These limits on state-level budget deficits are a logical implication of the fact that US states cannot create money to fill fiscal gaps. These constitutional rules prevent the kind of deficit and debt problems that have beset the eurozone, where capital markets ignored individual countries’ lack of monetary independence.
这些在州层面的预算赤字限制政策正是美国各州无法印钱来填补赤字空缺的逻辑结果。这些宪法规定防止了各州出现欧元区那样的赤字和借贷问题，而资本市场也忽略了各单一欧洲国家缺乏货币独立性的事实。