Skip to:
  1. Main navigation
  2. Main content
  3. Footer
Economic Commentary

Fiscal Policy and Fickle Fortunes: What’s Luck Got to Do With It?

If you buy a lottery ticket, you usually wait to see if you’ve won before going on a spending spree. This Economic Commentary explains why we ought to be just as careful about spending projected federal budget surpluses.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Altig, David 2000. “Fiscal Policy and Fickle Fortunes: What’s Luck Got to Do With It?” Federal Reserve Bank of Cleveland, Economic Commentary 4/1/2000.