Inbunden, Engelska, 2023

New Perspectives on State Government Fiscal Challenges

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Beskrivning

In this book on new fiscal approaches, nineteen experts examine topics ranging from constitutional reform and debt fatigue to fiscal rules and zero-based budgeting. Together, these contributions inform a multifaceted, nuanced argument for the need to formalize spending restraint and redefine state debt to include unfunded liabilities. Scholars will find the book useful as a reference tool explaining how rules-based fiscal policy is used to address debt fatigue and unsustainable spending growth. Legislators and practitioners will find the book useful as a reference source in designing and simulating second generation fiscal rules, and educators will find the book helpful for its close analysis of policies in representative states such as Illinois, New York, New Jersey, Nebraska, and California.

Produktinformation

Utgivningsdatum: 2023-07-15
Mått: 158 x 237 x 23 mm
Vikt: 567 g
Format: Inbunden
Språk: Engelska
Antal sidor: 302
Förlag: Bloomsbury Publishing Plc
ISBN: 9781666932034

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Mer om författaren

Barry W. Poulson is emeritus professor of economics at the University of Colorado.John Merrifield is head of the Institute for Objective Policy Assessment and was a member of the faculty at the University of Texas at San Antonio for 32 years.

Recensioner i media

The 13 essays in this volume focus on constraining state and local fiscal policy. The authors tend to have some connection to George Mason University, the American Legislative Exchange Council, or the Cato Institute. Although the contributions as a whole possess strong doctrinal conformity, this is leavened with historical context and case studies to present a somewhat broader view of state and local public finance. The first part of the collection is devoted to state debt and fiscal stability. State liabilities, including responsibility for infrastructure, pensions, and accumulating debt, are evaluated in the context of defaults during the 19th and 20th centuries. Rainy day funds and debt brakes are suggested to improve stability. The second section, dealing with fiscal institutions, contends with public-private business ventures as well as budgeting and stability issues. Zero-based regulation is recommended, keeping with efforts to attain zero-based budgeting. The final section critiques fiscal federalism, deprecating federal aid to state and local governments for a variety of reasons. A preferable fiscal federalism, one contributor suggests, would be to reverse revenue sharing, reminiscent of 18th-century federal funding under the Articles of Confederation. Recommended. Graduate students.

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