Reserve Fund Balances & Rules Shape State Preparedness for Crisis

By Caleb Taylor What’s one tool states can use to weather financial downturns? David Mitchell and Dean Stansel have been studying state fiscal crises for more than  a decade.  As state finances falter from COVID-19’s impact, Mitchell and Stansel draw on their research in a recent opinion article in RealClearPolicy to show how long term […]

Why Arkansas’s Long-Term Reserve Fund May Not Weather the Next Rainy Day

By Dr. David Mitchell In a recent op-ed for the Arkansas Democrat-Gazette, I pointed out that families need to have rainy day funds to provide for any loss of income. Similarly, when state governments have unexpected general budget shortfalls, they need a way to pay for them.  And in the same way that families may […]