Fiscal Trends
State and Local Finance: Increasing Focus on Fiscal Sustainability
This article builds on previous research and analysis of fiscal sustainability for state and local governments. First, it reviews recent history of states’ expenditures and revenues, as background for the emerging concern over sustainability. The article describes evolving themes in analyses of state/local fiscal pressures over the last three decades, discusses varying definitions of fiscal sustainability that have been offered in previous literature, and argues for greater precision in such definitions. Finally, the article examines potential action by the Governmental Accounting Standards Board in this area, and discusses how developments in the economy, and potential action at the federal level, may influence state and local budgets in years to come.
Robert B. Ward and Lucy Dadayan, Publius: The Journal of Federalism, June 2009
Tough Times for States and Localities
[PDF]National experts on state finances, including Rockefeller Institute Senior Fellow Donald J. Boyd, analyzed trends in state/local revenues and expenditures at a forum focusing on the economy’s impact on state and local governments.
Public Policy Forum, November 13, 2008
Presentations and Multimedia
The State Revenue Outlook
[PDF]Institute Senior Fellow Don Boyd recently gave his perspectives on the current state of revenues in the states to Fall 2008 Annual Meeting of the National Association of State Budget Officers. Boyd looked at how state revenues are being impacted by the weakening economy and he discussed his insights for the future.
October 18, 2008
The New Retrenchment: Social Welfare Spending, 1977-2006
[PDF]State and local spending for social welfare programs — including cash assistance, medical assistance, and social services — fell in 2006 after adjusting for inflation and need, according to a new report from the Rockefeller Institute.
Thomas Gais and Lucy Dadayan, September 2008
Read the news release
Recessions and State-Local Finances
[PDF]In a presentation to analysts at Fidelity Investments, Rockefeller Institute Senior Fellow Donald J. Boyd examined the impact a new recession is likely to have on state and local government finances. Volatility in state revenue systems may force midyear spending reductions this year and other unpopular policy actions in 2009 — with particular risk for states that rely heavily on capital gains. Includes data on state budget gaps, reviews the revenue impact of the 2001 recession, and explores differences among states in the volatility of state and local tax revenues.
Donald J. Boyd, March 2008
