code, but simplifying taxes might require sectors to shift their tax responsibilities.

Government Default and Riskfree Rates

Musings on Markets • 0 implied HN points • 22 Mar 10
💰 Finance Government finance
  1. In some emerging markets, companies can borrow money at lower rates than their own government, especially if the debt is in foreign currency.
  2. It's surprising that investors feel safer lending to companies like Berkshire Hathaway than to the US government, even though the government can print money.
  3. The market seems to be signaling to the US government that it needs to improve its financial health quickly, or it may face higher borrowing costs in the future.
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