COMPETING GOALS OF BUDGET REFORMS

Fullerton, Don

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https://hdl.handle.net/2142/110154 Copy

Description

Title

COMPETING GOALS OF BUDGET REFORMS

Author(s)

Fullerton, Don

Issue Date

2014-02-18

Keyword(s)

• economic
• research
• budget
• competing
• fiscal
• reforms
• policy
• deficit
• state
• reform

Abstract

Fixing the Illinois state budget requires more than simply balancing revenue and expenditures. Government budgeting also requires establishing the right mix of public goods and services in a way that is fair and efficient while minimizing interference in private markets. Understanding of these overarching social and economic goals is crucial for making budgeting choices. Indeed, the different goals may sometimes conflict with each other. This paper summarizes some basic principles that could support thoughtful taxing and public spending decisions. This paper groups these many goals into just eight categories. The numbered ordering does not indicate their relative importance. A single reform rarely satisfies all eight goals, and policymakers therefore face tradeoffs among these goals as they develop a budget plan.

Publisher

Institute of Government & Public Affairs

Type of Resource

text

Permalink

http://hdl.handle.net/2142/110154

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