As the economy continues the longest period of expansion in its history, economists are weighing the likelihood of a downturn. The past two recessions, in 2001 and 2007, significantly affected state revenue, prompting the federal government to provide emergency stimulus funding to help states shore up their budgets. Deploying those resources and ensuring that they served their intended purpose required unprecedented coordination among federal and state agencies, especially during the 2007 recession. Understanding what worked in that collaborative effort can help both levels of government prepare for the next economic contraction.
On Friday, Sept. 13, The Pew Charitable Trusts hosted an event on the importance of federal-state coordination during a recession. The discussion featured remarks from former governors Jim Douglas (R-VT) and Ted Kulongoski (D-OR), preceded by a talk on the economic outlook by economist Mark Zandi.
Mark Zandi, chief economist, Moody’s Analytics (@economics_ma)
The Hon. Jim Douglas (R), governor of Vermont, 2003-11; chair of the National Governors Association, 2009-10
The Hon. Ted Kulongoski (D), governor of Oregon, 2003-11
Moderator: Liz Farmer, journalist and fiscal policy expert (@LizFarmerTweets)
Ray Scheppach, director of the National Governors Association, 1983-2011
Ed DeSeve, special adviser to the President for Recovery and Implementation, 2009-11 (@EdDeSeve)
Tom Hanson, commissioner of Minnesota Management and Budget, 2006-10 (@TomHansonMN)
Moderator: Anne Stauffer, director, The Pew Charitable Trusts (@AStaufferDC)
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