Re:CAP Recommends | To Prepare for the Next Recession, States Take Stress Tests

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December 16, 2016
Re:CAP Staff

Re:CAP Recommends To Prepare for the Next Recession, States Take Stress Tests by Liz Farmer for Governing

Who: State governments are stepping out, and some like Utah are emerging as trendsetters in economic preparedness.

What: Just as FEMA prepares all-hazard contingencies for disasters, states are stress-testing their budgets to prepare for uncertain futures.

Takeaway: As the country moves on from the Great Recession, the lesson is simple — be prepared for the unexpected. States are heeding this advice by looking hard at revenue sources and fiscal reserves, and outcomes suggest there is room for growth in preparedness. Current stress testing is setting benchmarks and models for further use by governments and organizations.

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