Download or read book Perspectives on the Economic Implications of the Federal Budget Deficit written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-09 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perspectives on the economic implications of the federal budget deficit : hearing before the Subcommittee on Economic Policy of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... October 5, 2011.

Download or read book Perspectives on the Economic Implications of the Federal Budget Deficit written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perspectives on the economic implications of the federal budget deficit : hearing before the Subcommittee on Economic Policy of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... October 5, 2011.

Download or read book Perspectives on the Economic Implications of the Federal Budget Deficit written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Economic Policy and published by . This book was released on 2012 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Perspectives on the Economic Implications of the Federal Budget Deficit written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Economic Policy and published by . This book was released on 2012 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Budget Deficits and Debt written by Siamack Shojai and published by Bloomsbury Publishing USA. This book was released on 1999-01-30 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection is a critical evaluation of the impact of fiscal imbalances on the economy of industrialized and developing countries as prepared by a diverse group of scholars involved in advanced research on public finance. Technical issues, economic consequences and the political economy of budget deficits and government debt are covered in one succinct volume. The work provides a balanced presentation of neo-classical views on measures of government deficits; the budget process and major budgetary legislation in the United States; and the impact of deficits on economic activity, exchange rates, inflation, financial markets, trade balance, and economic growth. It also examines the political economy of government budgets in the OECD, select developing economies, and South Africa. From the 1950s to the 1980s, economic activity and growth were affected by fiscal imbalances and excessive government activity in many countries. Although many actors have made retrenchment attempts, economic research has not resolved the conflicting arguments about the impact of fiscal imbalances on the global economy. This book provides a balanced presentation of all major issues related to the impact of fiscal activity on the economy.

Download or read book Budget Policy written by and published by DIANE Publishing. This book was released on 1993-05 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the long-term effects of the federal budget, ways of enhancing the long-term perspective in budgeting, the need for a new decision-making framework to highlight the choice between consumption and investment spending, and difficult choices that are required concerning what responsibilities the federal government will carry and how those activities will be financed. 51 charts and tables

Download or read book The Budget Deficit and the National Debt written by Kenneth W. Thompson and published by . This book was released on 1997 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Budget Deficit and National Debt analyzes and attempts to better understand the problems associated with the debt and deficit. The theme of this book parallels the Miller Center's primary focus on governance and the presidency. The president is a key actor in submitting, approving, and administrating the budget. Therefore, the study of debt and deficit is in keeping with the Miller Center's focus on governance and the presidency. The book is divided into four sections. The first section discusses the debt and deficit from a variety of political perspectives and ideological approaches. Three contributors, representing different schools of thought and professional backgrounds, provide separate frameworks for considering the budget and deficit. The first section contrasts liberal, conservative, and independent views and compares the effects of the deficit on federal and local governments. The second section provides an overview of the origins and growth of the deficit and its effect on the U.S. economy. The authors outline interaction among and competition between economic and political forces operating in the United States, and they debate the merits of deficit reduction proposals. The third section examines the economic and political ramifications of the deficit, reviewing tactical and strategic errors and their consequences. The book concludes with a discussion of the political struggle over controlling the deficit and chronicles the ambitions and rivalries of two key political figures--Bill Clinton and Newt Gingrich. Their dispute over the seven year balanced-budget plan had significant influence on the policies of debt and deficit.

Download or read book From Surplus to Deficit written by Vanessa C. Sibhoan and published by Nova Science Publishers. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The annual federal budget deficit is the amount by which federal government outlays exceed revenues for a given fiscal year, with surpluses generated when revenues exceed outlays. Budget deficits or surpluses are often used to gauge national fiscal health, as budget balances over time determine levels of federal debt held by the public, and corresponding net interest payments required for debt service. During an economic downturn, budget deficits could be viewed as effective fiscal policy, with lawmakers enacting tax cuts and increasing federal spending to simulate economic activity. This book examines to what extent major legislative changes from 2001 to 2009 caused the budget to move from surplus to deficit.

Download or read book Federal Deficits and Debt written by Jamie Malone and published by . This book was released on 2016 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government incurs a budget deficit (also known as a net deficit) when its total outgoing payments (outlays) exceed the total money it collects (revenues). If instead federal revenues are greater than outlays, then the federal government generates a surplus. Deficits are measured over the course of a defined period of time--in the case of the federal government, a fiscal year. Over time, persistent budget deficits can hamper economic growth. Federal debt, either publicly held or intragovernmental, is funded through private capital. In the absence of federal debt, a portion of such funding would likely have been used on private investment projects that could increase the future productive capabilities of the economy. Large or rapidly increasing debt levels could also make the economy more susceptible to a recession, although that dynamic has not manifested itself in the United States. This book explores distinctions in the concept and composition of deficits and debt, explains how these two measures interact, and discusses their possible effects on the economy. Furthermore, the book discusses the size of projected budget deficits; how much the deficit would need to be reduced to return to long-term sustainability; analyzes alternative time frames for reducing the deficit; and discusses broad policy choices for reducing the deficit.

Download or read book The Economic Implications of the Long term Federal Budget Outlook written by Marc Labonte and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The retirement of the baby boomers, rising life expectancy, and the rising cost of medical care are projected to place current federal policy on an unsustainable fiscal basis over the next several decades. Social Security outlays are projected to rise from 4.3% of gross domestic product (GDP) today to 6.1% of GDP in 2030, and Medicare and Medicaid outlays are projected to rise from 4.1% today to as much as 8.4% of GDP in 2030 and 12.5% of GDP in 2050. These increases in spending are not expected to subside after the baby boomers have passed away. Without any corresponding rise in revenues, this spending path would lead to unsustainably large budget deficits above 10% of GDP, which would push up interest rates and the trade deficit, crowd out private investment spending, and ultimately cause fiscal crisis. To avoid this outcome, taxes would need to be raised or expenditures would need to be reduced. Altering taxes and benefits ahead of time would reduce the size of adjustments required in the future, if the proceeds were used to increase national saving. (Making changes ahead of time would also allow individuals time to adjust their private saving behavior.) National saving can be increased by using the proceeds to pay down the national debt, purchase financial securities, or finance individual accounts. But if the budget savings is offset by new spending or tax cuts, the government's ability to finance future benefits will not have improved. Individual accounts financed by increasing the budget deficit, however, would not increase national saving or reduce the government's fiscal imbalance and could exacerbate the government's fiscal imbalance over the 75-year projection. Relatively small tax increases or benefit reductions could return Social Security to long-run solvency. Restraining the growth in Medicare and Medicaid spending is more uncertain and difficult, however. The projected increase in spending is driven more by medical spending outpacing general spending increases than by demographic change. But it is uncertain how to restrain cost growth because much of it is the result of technological innovation that makes new and expensive treatments available. If future medical spending grows more slowly than projected, then the long-term budget outlook improves dramatically. From a government-wide perspective, Social Security or Medicare trust fund assets cannot help finance future benefits because they are redeemed with general revenues. The reason revenues are not projected to rise along with outlays is that these programs are financed on a pay-as-you-go basis: current workers finance the benefits of current retirees. In the future, there will be fewer workers per retiree. Once a pay-as-you-go system is up and running and faced with an adverse demographic shift, there is no reform that can avoid making some present or future generation receive less than past generations. Under current policy, future generations will be made worse off by higher taxes or lower benefits. Under a reform that increases national saving, some of that burden would be shifted to current generations. Overall, current budget deficits remove the system's limited existing prefunding, exacerbating the future fiscal shortfall. Reducing the current budget deficit is the most straightforward and concrete step that can be taken today to reduce the future shortfall.

Download or read book The Deficit Problem in Perspective written by Richard J. Cebula and published by Free Press. This book was released on 1987 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Download or read book The Great Deficit Scares written by Robert Eisner and published by . This book was released on 1997 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: American politics often seems to be focused on three deficits, real and potential: the federal budget, the Social Security Trust Fund, and the trade balance. Robert Eisner, past president of the American Economic Association, explains why this is an unhealthy situation as well as a source of much misunderstanding. He argues that simply looking at the raw numbers creates misimpressions about the country's real economic situation, as well as provoking potentially damaging ideas for "remedies." Eisner points out that Social Security Trust Fund deficits can be "fixed" by simple changes in accounting procedures or funding requirements. And America's trade deficit will not bankrupt the country--servicing America's foreign obligations will take only a tiny share of its national wealth. As with any other loan, Eisner reminds us, it is what deficits are spent on that counts: tax cuts or investments in education, research, or the nation's capital stock. Eisner maintains that the economic dragons the American nation should be attempting to slay do not entail mythically measured budget or current account deficits. The real economic troubles that America faces are those of poverty, income inequality, and a failure to invest in human capital and public infrastructure.

Download or read book The Economic Consequences of Government Deficits written by L.H. Meyer and published by Springer. This book was released on 1983-09-30 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 29 and 30, 1982, the Center for the Study of American Business and the Institute for Banking and Financial Markets at Washington "The Economic Consequences of University cosponsored a conference on Government Deficits. " This was the sixth annual Economic Policy Con ference sponsored by the Center, and the first it has cosponsored with the Institute. This book contains the papers and comments delivered at that conference. Recent and prospective large federal deficits have prompted a thorough reconsideration of the political sources and economic consequences of government deficits. The papers in Part I focus on the implications of deficits for monetary growth and inflation, and the papers in Part II consider the effect of deficits on interest rates and capital formation. The papers in Part III deal with the political sources and remedies for the explosive growth in government spending and increased reliance on deficits. The papers in Part I by Alan S. Blinder, Professor of Economics at Princeton University, and Preston J. Miller, Assistant Vice President and Research Advisor at the Federal Reserve Bank of Minneapolis, discuss the relation between monetary growth and deficits and present evidence on the of deficits on inflation and output. A deficit is said to be monetized effects vii viii THE ECONOMIC CONSEQUENCES OF GOVERNMENT DEFICITS when the Federal Reserve purchases bonds to aid the Treasury in financing the deficit.

Download or read book The Federal Budget Deficit and Its Impact on Long term Economic Growth written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization and published by . This book was released on 1992 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Deficits written by Roland Sturm and published by Addison Wesley Publishing Company. This book was released on 1999 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed study follows, of the experience of Britain, Canada, Germany and the United States. Consideration of the same issues in each help the comparison: the history of the deficit problem; the institutional framework for decisions on the deficit; the importance of the debt problem in the national political and economic discourse; and the effects of deficit control policies. The concluding chapter is an in-depth comparison of the four countries and puts the problem of public deficits into a political science perspective.

Download or read book Federal Budget Deficits written by Richard J. Cebula and published by Free Press. This book was released on 1987 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: