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Deficit Reduction
Deficit reduction can refer to any method of reducing a government budget deficit (including reduced government spending and/or increased government revenue). See also * Deficit (other) *Deficit Reduction Act (other) * Deficit reduction in the United States *United States Congress Joint Select Committee on Deficit Reduction The Joint Select Committee on Deficit Reduction,Budget Control Act of 2011, , Title IV colloquially referred to as the Supercommittee, was a Joint committee (legislative), joint Select or special committee (United States Congress), select committ ... {{Fin-theory-stub Deficit spending Government spending Tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United States Congress Joint Select Committee On Deficit Reduction
The Joint Select Committee on Deficit Reduction,Budget Control Act of 2011, , Title IV colloquially referred to as the Supercommittee, was a Joint committee (legislative), joint Select or special committee (United States Congress), select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011. This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis of 2011, United States debt-ceiling crisis. The objective of the committee was to develop a deficit reduction plan over 10 years in addition to the $917 billion of cuts and initial debt limit increase of $900 billion in the Budget Control Act of 2011 that avoided a U.S. sovereign default. The committee recommendation was to have been subject to a simple vote by the full legislative bodies without amendment; this extraordinary provision was included to limit partisan gridlock. The goal outlined in the Budget Control Act of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Budget Deficit
The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government government revenues, revenues and government expenditures, spending. For a government that uses accrual accounting in the public sector, accrual accounting (rather than cash accounting) the budget balance is calculated using only spending on current operations, with expenditure on new capital assets excluded. A positive balance is called a ''government budget surplus'', and a negative balance is a ''government budget deficit''. A government budget presents the government's proposed revenues and spending for a financial year. The government budget balance can be broken down into the ''primary balance'' and interest payments on accumulated government debt; the two together give the budget balance. Furthermore, the budget balance can be broken down into the ''structural balance'' (also known as ''cyclically-adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Spending
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment (government Gross fixed capital formation, gross capital formation). These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product. Spending by a government that issues its own currency is nominally self-financing. However, under a full employment assumption, to acquire resources produced by its population without potential inflationary pressures, removal of purchasing power m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Revenue
Government revenue or national revenue is money received by a government from Tax revenue, taxes and Non-tax revenue, non-tax sources to enable it, assuming full resource employment, to undertake non-inflationary public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy. The collection of revenue is the most basic task of a government, as the resources released via the collection of revenue are necessary for the operation of government, provision of the common good (through the social contract in order to fulfill the public interest) and enforcement of its Law, laws; this necessity of revenue was a major factor in the development of the modern Bureaucracy, bureaucratic state. Government revenue is distinct from government debt and money creation, which both serve as temporary measures of increasing a government's money supply without increasing its revenue. Sources There are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Deficit (other)
A deficit is the amount by which a sum falls short of some reference amount. Economics * Deficit (economics), the excess of an organization's expenditure over its revenue Psychology * Attention deficit hyperactivity disorder, a developmental disorder * Cognitive deficit, any characteristic that acts as a barrier to cognitive performance Other * Defect (geometry), angular deficit * ''Déficit'', a 2007 Mexican film by Gael García Bernal See also * Government debt A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occu ..., the accumulated amount of deficits; "debt" and "deficit" are sometimes confused. * Deficit Reduction Act (other) * Deficit reduction * Fiscal (other) {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Deficit Reduction Act (other)
The Deficit Reduction Act may refer to various pieces of United States legislation, including: * Deficit Reduction Act of 1984 * Gramm-Rudman-Hollings Deficit Reduction Act of 1985 * Omnibus Budget Reconciliation Act of 1993 * Deficit Reduction Act of 2005 The Deficit Reduction Act of 2005 is a United States Act of Congress concerning the Federal budget (United States), federal budget that became law in 2006. Legislative history The Senate's version passed after a tie-breaking vote was cast by Vice ... See also * Deficit (other) {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Deficit Reduction In The United States
Deficit reduction in the United States refers to taxation, spending, and economic policy debates and proposals designed to reduce the federal government budget deficit. Government agencies including the Government Accountability Office (GAO), Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the U.S. Treasury Department have reported that the federal government is facing a series of important long-run financing challenges, mainly driven by an aging population, rising healthcare costs per person, and rising interest payments on the national debt. CBO reported in July 2014 that the continuation of present tax and spending policies for the long-run (into the 2030s) results in a budget trajectory that causes debt to grow faster than GDP, which is "unsustainable." Further, CBO reported that high levels of debt relative to GDP may pose significant risks to economic growth and the ability of lawmakers to respond to crises. These risks can be addresse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. A central point of controversy in economics, government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom times so that there is no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Spending
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment (government Gross fixed capital formation, gross capital formation). These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product. Spending by a government that issues its own currency is nominally self-financing. However, under a full employment assumption, to acquire resources produced by its population without potential inflationary pressures, removal of purchasing power m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
