Overview

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.

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9781666932034

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Reviews

The analyses in this volume are applicable to all levels of government, especially for difficult conceptual issues, e.g. recognition of unfunded liabilities, right-sizing budget stabilization funds, regulatory budgeting, asset/liability valuation, and design of the essential budget constraint. -- Marvin Phaup, George Mason University

Author Information

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.

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