Bailout or stimulus? Why federal relief for budget shortfalls can speed up a recovery

Liz Farmer  |  July 30, 2020

By Liz Farmer, includes “It’s worth noting that states are required to balance budgets, which is why these shortfalls are unavoidable in a recession. Meanwhile the federal government operates on an annual deficit during good times and bad, with no required spending cuts or tax increases.” (Note: Illinois “balanced” its latest budget with $5 billion in anticipated federal aid, and if that didn’t arise, with anticipated borrowing proceeds. See p. 4 here.)

Read the full article on: Forbes

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