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Financing State and Local Services in a Cyclical Economy

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  • White, Fred C.
  • Musser, Wesley N.

Abstract

During the past six years, state-local government finance ranged from a situation of fiscal crisis in 1970, to a boom in 1972-73, and back to a crisis in 1974-75. This was far worse than any since the Great Depression. During the recession of 1970-71, rising state and local tax revenues and federal grants did not keep pace with increases in expenditures resulting primarily from inflation [21, p. 500]. More favorable conditions in 1972-73, though, saw researchers projecting large future surpluses for the remainder of the decade and calling for reductions in tax rates and increases in expenditures [11, pp. 364-366].

Suggested Citation

  • White, Fred C. & Musser, Wesley N., 1976. "Financing State and Local Services in a Cyclical Economy," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 8(1), pages 1-10, July.
    • Handle: RePEc:cup:jagaec:v:8:y:1976:i:01:p:1-10_01
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    References listed on IDEAS

    as
    1. Lonnie L. Jones & Paul H. Gessaman, 1974. "Public Service Delivery in Rural Areas: Problems and Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 936-945.
    2. Wilbur R. Maki, 1974. "Local Funding of Rural Public Services," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 946-952.
    3. Maki, Wilbur R., 1974. "Local Funding Of Rural Public Services," Staff Papers 13817, University of Minnesota, Department of Applied Economics.
    4. Jones, Lonnie L. & Gessaman, Paul H., 1974. "Public Service Delivery In Rural Areas: Problems And Decisions," 1974 Annual Meeting, August 18-21, College Station, Texas 284536, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. John S. Bottum, 1974. "Non-Local Funding of Rural Public Services," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 953-958.
    6. B. R. Eddleman, 1974. "Financing Public Services in Rural Areas: A Synthesis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 959-963.
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