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After The Revolt: A Framework For Fiscal Recovery, Joseph S. Slavet, Raymond G. Torto
After The Revolt: A Framework For Fiscal Recovery, Joseph S. Slavet, Raymond G. Torto
John M. McCormack Graduate School of Policy and Global Studies Publications
Despite the injection of new taxes in the amount of $1 .2 billion in fiscal 1991, and recently announced cuts in the budget of approximately $464 million, the Commonwealth's fiscal condition - irrespective of the outcome of CLT's petition -is precarious. Although the political juices are flowing in Massachusetts, with an eye on November 6th, Massachusetts decision-makers have not faced up to the problems inherent in the long-term, structural spending patterns of the state's budget.
Our five-year budget projection indicates that if expenditure trends continue without dramatic restructuring - particularly in the "non-discretionary" accounts - the Commonwealth faces a steady …
After The Miracle: A History And Analysis Of The Massachusetts Fiscal Crisis: Being A Drama In Five Acts, With An Implied Invitation To The Reader To Participate In The Crafting Of The Final Act, Joseph S. Slavet, Raymond G. Torto, Edmund Beard, Louis C. Dinatale
After The Miracle: A History And Analysis Of The Massachusetts Fiscal Crisis: Being A Drama In Five Acts, With An Implied Invitation To The Reader To Participate In The Crafting Of The Final Act, Joseph S. Slavet, Raymond G. Torto, Edmund Beard, Louis C. Dinatale
John M. McCormack Graduate School of Policy and Global Studies Publications
"After the Miracle" documents the factors that have shaped the recent political debate in Massachusetts and are likely to determine continuing economic and fiscal conditions in Massachusetts in the near future. The paper indicates that 1990 may begin a decade of real limits for Massachusetts. The economy has stagnated and the next two years will be a period of deep economic uncertainty. It is also clear that a resurgence, like that of the boom period of the eighties, is unlikely to be replicated.
The 1980's was a period when state-local spending in Massachusetts, propelled by the infusion of double-digit tax …