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Chile has a rule that targets a structural budget balance.
America's underlying "structural" budget deficit is almost 7% of GDP.
"And if you look at this budget, you still have a multiple-year structural budget gap".
The aim remains to eliminate the structural budget deficit over four years.
Balancing the structural budget deficit is now forecast to happen in 2017-18.
That, he says, should help California fix its structural budget problems.
In economists' jargon, we've had a "structural" budget deficit since the mid-2000s.
"This Legislature has failed miserably to make tough decisions about addressing the state's structural budget deficit.
"Casinos are not a solution to pension and structural budget deficits and the workmen's comp problem".
Governments have big underlying structural budget gaps that will not be filled by economic recovery.
The structural budget deficit is much smaller than claimed, as is the need for adjustment.
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CEO of Professional Science Editing for Scientists @ prosciediting.com