...institutions and budget outcomes suggests that tightly drawn antideficit rules, especially when coupled with limits on government borrowing, induce smaller deficits...adjustment of taxes and spending to unexpected fiscal shortfalls. It is not unreasonable to interpret this evidence as suggesting that modifying the federal...

...concluded that "tightly drawn anti deficit rules, especially when coupled with limits on governmental borrowing, induce smaller deficits and more rapid...adjustment of taxes and spending to unexpected fiscal shortfalls." In another paper examining budget rules in the slates, the authors concluded that one...

...concluded that "tightly drawn anti deficit rules, especially when coupled with limits on governmental borrowing, induce smaller deficits and more rapid...adjustment of taxes and spending to unexpected fiscal shortfalls." In another paper examining budget rules in the states, the authors concluded that one...