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The U. S. Needs Fiscal Stress Tests

By John Merrifield and Barry Poulson Ever since the financial crisis, elected officials have debated the efficacy of financial market stress tests. Consequently, the bank stress tests incorporated in the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010

Bourne – Heartland Chapter – 2nd Draft

International Experience with Fiscal Rules Preceding chapters explained the need for federal budget discipline, outlined how fiscal rules might help achieve it, and analyzed the political dynamics behind the dire federal debt outlook. To recap, the federal budget deficit is