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New Perspectives on State Government Fiscal Challenges / edited by Barry W. Poulson [and nine others].
- Format:
- Book
- Language:
- English
- Subjects (All):
- Finance, Public--United States--States.
- Finance, Public.
- Intergovernmental fiscal relations--United States.
- Intergovernmental fiscal relations.
- Local finance--United States.
- Local finance.
- State governments--United States.
- State governments.
- Finance, Public--U.S. states.
- United States.
- Physical Description:
- 1 online resource (303 pages)
- Edition:
- First edition.
- Distribution:
- New York : Bloomsbury Publishing (US), 2025.
- Place of Publication:
- Lanham : Lexington Books, 2023.
- Summary:
- In this book, 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.
- Contents:
- Cover
- Half Title
- Title Page
- Copyright Page
- Contents
- List of Figures
- List of Tables
- Introduction
- Note
- Part I: State Debt and Fiscal Stabilization
- Chapter 1: State Debt and Liabilities: A Holistic Approach
- Challenges Facing State Governments Leading into the 2020s
- Policy Recommendations for State Debt and Liabilities
- Recommendations for State Bonds
- Recommendations for OPEB Management
- Recommendations for Infrastructure Needs
- References
- Chapter 2: U.S. State Debt Defaults and Constitutional Reform in Historical Perspective
- Overview of Historical Government Debt in the United States
- State Debt Defaults in the 1840s
- Case Studies
- Repudiation of Civil War and Reconstruction Debts
- Defaults during the Great Depression
- The Twentieth Century Defaults and Their Consequences
- Have State and Local Governments Changed Their Borrowing Habits?
- Chapter 3: Pension Liability Stress for State Governments
- Public Pensions Structure: Defined Benefit Plans
- Changes in Pension Reporting with GASB 67 and 68
- Unfunded Liabilities: A Nearly 5 Trillion Problem
- Case Studies for Reform: Maine, Michigan, Tennessee, and Wisconsin
- Notes
- Chapter 4: Preparing State Finances for a Time of Crisis
- What Makes a State Fiscal Healthy?
- The Intuition behind BSFs
- The "Optimal" Size of BSFs
- BSFs and Fiscal Health
- Rules and Structure Matter
- Next Steps
- Chapter 5: Debt Fatigue in the States: Red States, Blue States, and Zombie States
- Debt Solvency and Sustainability
- Debt Fatigue in the States
- Designing a Debt Brake to Solve the State Debt Crisis
- Dynamic Simulation of the Debt Brake.
- Even a Fiscally Conservative State Such as Florida Needs a Debt Brake
- Colorado: A Red State Captured by Rent Seekers
- Illinois: A Half Century of Debt Fatigue
- Conclusion
- Appendix: Variable Definitions, Parameters, and Equations for the State Calculator
- Equations
- Part II: State Fiscal Institutions
- Chapter 6: Budget Stabilization Funds
- Previous Literature
- Distribution of Revenue Shortfalls and Savings Rates
- Results
- Chapter 7: Anti-Aid Provisions in State Constitutions
- The Rise of Favoritism in the United States
- Anti-Aid Clauses
- Anti-Aid Provisions Applied to Localities
- The Weakening of Anti-Aid Provisions
- The Current State of Anti-Aid Provisions
- Chapter 8: Competition, Networks, and Public-Private Partnerships: Contributions to State Governance
- Introduction: State Governments-Squeezed from All Sides
- Governments and the Grants Economy: Give-and-Take through Love, Fear, and Ignorance
- Conclusion: Creating Greater Value in Governance
- Chapter 9: Extending Zero-Based Budgeting to Zero-Based Regulation
- Background on ZBB
- Zero-Based Regulation
- ZBR in Idaho
- Potential Concerns about ZBR
- Part III: Fiscal Federalism
- Chapter 10: Government Growth, Institutional Erosion, and the Fiscal Squeeze: Nebraska as a Case Study
- The Squeeze Defined
- Nebraska: Spillover Effects and Inequality-The Shift from Local to State
- Federal to State: The Second Part of the Squeeze
- Chapter 11: Fiscal Federalism and State Budgeting
- Growth in Federal Aid
- Aid Causes Excessive Spending
- Aid Distorts Spending Allocations
- Aid Generates Bureaucracy.
- Aid Creates Waste and Abuse
- Aid Buries the Nation in Regulations
- Aid Undermines Diversity
- Aid Reduces Freedom
- Aid Weakens Democracy
- Aid Destroys Accountability
- Aid Crowds Out State and Private Activities
- States Need Large Rainy-Day Funds
- States Should Adopt Stable Tax Bases
- Chapter 12: Give People a Vote That Counts, and They Will Vote for Fiscal Responsibility
- Reverse Revenue Sharing
- More Fiscal Responsibility at the Federal Level
- Providing Better State Services at Lower Costs
- Would Reverse Revenue Sharing Starve Government?
- Chapter 13: Florida's Fiscal Conservatism
- Facts about Florida's Fiscal Conservatism
- Major Budget Priorities
- State Government Pension Liability
- Florida's Sales Tax
- Florida's Intangible Property Tax
- Party Politics and the State Budget
- Factors Supporting Fiscal Conservatism
- Term Limits and Political Organization
- Land Use Policy in Florida
- Index
- About the Editors
- About the Contributors.
- Notes:
- Includes bibliographical references and index.
- ISBN:
- 1-9787-2309-1
- 1-66693-204-3
- OCLC:
- 1400108901
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