000			01221nam a22001577a 4500
999			_c517713 _d517713
008			210727b ||||| |||| 00| 0 eng d
100			_aDouglas, James W. and Raudla, Ringa _927977
245			_aWhat is the remedy for state and local fiscal squeeze during the covid-19 recession? More debt, and that is okay
260			_aAmerican Review of Public Administration
300			_a50(6-7), Aug-Oct, 2020: p.584-589
520			_aThe COVID-19 crisis is placing a tremendous fiscal squeeze on state and local governments in the United States. We argue that the federal government should increase its deficit to fill in the fiscal gap. In the absence of sufficient federal assistance, we recommend that states suspend their balanced budget rules and norms and run deficits in their operating budgets to maintain services and meet additional obligations due to the pandemic. A comparison with Eurozone countries shows that states have more than enough debt capacity to run short-term deficits to respond to the crisis. – Reproduced
650			_aPublic debt, Public deficits, Balanced budget norms, Fiscal crisis _925728
773			_aAmerican Review of Public Administration
906			_aPUBLIC DEBT
942			_cAR