The state’s finances are looking up as the economy picks up — that was the main message at the annual “Revenue Hearing” today. At the same time, all who spoke cautioned against over-confidence. Every December, lead budget writers for the Governor, the House and the Senate convene to hear presentations from leading experts on the …
Financial Outlook
How will we feel the federal budget sequester?
The federal budget sequestration will strain some visible federal programs — Head Start, air traffic control. It will hurt the poor. But what will the federal budget sequestration do to state and local government budgets? There are enough moving parts that the answer is not clear, but it appears that, overall, most state and local …
Continue reading “How will we feel the federal budget sequester?”
How will the federal budget sequester affect state and local government budgets?
The federal budget sequestration will strain some visible federal programs — Head Start, air traffic control. But what will the federal budget sequestration do to state and local government budgets? There are enough moving parts that the answer is not clear, but it appears that, overall, most state and local governments will feel relatively limited …
Continue reading “How will the federal budget sequester affect state and local government budgets?”
The state’s economic outlook
We should expect a tight budget year. If and only if the federal government maintains support to the states, we may be able to keep pace with inflation.
Long Term Fiscal Policy Framework
The Patrick administration, in collaboration with the legislature, has been doing a good job focusing on long-term financial issues. Click here for the state’s long-term financial model. In a nutshell, the model says that if we can get health costs under control and the economy continues to recover, we will be able to sustain our …
Economic Assumptions in the FY13 Budget
The consensus revenue estimate underlying the budget appears slightly optimistic and is more uncertain than in some years.