Treasury Secretary Jacob Lew warned Thursday of a “potentially catastrophic” hit to the economy if the nation reaches the debt limit next week and defaults on its obligations.Read More »
2010 decision to mortgage state’s assets threatens cash reserves
Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.
Arizona lawmakers, business leaders and economists face a daunting task as they try to make any changes to the state’s income tax rates and tax system.Read More »
The old adage — “If it doesn’t kill you, it will make you stronger” — generally applies to biological organisms. But it could also apply to the financial system in Arizona, which has had 14 bank failures since 2009.Read More »
Arizonans find lots to criticize amidst a few glimmers of praise
A huge rise in deportations. Regulatory overreach. Borderlands decimated by off-road vehicles. Operation Fast and Furious. More than four years after Barack Obama became president, liberals and conservatives alike have lots to criticize about what has happened in Arizona during his presidency.
Three years after voters approved Proposition 100, the naysayers’ doom-and-gloom predictions about the consequences of the temporary sales tax hike haven’t panned out.
Arguments against Gov. Jan Brewer’s proposal for a temporary 1-cent sales tax increase often veered into predictions of catastrophe. Many said it would severely hamper the state’s economic recovery efforts, that the tax hike would herald a future of tax-and-spend policies in support of an expanding and bloated government that would scare off businesses, and push Arizona toward bankruptcy and turn the state into another California.
Arizona’s economy might be recovering, but the job market didn’t quite keep pace — or at least not last month.Read More »
Arizona's 2010 immigration enforcement law is being called a lingering hindrance to Phoenix's ability to lure gatherings to its convention center.Read More »
The Environmental Protection Agency’s strict enforcement of air-quality regulations in Arizona is stifling job creation and proving costly to businesses unable to meet the standards, U.S. Rep. Jeff Flake said Wednesday.Read More »
In 2006, Arizona-based Fulton Homes opened Fulton Ranch in Chandler, a 520-acre upscale, master-planned community. That was the height of the residential housing boom and high demand justified the financial risk.Read More »