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E-book
Author Schleicher, David, author.

Title In a bad state : responding to state and local budget crises / David Schleicher
Published New York, NY : Oxford University Press, [2023]
©2023

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Description 1 online resource (xiii, 234 pages)
Summary "Scholars writing about how the federal government should respond to state and local fiscal stress fall into roughly two camps. One group argues that federal bailouts create excessive moral hazard. Another group argues that federal aid is instead a necessary form of macroeconomic stimulus given the pro-cyclical nature of state budgets. While this debate is important, it is incomplete. This chapter will show that there is another consideration that has often been the dominant concern in federal responses to state and local budget crises: maintaining the ability of states and cities to borrow to build infrastructure and make other investments. It will explain how these three interests - avoiding moral hazard, stimulating the economy during recessions, and preserving state capacity to borrow - interact, laying out a "trilemma" at the core of federal responses to state and local budget crises"-- Provided by publisher
Bibliography Includes bibliographical references and index
Notes Description based on online resource; title from digital title page (ProQuest Ebook Central, viewed on March 5, 2024)
Subject Local finance -- United States
Debts, Public -- United States
Federal government -- United States.
Infrastructure (Finance) -- United States
Debts, Public
Federal government
Local finance
Economics.
Economics.
United States
Form Electronic book
LC no. 2022054705
ISBN 0197629172
9780197629185
0197629180
9780197629161
0197629164
9780197629178