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  • Why Governments Use Special Purpose Vehicles for Public Projects

    Why Governments Use Special Purpose Vehicles for Public Projects
    2026/06/07
    Governments around the world use special purpose vehicles — SPVs — to finance public projects off their balance sheets. This episode explains why: a school district in Colorado created an SPV to build a new high school without raising taxes or increasing reported debt. Lucas breaks down how SPVs work, why investors accept them, and the hidden risks taxpayers shoulder when these vehicles fail. Luna asks whether SPVs are genuine innovation or budgetary sleight of hand. A concrete look at a financing tool that quietly reshapes how cities, states, and countries build infrastructure. #SpecialPurposeVehicles #GovernmentFinance #Infrastructure #PublicPrivatePartnerships #MunicipalFinance #DebtManagement #SchoolDistrictBonds #Colorado #BudgetInnovation #OffBalanceSheet #TaxpayerRisk #FiscalTransparency #PublicProjects #Economics #FexingoBusiness #BusinessPodcast #GovernmentSpending #ProjectFinance Keep every episode free: buymeacoffee.com/fexingo
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    11 分
  • Why Government Bonds Trade Below Face Value

    Why Government Bonds Trade Below Face Value
    2026/06/07
    Episode 36 of Government Spending with Fexingo: Budget, Deficits, and Public Finance Explained. Lucas and Luna dig into the mechanics of discount bonds—why a $1,000 government bond can trade for $950. Using Australia's 2033 bond as a real-world example, they explain the math behind coupon rates, prevailing yields, and present value. They also cover why bond prices fall when interest rates rise, the difference between trading at a discount versus a premium, and how this affects government borrowing costs. No prior finance knowledge needed—just curiosity about how public finance actually works. #DiscountBonds #GovernmentBonds #BondPricing #CouponRate #YieldToMaturity #InterestRates #PresentValue #AustraliaBonds #FixedIncome #GovernmentDebt #BondMarket #Treasury #PublicFinance #Economics #FexingoBusiness #BusinessPodcast #FinanceEducation #BondBasics Keep every episode free: buymeacoffee.com/fexingo
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    10 分
  • Why Governments Print Too Many Banknotes

    Why Governments Print Too Many Banknotes
    2026/06/06
    Episode 35 of Government Spending with Fexingo dives into seigniorage – the profit governments make from printing money. Lucas and Luna break down how the U.S. Mint made about $800 million in 2025 from pennies and nickels alone, and why the Federal Reserve remitted roughly $100 billion to the Treasury last year. They explore the mechanics of seigniorage in modern central banking, the difference between coin and paper currency profits, and the surprising fiscal role of the Fed's balance sheet. Listeners will learn how the government turns a profit on every dollar bill in circulation, why the penny is a money-loser, and what happens when foreign countries use U.S. dollars as their own currency. The episode also touches on the line between seigniorage and inflationary finance, drawing on examples from Zimbabwe and the U.S. Revolutionary War. #Seigniorage #GovernmentSpending #FederalReserve #USMint #CentralBanking #MonetaryPolicy #Inflation #ProfitFromPrintingMoney #PennyDebate #Currency #Economics #Budget #PublicFinance #FedRemittance #ZimbabweHyperinflation #FexingoBusiness #BusinessPodcast #Macroeconomics Keep every episode free: buymeacoffee.com/fexingo
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    7 分
  • Why Governments Turn to Public-Private Partnerships

    Why Governments Turn to Public-Private Partnerships
    2026/06/06
    Public-private partnerships, or PPPs, are government's way of outsourcing big infrastructure projects to private companies. Lucas and Luna walk through how they work, when they fail, and why the US military's privatized housing scandal is a cautionary tale. They examine the economics behind risk transfer, the hidden costs of private finance, and what listeners should look for when their city announces a new toll road or hospital PPP. #PublicPrivatePartnerships #PPP #Infrastructure #GovernmentSpending #Economics #Budget #PublicFinance #PrivateFinance #RiskTransfer #MilitaryHousing #Privatization #TollRoads #ValueForMoney #FiscalPolicy #InfrastructureSpending #Business #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • How Governments Use User Fees to Avoid Taxes

    How Governments Use User Fees to Avoid Taxes
    2026/06/05
    Episode 33 of Government Spending with Fexingo explores how governments increasingly rely on user fees—tolls, park entry charges, and utility surcharges—to fund services instead of broad-based taxes. Lucas breaks down the economics of user fees using real-world examples: the Pennsylvania Turnpike toll hike in June 2026, national park entrance fees that now exceed $35 per vehicle, and the hidden surcharges on your water bill. He and Luna discuss the equity trade-offs: user fees force those who benefit to pay, but they can also create a two-tier system where public goods become club goods. The episode also covers why user fees are politically easier to raise than taxes, and how they shift risk from governments to citizens. If you've wondered why your utility bill has line items you don't recognize—or why that road trip just got more expensive—this episode explains the trend. A concrete look at the quiet transformation of public finance, one fee at a time. #UserFees #GovernmentSpending #PublicFinance #Tolls #NationalParks #InfrastructureFunding #StateBudgets #MunicipalFinance #TaxPolicy #Economics #BudgetDeficit #PennsylvaniaTurnpike #UtilityRates #Congress #FiscalPolicy #PublicGoods #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    10 分
  • Why Government Subsidies Create Zombie Industries

    Why Government Subsidies Create Zombie Industries
    2026/06/05
    Lucas and Luna examine how government subsidies can inadvertently create zombie industries — businesses that survive only on taxpayer support. Using the case of Japan's steel sector and the US ethanol mandate, they explore the unintended consequences of sustained subsidies: market distortion, slowed innovation, and the political difficulty of ending support. They also discuss how subsidy design matters and why some subsidies succeed while others fail. This episode offers a clear-eyed look at the economic trade-offs behind government intervention in markets. #GovernmentSubsidies #ZombieIndustries #JapanSteel #EthanolMandate #MarketDistortion #SubsidyReform #PoliticalEconomy #Innovation #TaxpayerImpact #Economics #PublicFinance #GovernmentSpending #TradePolicy #IndustrialPolicy #FexingoBusiness #BusinessPodcast #EconomicPolicy #SubsidyDesign Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • Why Governments Are Terrible at Forecasting Revenue

    Why Governments Are Terrible at Forecasting Revenue
    2026/06/04
    Episode 31 of Government Spending with Fexingo explores why governments consistently miss their revenue forecasts — and not by accident. Lucas and Luna dig into the specific mechanics of how the U.S. Congressional Budget Office and state revenue estimators use 'static scoring' that ignores how tax changes actually affect behavior. They walk through the 2017 Tax Cuts and Jobs Act as a case study: the CBO predicted a $1.5 trillion revenue loss over ten years, but actual corporate tax receipts fell less than half that projection in the first three years. They also examine why states like California chronically overestimate income tax revenue from capital gains, and why Colorado's cannabis tax revenue fell 30 percent short of forecasts. The hosts explain the key flaw: revenue estimators assume tax bases are inert, but people and businesses restructure their affairs the moment a new tax law passes. The episode unpacks 'dynamic scoring,' why the Treasury Department's own models often contradict the CBO, and why the gap between forecast and reality matters for borrowing costs. If you've ever wondered why budget debates hinge on dueling revenue projections, this episode shows you the hidden assumptions. #RevenueForecasting #StaticScoring #DynamicScoring #CBO #TaxCutsAndJobsAct #CorporateTax #StateBudgets #CaliforniaRevenue #ColoradoCannabisTax #CapitalGains #TreasuryDepartment #TaxElasticity #BehavioralResponse #BudgetPolitics #Economics #GovernmentSpending #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • How Government Tax Expenditures Are a Hidden Budget

    How Government Tax Expenditures Are a Hidden Budget
    2026/06/04
    Most people think the federal budget is just what Congress spends each year. But there's a parallel budget nobody votes on: tax expenditures. In this episode, Lucas and Luna break down how the US government loses over $1.6 trillion annually through tax breaks, deductions, and credits — more than the entire discretionary budget. They explore the mortgage interest deduction, the carried interest loophole, and why tax expenditures disproportionately benefit the wealthy. Using the Tax Policy Center's 2025 data, they explain why these 'tax subsidies' are often harder to reform than direct spending, and why they distort economic behavior in ways most people never notice. If you've ever wondered why your tax return is so complicated or why some industries get special treatment, this episode explains the invisible spending that shapes your taxes. #TaxExpenditures #HiddenBudget #TaxPolicy #GovernmentSpending #MortgageInterestDeduction #CarriedInterest #TaxBreaks #FiscalPolicy #Economics #PublicFinance #TaxReform #WealthInequality #BudgetProcess #TaxCode #FexingoBusiness #BusinessPodcast #LucasAndLuna #PodcastEpisode Keep every episode free: buymeacoffee.com/fexingo
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    10 分