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Girard Miller

Girard Miller

Contributor

Girard Miller retired in January 2026 as Governing’s finance columnist, having contribued some 200 biweekly columns after five years of monthly commentary for his “Benefits Beat” series. He expects to continue submitting occasional guest commentaries.

Miller was formerly an investment and public finance professional, and the author of numerous professional publications including the 2019 book “Enlightened Public Finance.” His professional career spanned 45 years of leadership in public finance and investments, which included the presidency of two national mutual funds. He has sponsored collegiate scholarships in his field for 25 years. Now residing in southern California, he can be contacted through LinkedIn.

In suggesting that it should be allowed, the Senate majority leader is conflating COVID-19 budgetary emergencies with historical public-pension deficits. They have nothing to do with each other.
The governors are calling for a quick $500 billion to offset plummeting tax revenues. But we don't know how long a pandemic recession will last or how deep it will be. We should be guided by hard data.
Spending vast amounts on a crash program now won't help those who've lost their livelihoods to the coronavirus pandemic. We need to take the time for sensible planning to do it right.
Federal fiscal assistance could avert budget-balancing cutbacks at the state and municipal level as the coronavirus devastates the economy. Here are some of the strategies and policies that are likely to be — or ought to be — considered.
A short-term federal forgivable-loan program for property owners whose tenants can't pay their rent during the pandemic would protect badly needed state and local revenues.
Delaying fast-approaching property-tax deadlines would help Americans facing economic stress, and it wouldn't be that costly for local governments.
Some municipal bond underwriters are peddling the idea that public agencies should sell bonds now to "pre-fund" their promised retiree medical-benefit-plan liabilities.
Fixing the state's retirement finances is like untangling a Gordian knot.
A new look at whether public employees are overpaid.
Surprise! Your bond ratings just went up!