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Writing for the Brookings Up Front blog, Stuart Butler and Timothy Higashi urge fiscal policymakers to look beyond the current crisis. Extraordinary short-term spending is justified, they agree, but, they urge that "we also need to put in place - ideally as part of ongoing stimulus measures - procedures that will help policymakers and the public to prepare for the less urgent but equally important task of managing the future fiscal and economic threats from today's emergency actions."
They are right that we need better long-term fiscal rules to avoid long-term budget chaos. Even more