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Boston's Recurring Crises: Three Decades Of Fiscal Policy, Joseph S. Slavet, Raymond G. Torto
Boston's Recurring Crises: Three Decades Of Fiscal Policy, Joseph S. Slavet, Raymond G. Torto
John M. McCormack Graduate School of Policy and Global Studies Publications
The word "deficit" has dominated the most recent 35 years of Boston's fiscal history. This report probes the experience and lessons of this history in order to propose a more permanent resolution of Boston's financial difficulties.
Three deficit categories are identified and analyzed: appropriation deficits, revenue deficits and overlay deficits. Over the past 35 years, the City has had 12 years of appropriation deficits, 19 years of revenue deficits and 28 years of overlay deficits. In each year the City's budget was certified as in balance. Deficits became a way of life. Fortunately the overlay deficit problem, except for the …
Private Banks And Public Money: An Analysis Of The Design And Implementation Of The Massachusetts Linked Deposit Program, James T. Campen
Private Banks And Public Money: An Analysis Of The Design And Implementation Of The Massachusetts Linked Deposit Program, James T. Campen
John M. McCormack Graduate School of Policy and Global Studies Publications
In March 1978, in accordance with the unanimous recommendations of two special commissions, the Treasurer of Massachusetts established a "linked deposit program." Under the terms of this program, a portion of the approximately $400 million available for short-term investment from the state's General Fund was to be deposited with in-state banks and thrift institutions, selected on the basis of their performance in promoting the economic and social welfare of Massachusetts citizens and communities through their lending and related activities.
Six years after its inception, the Massachusetts linked deposit program (LDP) has grown to become a sizable and stable part of …