The Week Ahead

Last week, the state of Maryland's AAA credit rating was officially re-certified by the nation's three major bond rating agencies. This recognition of the stability of Maryland's financial affairs is important because it results in lower interest rates for debt-financed public projects, lowering borrowing costs and thus saving tax dollars. More detailed coverage of this story can be found here by Maryland Reporter.

Also last week,The Atlantic posted two articles about the effects of the sequester on the the people and policies of America. One focuses on how federal budget cuts have stalled action in the legal system, and the other overviews the harsh impact of sequestration on the poor.

In other recent news, the Economic Policy Institute (EPI) has updated its Family Budget Calculator to reflect this year's economic conditions faced by families living in 615 communities around America. EPI's tool calculates the family income necessary for a "secure yet modest living standard" in those communities from its estimates of local costs for housing, transportation, child care, food, health care, taxes, and other living necessities. The Maryland communities included in EPI's analysis are Baltimore-Townson, Columbia City, Cumberland, Hagerstown, Philadelphia-Camden-Wilmington, Salisbury, Somerset County, Washington-Arlington-Alexandria, and a general "rural" Maryland estimate. 

On a final note of economic news, the Tax Policy Center has launched its inaugural "State Economic Monitor: Quarterly Appraisal of State Economic Conditions" report as part of its state and local finance initiative. It provides an overview of different economic factors such as employment levels, government finance, housing, and economic growth and displays how states compare relative to one another in these areas. Overall, the report puts Maryland in the middle of the pack in terms of overall economic growth, employment growth, and year-over-year change in house prices, but the state ranked far lower in the category of private sector real wage growth.


For the week of July 15th through the 21st:

• On Tuesday, July 16th, the Bureau of Labor Statistics (BLS) will publish its Consumer Price Index figures for June 2013 at 8:30am. Also at that time, BLS will release its Real Earnings report for last month.
• On Thursday, July 18th, the Joint Committee on Children, Youth, & Families meets at 10am in room 130 of the House Office Building on 6 Bladen Street in Annapolis to review the "Race to the Top" early learning grant opportunities.
• Later on Thursday, the Joint Committee on Gaming Oversight has a briefing  at 1pm at 3 West in the Miller Office Building at 11 Bladen Street in Annapolis. There will be an update by the State Lottery and Gaming Control Agency on the current status of the state's gambling program.
• Also at 1pm on Thursday, the Maryland Health Care Commission meets in conference room 100 in their building on 4160 Patterson Avenue in Baltimore (agenda to be announced).
• On Friday, July 19th, BLS will post its monthly Regional and State Employment numbers for June 2013 at 10am.
• Later on Friday, the Maryland Medicaid Advisory Committee meets from 1pm to 3pm in the Department of Health and Mental Hygiene's lobby-level conference room L-3 at 201 W. Preston Street in Baltimore (agenda to be announced).