The Power of Fiscal Policy Is Unmatched by Anything Else

Cities and states can't engage in unlimited deficit spending since they can't print money or issue seemingly unlimited amounts of debt like companies and individuals. Their revenues have withered as the take from taxes and fees has declined, but their need to spend is unabated. In july, per the department of housing and urban development, in new york city, 27 int two % of mortgages were another pressing need Can be found at state and local governments.