Using your favorite search engine, locate the federal budget and California’s budget for the current fiscal year. Compare and contrast both budgets in an essay consisting of no less than 500 words, and include the following:
- Discuss the budgeting tools utilized by both government types.
- Discuss the impact of market inefficiencies on both government types.
- Discuss the use of rainy day funds by the state and whether or not something similar would work for the federal government. If you feel it would work for the federal government, please explain how you think it would work. If you do not think it will work, please explain your reasoning.
Hyman, D. N. (2014). Public finance: A contemporary application of theory to policy (11th ed.). Cengage Learning. https://online.vitalsource.com/#/books/9781305474253