Ensuring State and Municipal Solvency

Source: Betsy Zeidman and Rick Palacios Jr., Financial Innovations Lab, October 2010

From the press release:
Cutting back on services and increasing taxes won’t be enough to stabilize state and municipal finances, even when the economy fully recovers. According to a new report from the Milken Institute and the Ewing Marion Kauffman Foundation, it’s going to require real paradigm shifts: a fundamental restructuring of budgets and the entire budgeting process, sustainable revenue generation, new efficiencies and federal/state partnerships.

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