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Full-Text Articles in Social and Behavioral Sciences
Structurally Unbalanced: Cyclical And Structural Deficits In Arizona, Matthew Murray, Kristin Borns, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy
Structurally Unbalanced: Cyclical And Structural Deficits In Arizona, Matthew Murray, Kristin Borns, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy
Brookings Mountain West Publications
Though the Great Recession may be officially over, all is not well in Arizona. Three years after the collapse of a massive real estate “bubble,” the deepest economic downturn in memory exposed and exacerbated one of the nation’s most profound state fiscal crises, with disturbing implications for Arizona citizens and the state’s long-term economic health. This brief takes a careful look at the Grand Canyon State’s fiscal situation, examining both Arizona’s serious cyclical budget shortfall—the one resulting from a temporary collapse of revenue due to the recession—as well as the chronic, longer-term, and massive structural imbalances that have developed largely …
Structurally Unbalanced: Cyclical And Structural Deficits In California And The Intermountain West, Matthew Murray, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy
Structurally Unbalanced: Cyclical And Structural Deficits In California And The Intermountain West, Matthew Murray, Susan Clark-Johnson, Mark Muro, Jennifer Vey, Brookings Mountain West, Morrison Institute For Public Policy
Brookings Mountain West Publications
Though the Great Recession may be officially over, economic recovery is slow and tentative, particularly in California and much of the Intermountain West. Among other challenges, the protracted downturn in these states has exposed and aggravated a huge public-sector fiscal crisis—with disconcerting implications for citizens and states’ long-term economic health. This brief takes a careful look at the fiscal situation in Arizona, California, Colorado, and Nevada, examining both their serious cyclical budget shortfalls—those resulting from the recession and its aftermath—as well as the critical longer-term structural imbalances between revenues and expenditures that have developed in Arizona, California, and, to a …