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A season of lessons in fiscal federalism.

Publication: Mississippi Business Journal
Publication Date: 30-MAR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The headlines accompanying many news stories lately have included an implied question mark when the topic relates to the recently passed federal stimulus package and its implementation and impact in the states. The recession and accompanying explosion of bailouts and stimulus packages are bringing about a level of confusion the likes of which we have never seen before. Tax-paying citizens are pretty reliable about cussing the tax-consuming government, but lately it appears there is confusion over which level of government would make the best target for their tirades.

Even the Mississippi Legislature appears to be on the verge of yelling "time out" in their efforts top peg a revenue estimate upon which to base a budget. Consider the following scenario: Recent news from the state's experts in fiscal prognostication indicate that Mississippi...

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