Past Event

State Budgets Under Stress: Paths to Sustainability

June 24, 2011

7 a.m.

Chicago, IL
Federal Reserve Bank of Chicago
230 South LaSalle

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States have been through a series of tough budget cycles in the last years and some suggest more stress is ahead. The Federal Reserve Banks of Chicago, New York and Philadelphia in partnership with the John D. and Catherine T. MacArthur Foundation and NASBO are hosting this conference to look at the current state of budgets and long-term challenges.

Registration and Opening Remarks
8:00 a.m.

What Are the Current Conditions in the States?
8:40 a.m.
Budget directors and experts provide an overview of conditions.
How are states handling the gaps? Are they utilizing recurring solutions or just more gap filling?

Todd Berry, President, Wisconsin Taxpayers Alliance (Wisconsin)
Donald Boyd, Senior Fellow, Rockefeller Institute (New York)
Mike Morrissey, Senior Advisor, Governor's Office (Texas)
Laurence Msall, President, Civic Federation (Illinois)
Moderator: Scott Pattison, Executive Director, NASBO

The View From the Markets
10:15 a.m.
Rating agency professional and municipal analyst provide their views of the market dynamics and insights on the long-termchallenges.

Matt Fabian, Managing Director, Municipal Market Advisors
Gail Sussman, Managing Director, Moody's Investor Services
Moderator: Nora Fitzpatrick, Federal Reserve Bank of New York

Rules of Engagement for Rough Times
10:45 a.m.
Some of the leading minds in public finance will share their views on how to restructure state budgets. What are ways for states to face their pressures?

Tracy Gordon, Professor,University of Maryland/Brookings Institution, Political Dynamics in States
Randal Picker, Professor,University of Chicago School of Law, Bankruptcy
John Karl Scholz, Professor,University of Wisconsin, Federal Role and Policy
Moderator: Leonard Nakamura, Federal Reserve Bank of

Toward Economically Sustainable State Budgets
Lunch with Keynote Speaker
Robert Inman, Professor, The Wharton School,
University of Pennsylvania

Please feel free to share this invitation with colleagues who might be interested in attending.

RSVPs Required
by June 17, 2011

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