Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

The Economic Stabilization Fund, created by the state legislature in 1988 as a sort of state savings account, is often also referred to as what

Sagot :

sebastiansierraocm

Answer:

The Economic Stabilization Fund is also known as the rainy day fund.

Explanation:

This is a fund that the state of Texas (and many other U.S. states) can access in times of economic distress, in order to fund state spending.

The reason for this is that Texas, by it's constitution, must run a balanced budget, meaning that it cannot take on debt in case of deficit. This is why, in times when revenues do not match expenditures, the rainy day fund can be used as an option of last resort.

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.