Understanding the forces shaping the US public finance landscape is crucial for navigating this complex market. Stay ahead of the curve in this ever-evolving field by following our Moody's Talks – Muniland podcast, where we explore the interconnected risks and opportunities impacting the credit environment across states, local governments, healthcare, education, and beyond. Hosted by Nick Samuels from Moody's Ratings' US Public Finance team, we unpack the latest developments and trends affecting credit, offering valuable insights for market participants across the public finance spectrum. 

Essential sectors shaping US public finance include:

States

The fiscal health of states can be a useful barometer of broader economic trends and policies. Discussions center on how states are managing rising insurance costs in disaster-prone states, budget cuts, state bonds, and pension liabilities.

• Intensifying droughts turn up the heat on US state and local governments

Local Governments

From funding essential services to investing in infrastructure, the financial decisions at the local level have direct impacts on community well-being. Local governments grapple with climate change mitigation efforts, rising facilities costs, and market implications from the decline of the working-age population.

• Graying of America poses financial risks for many local governments

Public Schools and Higher Education

Schools have had to acclimate to shifting demographics, technological advancements, and revenue shortfalls. Issues like the end of pandemic funding for public schools to declining higher education enrollment have credit implications for the near and long-term future.

• NCAA settlement and declining enrollment shift the higher education landscape

Check out the latest episodes:

• Rising insurance costs indicate growing climate risk for state and local governments
  • The availability and affordability of home insurance is declining as damage from hurricanes and wildfires becomes more frequent. That could have negative implications for property values and tax revenues, particularly in the most disaster-prone states.
• US public schools grapple with depleted federal aid, rising salaries and falling enrollment
  • The operating environment for K-12 districts is getting tighter as $190 billion in pandemic support ends, employee costs climb, and declining birthrates reduce the school-age population.
• Ballooning stadium subsidies amplify risk for US states and local governments
  • Stadium projects are often less financially beneficial than projected for the governments subsidizing them, though a shift toward multipurpose facilities brings the potential for enhanced returns.

Listen to more in-depth content on the podcast series page below.