Does Oregon Need a Rainy Day Fund? Like a Fish Needs a Bicycle
Posted: 11 Apr 2005
The authors write that Oregon couldn't afford to establish a rainy day fund; borrowing in times of state fiscal crisis is cheaper. The only workable alternative to countercyclical saving or borrowing is a substantial overhaul of Oregon's revenue code, and that's a high price to pay for fiscal stability, the authors say.
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