Fiscal resilience

Fiscal resilience: Tools to manage state budgets in an age of uncertainty

When the next economic downturn comes, states will need to be more deliberate about how they manage expenditures and revenues than ever before. An emerging theme across US states —and many regional governments in developed economies— is persistent fiscal uncertainty. Demographic change, spiraling healthcare inflation, and underfunded liabilities have placed states under unyielding fiscal pressures.

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