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If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences for both the federal government and the economy.
Highlighting state-level efforts to solve structural deficit problems. While most discussions on America's fiscal policy focus on the federal level, state governments also face daunting budget challenges.
Fiscal Solutions Phase II: Develop fiscal solutions proposals, including identification of top policy priorities for the new Administration and Congress, proposal implementation over the first ten years, and how the proposals address the "fiscal cliff."