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S4E4 - In a Bad State: State & Local Budget Crises (David Schleicher)

Densely Speaking

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Navigating Government Budgets in Crisis

This chapter explores the complexities of state and local government budgets amid economic turmoil, examining the risks of federal bailouts and tough budget cuts. It presents the 'trilemma' of balancing moral hazard, short-term economic impact, and municipal bond market stability while also making public finance more engaging and relatable.

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