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Abstract: 

Today’s political environment is like no other time in the past. Risks in the municipal market continue to intensify with growing political polarization. What appear to be logical solutions to the municipal community do not always fit into policymakers’ political calculus. Analysts need to navigate complex political developments and trends to be successful. Midterm elections, California after Jerry Brown, pensions, and Puerto Rico represent some of the potential political risks facing the municipal market. An esteemed panel of reporters provides insight into these important issues affecting municipal credit quality. David Moore is vice president and director of municipal research at American Century Investments. Caitlin Devitt is a senior reporter at Debtwire Municipals. Cate Long is the founder of Puerto Rico Clearinghouse. Mary Williams Walsh is a reporter at the New York Times. This article is based on the authors’ discussions during the panel on Politics in America: A Reporter’s Viewpoint at the 35th Annual Conference of the National Federation of Municipal Analysts held in Coronado, California, May 29–June 1, 2018.

Keywords: Illinois politics, Puerto Rico and Title III, municipal bankruptcy and pensions, pension reform, pension liability calculation

Affiliations:  1: American Century Investments; 2: Debtwire Municipals; 3: Puerto Rico Clearinghouse; 4: New York Times.