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In Maryland, Fiscal Discipline Is the Budget Limit
Author(s) -
Deschenaux Warren G.
Publication year - 1997
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 - 10.1111/1540-5850.01095
Subject(s) - revenue , statutory law , budget process , balanced budget , economics , fiscal policy , limit (mathematics) , state (computer science) , public economics , public spending , process (computing) , macroeconomics , economic policy , finance , political science , law , mathematical analysis , mathematics , algorithm , politics , computer science , operating system
Maryland does not limit spending or revenues pursuant to a constitutional or statutory formula. It has developed a unique response to fiscal difficulties, which does not abdicate fiscal policy to formulas as happens under traditional limitation regimes The process used in Maryland is called Spending Affordability, and it serves to cause policymakers to prospectively focus on the relationship of public spending to the state's economy without altering the budget‐making process. This article examines the Spending Affordability model in use in Maryland.