Chicago Fed Letter

A newsletter featuring an essay on economic policy issues of regional or national interest.

August 2009

Should the federal government bail out the states? Lessons from past recessions
Richard H. Mattoon

Like the economy in general, individual state economies are struggling in this recession. State governments face significant constraints in raising additional revenues. Most states are required to balance their budgets regardless of the economic environment. This article considers the role of the federal government in helping the states to manage their finances. (PDF,57KB)

Helen Koshy
Editor
(312) 322-5830
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