“The combination of (1) under funding the rainy day fund during an upswing period, (2) numerous tax cuts which are likely to permanently downsize the General Fund, (3) a super-majority requirement for all tax increases, (4) the strong cyclicality of revenues, and (5) an increased demand for social services during recessions will result in severe expenditure cuts in some government services in the next economic downturn.”
- Alberta Charney, Arizona’s Economy, August 1994
- Alberta Charney, Arizona’s Economy, August 1994
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