Download or read book State and Local Budget Surpluses and the Effect of Federal Macroeconomic Policies written by Edward M. Gramlich and published by . This book was released on 1979 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Surpluses written by United States. General Accounting Office and published by . This book was released on 1999 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Surpluses written by Thomas M. James and published by DIANE Publishing. This book was released on 2003-06 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews the experience of 6 nations with budget surpluses (BS) in 1999 -- Australia, Canada, New Zealand, Norway, Sweden, and the U.K. Determines how these nations achieved BS, used BS to address long-term budgetary pressures, and adapted their budget processes once BS were achieved. Like the U.S., these nations achieved BS largely as the result of improving economies and sustained deficit reduction efforts. As they entered a period of BS, these nations debated how BS should be used and developed unique strategies for using BS to address national priorities. This experiences suggest that it is possible to sustain support for continued fiscal discipline during a period of BS while also addressing selected pent-up demands.
Download or read book Budget Surpluses Deficits and Government Spending written by Richard K. Vedder and published by . This book was released on 1998 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Budget written by Allen Schick and published by Brookings Institution Press. This book was released on 2008-05-31 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal budget impacts American policies both at home and abroad, and recent concern over the exploding budgetary deficit has experts calling our nation's policies "unsustainable" and "system-dooming." As the deficit continues to grow, will America be fully able to fund its priorities, such as an effective military and looking after its aging population? In this third edition of his classic book The Federal Budget, Allen Schick examines how surpluses projected during the final years of the Clinton presidency turned into oversized deficits under George W. Bush. In his detailed analysis of the politics and practices surrounding the federal budget, Schick addresses issues such as the collapse of the congressional budgetary process and the threat posed by the termination of discretionary spending caps. This edition updates and expands his assessment of the long-term budgetary outlook, and it concludes with a look at how the nation's deficit will affect America now and in the future. "A clear explanation of the federal budget... [Allen Schick] has captured the politics of federal budgeting from the original lofty goals to the stark realities of today."—Pete V. Domenici, U.S. Senate
Download or read book The Economics of the Federal Budget Surplus written by and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal 1998 marked the first year that total receipts exceeded outlays in the federal budget since 1969. Since then, the budget has been in surplus and official projections expect the budget to remain in surplus for the foreseeable future. Congressional Budget Office (CBO) baseline projections indicate that the budget surpluses are expected to grow steadily over the next 10 years. Over fairly short periods of time, say three or four years, fiscal policy can affect the rate of economic growth by adding to, or subtracting from, aggregate demand. For a time, the effect on the economy may even be larger than the initial change in the budget. These effects, however, tend eventually to diminish because of either higher interest rates or rising prices. Estimates of the multiplier effect on the economy of a change in fiscal policy vary, but most of them suggest that it reaches a peak somewhere between one and one-and-a-half times size of the change in the budget. In most economic models, that peak effect is realized within one or two years of the initial change in policy. One measure economists use to assess fiscal policy is the structural, or standardized-employment, budget. This measure estimates, at a given time, what outlays, receipts and the surplus would be if the economy were at full employment. Although the actual budget has been in surplus since 1998, the standardized measure first registered a balanced budget in 1999. Between 1992 and 2000, the actual budget surplus increased from -4.7% to 2.4% of gross domestic product (GDP), a shift of 7.1 percentage points. Over the same period the standardized measure rose from -2.9% to 1.1% of GDP. That suggests that a little more than half of the shift was the result of changes in policy, and a little less than half was attributable to the economic expansion. In the long run, economic growth is determined primarily by three factors; growth in the labor force, the rate of technological advance, and the amount of capital available to the workforce. Of the three, the last one may be the most susceptible to the influence of policymakers. The larger the capital stock is, the more productive the labor force tends to be. While it is possible for fiscal policy to have an effect on the rate of technological progress in the way public money is spent, it probably has a much larger effect on growth through its influence on the size of the domestic stock of capital and the amount of capital available for each worker in the labor force. In 1996, the public sector contribution to national saving was small. By 2000, public sector saving had risen to 5.3% of GDP. Over the same period, private sector saving fell from 16.5% of GDP to 13.0%. Net inflows of foreign capital rose from 1.4% to 4.3% of GDP. Total funds available for investment in the U.S. from all sources rose from 18.7% to 22.6% of GDP.
Download or read book How Real is the Federal Deficit written by Robert Eisner and published by Simon and Schuster. This book was released on 2010-05-11 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eisner argues that the federal deficit as currently measured is inaccurate and misleading. When inflation is properly accounted for, he points out, a dramatically different picture of the deficit occurs. In light of these new deficit figures, Eisner challenges current eco nomic theory and interpretations of our recent past. He finds that the deficit has not been as large as recently measured and that efforts to reduce the deficit may do more harm than good. This book will spark serious debate among economists and policymakers. The clarity of its arguments and strength of its evidence are convincing. Strongly recommended for academic and large public libraries. Richard C. Schim ing, Economics Dept., Mankato State Univ., Minn. Copyright 1986 Reed Business Information, Inc.
Download or read book Budget Surpluses and Debt Reduction written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Alleged Budget Surplus Social Security Voodoo Economics written by Allen William Smith and published by Ironwood Publications (FL). This book was released on 2000 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the budget-surplus myth, the Social Security Trust Fund, and voodoo economics (economic malpractice) over the past 20 years. It exposes the deliberate deception of the public by politicians from both parties that has led to the erroneous belief that the government has surplus money that is available for financing a large tax cut or new government programs. The book points out that there is no significant non-Social Security surplus today and that the projected surpluses for the next decade are little more than wishful thinking based on unrealistic economic assumptions. The book includes a detailed history of the economic policies and economic malpractice of the past two decades and analyzes the economic proposals of presidential candidates Al Gore and George W. Bush.
Download or read book Managing Anticipated Budget Surpluses written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Joint Economic Committee (JEC), based in Washington, D.C., presents the full text of a paper entitled "Managing Anticipated Budget Surpluses," written by Hayden G. Bryan and published in November 1997. The paper discusses the economic consequences and public policy scenarios related to the use of a federal government budget surplus in the United States.
Download or read book The Politics of Budgetary Surplus written by Scott Brenton and published by Springer. This book was released on 2016-11-04 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book probes the hollow rhetoric of debt, deficits and austerity. It explores the decisions of parties of the left which have attempted to deflect criticisms of economic mismanagement and gain trust by depoliticising the budget process and financial management with various rules, albeit with elements of discretion. The book argues that this is a perverse form of trust as it is premised on the belief that political leaders and the public sector cannot be trusted to make appropriate decisions given the economic circumstances of the time and need rules, but at the same time that they can be trusted to follow the rules. The book also explores parties of the right, which often advocate stricter rules and which tend to be the least effective. The book describes how few conservative governments have admirable records on sustained surpluses, given a propensity for unsustainable tax cuts, and the future opportunities this provides to advance a political program of deeper spending cuts.
Download or read book Concurrent Resolution on the Budget written by United States. Congress. Senate. Committee on the Budget and published by . This book was released on 1999 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Surpluses written by United States. General Accounting Office and published by . This book was released on 1999 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Surpluses written by and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated projections released on July 15 by the Congressional Budget Office (CBO) indicate budget surpluses rising from $63 billion (0.9% of GDP) in FY1998 to more than $100 billion (1.3% to 1.5% of GDP) from FY2002 through FY2005 and over $200 billion (1.8% to 1.9%) from FY2006 through FY2008.1 Tax cuts or spending increases now being discussed would erode these estimates. Surpluses would increase national saving, reduce federal debt and release funds for use by private investors and other levels of government. Part would be transferred abroad, but domestic investment should rise by a sizeable fraction of the surpluses, and economic growth should quicken slightly. Transferring surpluses to Social Security or to related retirement accounts could have much the same effect. If projected surpluses occurred, the interest share of federal outlays and the federal-debt/GDP ratio would decline by 2006 to below the levels of the mid-1970s. Eliminating surpluses through tax cuts would channel funds partly to increased consumption, but the interest share of federal outlays and the debt/GDP ratio would fall substantially with balanced budgets even without surpluses. Eliminating surpluses through increases (or smaller cuts) in federal entitlement spending would foster consumption, but using them to fund investment projects could boost economic growth somewhat, provided that the investments had social rates of return rivaling those of private investments. Surpluses are expected to vanish after 2010; tax cuts or spending boosts not then repealed or offset would increase future deficits.
Download or read book Budget surpluses experiences of other nations and implications for the United States report to the Chairman and ranking minority member Committee on the Budget U S Senate written by and published by DIANE Publishing. This book was released on with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Long term Budget Outlook written by Benjamin R. Page and published by Congress. This book was released on 2000 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This report examines some of the pressures on the federal government that are likely to develop over the next 75 years. It is based on the Congressional Budget Office's (CBO's) 10-year baseline projections of July 2000"--Pref.
Download or read book Restoring Fiscal Sanity written by Alice M. Rivlin and published by Rowman & Littlefield. This book was released on 2004-03-29 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is standing at a critical juncture in its fiscal outlook. After experiencing a brief period of budget surpluses at the turn of the century, the federal government will run deficits that add about $4 trillion to the national debt over the next decade. Substantial deficits will likely continue long into the future because the looming retirement of the baby boom generation will raise spending in Social Security, Medicare, and Medicaid. At the same time, the federal government appears to be neglecting spending in key areas of social and economic policy. The nation thus faces a vital choice: continue down a path toward future fiscal crisis while under investing in critical areas, or increase resources in high-priority areas while also reducing the overall budget deficit. This choice will materially affect Americans' economic status and security in the immediate future as well as over long horizons. In R estoring Fiscal Sanity, a group of Brookings scholars with high-level government experience provide an overview of the country's likely medium- and long-term spending needs and the resources available to pay for them. They propose three alternative fiscal paths that are more responsible than the current path. One plan emphasizes spending cuts, the second emphasizes revenue increases, and a third is a balanced mix between the two. The contributors address the policy choices in such areas as defense, homeland security, international assistance, and programs targeted to the less advantaged, the elderly, and other domestic priorities. In the process, they provide an understanding of the short- and long-run trade offs and illustrate how the budget can be reshaped to achieve high priority objectives in a fiscally responsible way.
