This paper proposes a framework for studying the relationship between fiscal policy and state constitutions in terms of direct and indirect fiscal restraints and pressures. Fiscal restraints such as balanced budget rules limit the scope of government, while fiscal pressures such as education...

The United States faces severe fiscal challenges that can no longer be ignored. Entitlement spending, especially Medicare, is a ticking time bomb that must be defused. A growing debt burden raises concerns about the government's ability to pay back debt without strangling economic growth. These...

Alternative presentations of the same budget data tend to offer very different impressions, creating opportunities for a deeper understanding of fiscal health. However, these measures sometimes reflect hidden assumptions about government finances, so even a seemingly neutral way of presenting...