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Federal deficit reduction : choices and considerations / Carl Frankel and Dan Iglehart, editors.
- Format:
- Book
- Series:
- Economic issues, problems and perspectives series.
- Economic Issues, Problems and Perspectives
- Language:
- English
- Subjects (All):
- Deficit financing--United States.
- Deficit financing.
- Government spending policy--United States.
- Government spending policy.
- Budget deficits--United States.
- Budget deficits.
- United States.
- Physical Description:
- 1 online resource (176 pages) : illustrations.
- Place of Publication:
- New York : Nova Publishers, [2013]
- Summary:
- The United States is facing fundamental budgetary challenges. Federal debt held by the public exceeds 70 percent of the nation's annual output or GDP, a percentage not seen since 1950, and a continuation of current policies would boost the debt further. Although debt would decline to 58 percent of GDP in 2022 under the current-law assumptions that underlie the CBO's baseline projections, those projections depend heavily on significant increases in taxes and decreases in spending that are scheduled to take effect at the beginning of January. If, instead, lawmakers maintained current policies by preventing most of those changes from occurring, what the CBO refers to as the alternative fiscal scenario, debt held by the public would increase to 90 percent of GDP 10 years from now and continue to rise rapidly thereafter. This book reviews the scale and sources of the federal government's budgetary imbalance, various options for bringing spending and taxes into closer alignment, and criteria that lawmakers and the public might use to evaluate different approaches to deficit reduction.
- Contents:
- Choices for deficit reduction / Leigh Angres, Christi Hawley Anthony, Barry Blom and Janet Holtzblatt
- Confronting the nation's fiscal policy challenges : statement of Douglas W. Elmendorf, Director, Congressional Budget Office : Hearing on "The history and drivers of our nation's debt and its threats"
- Reducing the budget deficit : policy issues / Marc Labonte
- Economic effects of policies contributing to fiscal tightening in 2013 / Benjamin Page and Felix Reichling.
- Notes:
- Includes bibliographical references and index.
- Description based on print version record.
- ISBN:
- 1-62417-780-8
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