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The President's proposals would, relative to CBO's current-law baseline, boost deficits from 2014 through 2016 but reduce them from 2017 through 2024, CBO and JCT estimate. Deficits would total $6.6 trillion between 2015 and 2024, $1.0 trillion less than the cumulative deficit in CBO's baseline....
Persistent link: https://www.econbiz.de/10010813772
Under current law, the deficit will decrease to $492 billion in 2014, CBO projects, as revenues continue rebounding from their low in the recession. But beginning in 2016, deficits will rise again—largely because of an aging population, rising health care costs, an expansion of federal...
Persistent link: https://www.econbiz.de/10010764002
Nowadays some Public Administrations are reforming their information systems in order to adapt them to new needs of public management. In this sense, Budget as the main management tool needs to be part of these reforms. There are only a few number of countries that have adopted a results based...
Persistent link: https://www.econbiz.de/10005773035
Fiscal policy, including its expenditure aspect, is often discussed and analysed from a variety of angles in the literature on public finances, undoubtedly due to the major importance of this topic. However, not all areas of the expenditure part of fiscal policy have been subjected to in-depth...
Persistent link: https://www.econbiz.de/10011249475
Under the President’s proposed budget for 2016, CBO estimates, the federal budget deficit would decline from $486 billion in 2015 to $384 billion in 2016, but then climb in subsequent years, reaching $801 billion in 2025. Federal debt held by the public would remain in the vicinity of 72...
Persistent link: https://www.econbiz.de/10011272458
When policymakers look to trim fat from the federal government they too often ignore half the problem: the vast and complicated set of spending programs administered by the IRS. These programs are often referred to as tax expenditures, but this paper argues that they should be viewed just like...
Persistent link: https://www.econbiz.de/10014196158
The United States is the only developed country to practice a system of extraterritorial taxation that treats the tax residents of other countries as simultaneously subject to U.S. worldwide taxation based on citizenship. This extraterritorial tax system is a separate and more punitive tax...
Persistent link: https://www.econbiz.de/10013218298
Economies governed by former economics students grow faster than economies governed by leaders with other education backgrounds; a result which is most evident for presidents. Faster growth (average growth) occurs during an economic leader's first year (entire tenure), primarily through...
Persistent link: https://www.econbiz.de/10012905504
The idea of a Universal Basic Income (UBI) is heavily discussed in the UK, with support and opposition from several parts of the political spectrum. This idea has been around for a long time and was first formulated more than two centuries ago. There have been several times when it has attracted...
Persistent link: https://www.econbiz.de/10013225329
We study how a fragmented political landscape affects fiscal policy and economic growth with a sample of 15 Indian States over the period 1980-2000. We measure state-level political fragmentation with an inverse Herfindahl index for party vote shares in the state legislature. Our results show...
Persistent link: https://www.econbiz.de/10014477080