What to Look for in State Budgets

From Bond Buyer:

William Glasgall, Director of State and Local Programs at The Volcker Alliance, discusses what’s important to keep in mind when looking at state budgets. He describes the benefit of using GAAP budgeting and points to the perils states face when adopting short-term fiscal maneuvers. He also looks at how Puerto Rico has become the ultimate example of what happens to a government after years of bad budgeting decisions.