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With the lion's share of muni revenues coming from property taxes and real estate values falling like a stone while political promises (i.e., spending) soar, I don't think anyone should be surprised.

Hey! Here's an idea: Hold local spending in check for a change.

9 posted on 01/14/2011 3:10:33 PM PST by econjack (Some people are as dumb as soup.)

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To: FromLori

Individual municipal bonds are down 15% from mid November.

This price action reflects the reality the new GOP Congress will not be handing out blank checks to the states that have been overspending.

This is the only way to force politicians to deal with reality. Make them pay more to borrow money.

11 posted on 01/14/2011 3:19:39 PM PST by Presbyterian Reporter

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To: FromLori

I am so glad that we got our daughters college fund out.
It had been in muni’s.

13 posted on 01/14/2011 3:41:55 PM PST by TruthConquers (Delendae sunt publicae scholae)

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To: FromLori

What exquisite timing! The radio ads touting muni bond funds as safe, profitable investments have just started.

18 posted on 01/14/2011 3:51:34 PM PST by jimfree (In 2012 Sarah Palin will continue to have more relevant quality executive experience than B. Obama.)

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To: FromLori

A few months ago, a state and county accountant acquaintance of mine argued that it wouldn’t happen.

21 posted on 01/14/2011 4:35:16 PM PST by familyop (cbt. engr. (cbt), NG, '89-' 96, Duncan Hunter or no-vote.)

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