"In this book, nineteen experts examine topics ranging from constitutional reform and debt fatigue to fiscal rules and zero-based budgeting. Together, these contributions inform a multifaceted, nuanced argument for the need to formalize spending restraint and redefine state debt to include...

This paper presents a brief description of fiscal sustainability and government budget accounting issues - as they are being hotly debated in the United States. The debate is proceeding in the context of two projects underway at the Federal Accounting Standards Advisory Board (FASAB). One of...

The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the...