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California's Structural Deficit Crisis
Author(s) -
Savage James D.
Publication year - 1992
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00940
Subject(s) - recession , rest (music) , deficit spending , economics , state (computer science) , keynesian economics , great recession , financial crisis , macroeconomics , economic policy , medicine , mathematics , debt , algorithm , cardiology
California's 1991–92 budget is suffering from the cyclical effects of the current recession and from structural pressures that could keep the state's budget in the red for the rest of the decade. This article outlines the causes of California's deficit crisis, and briefly examines some of the potential solutions that are being considered to resolve the state's short‐ and long‐term fiscal difficulties.