Date of Submission
Academic Programs and Concentrations
Project Advisor 1
L. Randall Wray
Project Advisor 2
Unlike the Federal Government, which has the unique legal power to issue a national currency, state and local governments (SLGs) depend on their revenue capacity for spending. Thus, the quality of public services provided by SLGs depends on adequate, stable funding and long-term commitments. This paper begins with an evaluation of the general fiscal condition of SLGs, meanwhile discerning specific budget areas that have become particularly distressed, such as education, healthcare, and infrastructure. Chapter 3 deals with how SLGs engage in municipal finance with private financial institutions. Finally, the fourth chapter presents how arranging a system of public banks across the United States can help alleviate fiscal distress for SLGs and redirect credit to promote public welfare.
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Disha, Erind, "Establishing Public Banks to Address State and Local Government Fiscal Problems" (2016). Senior Projects Fall 2016. 41.