Journal Article

State budgets and the business cycle: implications for the federal balanced budgets amendment debate

Abstract: Balanced budgets and proponents often use the experience of the states with balanced budget restrictions as an argument in favor of a federal balanced budget amendment. However, the state experience is not directly relevant to the federal government. State restriction are more lenient than those considered at the federal level, and many of the techniques used by the states to blame their budgets over the business cycle are not available to the federal government.

Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Economic Perspectives

Publication Date: 1999

Volume: 23

Issue: Q III

Pages: 3-17