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Should the federal government bail out the states? Lessons from past recessions

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  • Richard H. Mattoon

Abstract

Like the economy in general, individual state economies are struggling in this recession. State governments face significant constraints in raising additional revenues. Most states are required to balance their budgets regardless of the economic environment. This article considers the role of the federal government in helping the states to manage their finances.

Suggested Citation

  • Richard H. Mattoon, 2009. "Should the federal government bail out the states? Lessons from past recessions," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Aug.
    • Handle: RePEc:fip:fedhle:y:2009:i:aug:n:265
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    File URL: http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2009/cflaugust2009_265.pdf
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    Keywords

    state finances; Federal government;

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