When States Go Broke : the Origins, Context, and Solutions for the American States in Fiscal Crisis.
When States Go Broke discusses the ongoing fiscal crisis among the American states.
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| Format: | Electronic eBook |
| Language: | English |
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Cambridge :
Cambridge University Press,
2012
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| Local Note: | ProQuest Ebook Central |
Table of Contents:
- Cover; WHEN STATES GO BROKE; Title; Copyright; Contents; Figures; Tables; Contributors; Acknowledgments; Introduction: The Perennial Crisis for the American States; PART I: The Origins of the States in Fiscal Crisis; I: Fiscal Institutions and Fiscal Crises; I: TAXING, SPENDING, AND BORROWING; II. THE STATE GOVERNMENT FISC IN AMERICAN HISTORY; III. BUDGETS AND DEBTS; IV. FISCAL CONSTITUTIONS; V. THE PATTERN OF FISCAL CONSTITUTIONS OVER TIME; Debt Procedures and Limitations; Balanced Budget Restrictions; RDFs and TELs; VI. HISTORICAL PATTERNS AND RECURSIVE INSTITUTIONAL CHANGE; VII. LESSONS.
- VIII. CONSEQUENCES
- PART II
- HOW THE RESPONSE TO STATE SHORTFALLS IS HURTING THE U.S. ECONOMYIX. SOLUTIONS
- REFEDERALIZATION OF COUNTERCYCLICAL SPENDING OR STRUCTURED FEDERAL SUPPORT FOR STATES; 3: Public Pension Pressures in the United States; I.A BRIEF BACKGROUND ON STATE PENSION PLANS; II. THE STRUCTURE OF PUBLIC SECTOR-DEFINED BENEFIT PLANS; III. RECENT CONCERNS ABOUT STATE PENSION PLANS; IV. HOW IMPORTANT IS THIS?; V. REFORMS UNDERWAY; CONCLUSIONS; REFERENCES; 4: Structural Challenges in State Budgeting; I. REVENUE CHALLENGES; II. VOLATILITY; III. SALES TAX INSUFFICIENCY.
- IV. PROPERTY TAX LIMITATIONSV. EXPENDITURE CHALLENGES; VI. SECTORAL CHALLENGES; VII. THE TEACHER EXPLOSION; VIII. RISING MEDICAL COSTS; IX. EMPLOYEE BENEFITS; X. ADDRESSING STRUCTURAL CHALLENGES; XI. TAX REFORM FOR STATES; XII. CONTROLLING HEALTH CARE AND EDUCATION COSTS; PART II: The Legal and Political Context of Public Debt; 5: What States Can Learn From Municipal Insolvency; I. THE LIMITED UTILITY OF MUNICIPAL BANKRUPTCY; II. CRITERIA FOR ENTERING BANKRUPTCY; III. ALTERNATIVES TO STATE BANKRUPTCY; State Default; Federal Bailout; CONCLUSION; 6: Market Discipline and U.S. Federalism.
- INTRODUCTIONI. THE PROBLEM OF FISCAL DISCIPLINE IN FEDERATIONS; II. TWO PATHS TO FISCAL DISCIPLINE: HIERARCHY AND MARKETS; III. WHEN FEDERATIONS FAIL; IV. DEFAULT AND THE FOUNDATIONS OF MARKET DISCIPLINE; V. IMPLICIT BAILOUTS AND THE CHALLENGE TO MARKET DISCIPLINE; VI. CAN MARKET DISCIPLINE SURVIVE?; VII. TOWARD A REFORM AGENDA; REFERENCES; 7: American States and Sovereign Debt Restructuring; INTRODUCTION; I. DEBT AND DISTRESS; II. SOVEREIGN DEBT RESTRUCTURING; Episodes; Costs and Consequences; Lessons for States; III. PROPOSALS FOR SOVEREIGN BANKRUPTCY REGIMES; Motivations; Proposals.
