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Balanced Budget
A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A ''cyclically'' balanced budget is a budget that is not necessarily balanced year-to-year but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time. Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. Some economists argue that moving from a budget deficit to a balanced budget decreases interest rates, increases investment, shrinks trade deficits and helps the economy grow faster in the longer term. Other economists, especially (but not limited to) those associated with Modern Monetary Theory (MMT), downplay the need for ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government
A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 list of sovereign states, independent national governments and government agency, subsidiary organizations. The main types of modern political systems recognized are democracy, democracies, totalitarian regimes, and, sitting between these two, authoritarianism, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Mitchell (economist)
William Francis Mitchell (born 7 March 1952) is a professor of economics at the University of Newcastle, New South Wales, Australia and Docent Professor of Global Political Economy at the University of Helsinki, Finland. He is also a guest professor at Kyoto University, Japan since 2022. He is one of the founding developers of Modern Monetary Theory. Early life Mitchell was born to working class parents in Glen Huntly, a suburb of Melbourne, Australia, in March 1952. The family moved to Ashwood, a new Housing Commission suburb soon after. He attended Ashwood Primary School (1957–1963) and Ashwood High School (1964–1969). Education Mitchell holds the following degrees: PhD in Economics, University of Newcastle, 1998; Bachelor of Commerce, Deakin University, 1977; and Master of Economics Monash University, 1982. He completed a Master's Preliminary at the University of Melbourne in 1978 (with first-class honours). [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Osborne
George Gideon Oliver Osborne (born 23 May 1971) is a British retired politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017. The son of the Osborne & Little co-founder and baronet Peter Osborne, Osborne was born in Paddington and educated at Norland Place School, Colet Court and St Paul's School, London before studying at the University of Oxford as an undergraduate student of Magdalen College, Oxford. After working briefly as a freelancer for ''The Daily Telegraph'', he joined the Conservative Research Department in 1994 and became head of its political section. He went on to be a special adviser to Minister of Agriculture, Fisheries and Food Douglas Hogg and work for John Major at 10 Downing Street, including on Major's unsuccessful 1997 general elec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Sweden
The economy of Sweden is a highly developed export-oriented economy, aided by timber, hydropower, and iron ore. These constitute the resource base of an economy oriented toward foreign trade. The main industries include motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry, iron, and steel. Traditionally, Sweden relied on a modern agricultural economy that employed over half the domestic workforce. Today, Sweden further develops engineering, mine, steel, and pulp industries, which are competitive internationally, as evidenced by companies such as Ericsson, ASEA/ ABB, SKF, Alfa Laval, AGA, and Dyno Nobel. Sweden is a competitive open mixed economy. The vast majority of Swedish enterprises are privately owned and market-oriented. There is also a strong welfare state, with public-sector spending accounting up to three-fifths of GDP. In 2014, the percent of national wealth owned ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congressional Budget Office
The Congressional Budget Office (CBO) is a List of United States federal agencies, federal agency within the United States Congress, legislative branch of the United States government that provides budget and economic information to Congress. Inspired by California's California Legislative Analyst's Office, Legislative Analyst's Office that manages the state budget in a strictly nonpartisan fashion, the CBO was created as a nonpartisan agency by the Congressional Budget and Impoundment Control Act of 1974. Whereas politicians on both sides of the aisle have criticized the CBO when its estimates have been politically inconvenient, economists and other academics overwhelmingly reject that the CBO is partisan or that it fails to produce credible forecasts. There is a consensus among economists that "adjusting for legal restrictions on what the CBO can assume about future legislation and events, the CBO has historically issued credible forecasts of the effects of both Democratic and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2001 United States Federal Budget
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The United States Federal Budget for Fiscal Year 2001, was a spending request by President Bill Clinton to fund government operations for October 2000-September 2001. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2001, which must be authorized by Congress. Total Receipts ''(in billions of dollars)'' Total Outlays Outlays by budget function ''(in millions)'' References External links Status of Appropriations Legislation for Fiscal Year 2001 2001 2001 in American politics United States federal budget The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kicker (Oregon Tax Rebate)
The Oregon tax rebate, commonly referred to as the kicker, is a rebate calculated for both individual and corporate taxpayers in the U.S. state of Oregon when a revenue surplus exists at the end of each biennium, which occurs in odd years. The Oregon Constitution mandates that the rebate be issued when the calculated revenue for a given biennium exceeds the forecast revenue by at least two percent, which is then reflected in returns for odd tax years. Taxpayers will therefore typically file and receive any potential refund reflecting a kicker in ''even '' calendar years. The law was first enacted by ballot measure in 1980, and was entered into the Oregon Constitution with the enactment of Ballot Measure 86 in 2000. The Oregon Department of Revenue distributes the rebate to individuals in what is known to Oregonians as a kicker check. The kicker, which prevents ''surpluses'' above a certain size, is a complement to the balanced budget amendment, which prevents ''deficits.'' If th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budget Amendment
A balanced budget amendment or debt brake is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government. Balanced-budget provisions have been added to the constitutions of Germany, Hong Kong, Italy, Poland, Slovenia, Spain and Switzerland, among others, as well as to the constitutions of most U.S. states. In the United States, the Republican Party has in the past advocated but no longer advocates for the introduction of a balanced budget amendment to the United States Constitution. Balanced budget amendments are defended with arguments that they reduce deficit spending and constrain politicians from making irresponsible short-term spending decisions when they are in office. Research shows that balanced budget amendments lead to greater fiscal discipline. However, there is substantial agreement among economists that ''strict annual'' balanced budget amendments have harm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vermont
Vermont () is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, New Hampshire to the east, New York (state), New York to the west, and the Provinces and territories of Canada, Canadian province of Quebec to the north. According to the most recent U.S. Census estimates, the state has an estimated population of 648,493, making it the List of U.S. states and territories by population, second-least populated of all U.S. states. It is the nation's List of U.S. states and territories by area, sixth smallest state in area. The state's capital of Montpelier, Vermont, Montpelier is the least populous List of capitals in the United States, U.S. state capital. No other U.S. state has a List of largest cities of U.S. states and territories by population, most populous city with fewer residents than Burlington, Vermont, Burlington. Native Americans in the United States, Native Americans have inhabited the area for abou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Conservatism
In American political theory, fiscal conservatism or economic conservatism is a political and economic philosophy regarding fiscal policy and fiscal responsibility with an ideological basis in capitalism, individualism, limited government, and ''laissez-faire'' economics.M. O. Dickerson et al., ''An Introduction to Government and Politics: A Conceptual Approach'' (2009) p. 129. Fiscal conservatives advocate tax cuts, reduced government spending, free markets, deregulation, privatization, free trade, and minimal government debt. Fiscal conservatism follows the same philosophical outlook as classical liberalism. This concept is derived from economic liberalism. The term has its origins in the era of the American New Deal during the 1930s as a result of the policies initiated by modern liberals, when many classical liberals started calling themselves conservatives as they did not wish to be identified with what was passing for liberalism in the United States. In the United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Guarantee
A job guarantee is an economic policy proposal that aims to create full employment and price stability by having the state promise to hire unemployed workers as an employer of last resort (ELR). It aims to provide a sustainable solution to inflation and unemployment. The economic policy stance currently dominant around the world uses unemployment as a policy tool to control inflation. When inflation rises, the government pursues contractionary fiscal or monetary policy, with the aim of creating a buffer stock of unemployed people, reducing wage demands, and ultimately inflation. When inflationary expectations subside, expansionary policy aims to produce the opposite effect. By contrast, in a job guarantee program, a buffer stock of ''employed'' people (employed in the job guarantee program) is typically intended to provide the same protection against inflation ''without'' the social costs of unemployment, hence potentially fulfilling the dual mandate of full employment and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
