The Public Manager Magazine Article
Member Benefit
Creating Public-Private Partnerships as a Fiscal Strategy
The public-sector environment has changed in the past four years. Reports from the Government Accountability Office (GAO) and other researchers note that all levels of government will experience fiscal shortfalls stretching far into the future, even assuming normal economic growth.
Mon Dec 24 2012
The GAO's study of state and local units of government forecast that the reductions will continue to grow by tenfold over the next 20 years if current policies continue. Furthermore, the transformation we are experiencing is so profound, with almost 40 percent of the economy coming from the global economy, that all levels of government face international challenges. Without new institutional arrangements, states and large regions will be left to forage in the global economy with an uncompetitive disadvantage. The convergence of these fiscal, demographic, and global stresses create four sets of challenges for federal executives: