State Budgets under Stress: Paths to Sustainability

States have been through a series of tough budget cycles in the last years, and some suggest more stress is ahead. This program looked at the current state of budgets and long-term challenges.

This conference was co-hosted by Federal Reserve Banks of Chicago, New York and Philadelphia in partnership with John D. and Catherine T. MacArthur Foundation and National Association of Budget Officers (NASBO).

Agenda

Friday, 06/24/11

8:00 AM

Registration

8:30 AM

Opening Remarks

8:40 AM

Panel 1: What Are the Current Conditions in the States?

Budget directors and experts provide an overview of conditions. How are states handling the gaps? Are they utilizing recurring solutions or just more gap filling?

Moderator

Scott Pattison, Executive Director, National Association of Budget Officers

Illinois

Laurence Msall, President, Civic Federation

Todd Berry, President, Wisconsin Taxpayers Alliance

Wisconsin

Mike Morrissey, Senior Advisor, Governor’s Office

Texas

Donald Boyd, Senior Fellow, Rockefeller Institute

New York

10:00 AM

Coffee Break and Video Montage

10:15 AM

Panel 2: The View from the Markets

A rating agency professional and a municipal analyst provide their views of the historical market dynamics and some insights on the long-term challenges.

Moderator

Nora Fitzpatrick, Federal Reserve Bank of New York

Panelists

Gail Sussman, Managing Director, Moody’s Investors Service

Presentation

Matt Fabian, Managing Director, Municipal Market Advisors

Presentation

10:45 AM

Rules of Engagement for Rough Times

We have assembled some of the leading minds in public finance to get views on how to restructure state budgets. What are ways for states to face their pressures?

Moderator

Leonard Nakamura, Federal Reserve Bank of Philadelphia

Federal Role and Policy

John Karl Scholz, Professor, University of Wisconsin

Political Dynamics in States

Tracy Gordon, Professor, University of Maryland/Brookings Institution

Bankruptcy

Randal C Picker, Professor, University of Chicago School of Law

12:00 PM

Lunch and Keynote Address: Toward Economically Sustainable State Budgets

Speaker

Presentation

Robert Inman, Professor, Wharton School, University of Pennsylvania

12:00 PM

Last Updated: 06/28/2011