Reforms to help solve our fiscal problems
Time was, Massachusetts seemed to undergo alternating periods of fiscal famine and feast. The economy would slump, revenues would tail off, and state government would struggle through a couple of lean years. But when recovery came, it was generally a strong one. No longer. Those expecting a return to the sort of revenue riches Massachusetts saw in the mid-1980s and then again in the mid-to-late 1990s — inflows so strong they allowed for both tax cuts and big program expansions — are apt to be disappointed. That’s why policymakers need to make more money-saving reforms.