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Government budget balance

Index Government budget balance

A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. [1]

63 relations: Aggregate demand, Alan J. Auerbach, Balance of trade, Bond (finance), Business cycle, Center for American Progress, Central bank, Consol (bond), Consumption (economics), Crowding out (economics), Current account, David Ricardo, Deficit hawk, Deficit spending, Financial Times, Fiscal gap, Fiscal policy, Fiscal policy of the United States, Fiscal year, Generational accounting, Government budget, Government budget balance, Government debt, Government revenue, Government spending, Gross domestic product, History of the United States public debt, Identity (mathematics), Inflation, Investors Chronicle, Laurence Kotlikoff, Macroeconomics, Martin Wolf, Mayer Amschel Rothschild, Modern Monetary Theory, Money, National Association of State Budget Officers, National debt of the United States, Norway, OECD, OPEC, Paul Krugman, Peruzzi, Public expenditure, Public finance, Real gross domestic product, Ricardian equivalence, Russia, Sectoral analysis, Sectoral balances, ..., Social security, Starve the beast, Stock and flow, Tax, Tax deduction, Taxation in the United States, Transfer payment, Unemployment, Unemployment benefits, United States federal budget, United States Treasury security, William Vickrey, Wynne Godley. Expand index (13 more) »

Aggregate demand

In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time.

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Alan J. Auerbach

Alan J. Auerbach is an American economist.

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Balance of trade

The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.

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Bond (finance)

In finance, a bond is an instrument of indebtedness of the bond issuer to the holders.

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Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

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Center for American Progress

The Center for American Progress (CAP) is a progressive public policy research and advocacy organization.

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Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.

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Consol (bond)

Consols (originally short for consolidated annuities, but subsequently taken to mean consolidated stock) was a name given to certain government debt issues in the form of perpetual bonds, redeemable at the option of the government.

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Consumption (economics)

Consumption is the process in which consumers (customers or buyers) purchase items on the market.

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Crowding out (economics)

In economics, crowding out is argued by some economists to be a phenomenon that occurs when increased government involvement in a sector of the market economy substantially affects the remainder of the market, either on the supply or demand side of the market.

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Current account

In economics, a country's current account is one of the two components of its balance of payments, the other being the capital account (also known as the financial account).

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David Ricardo

David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.

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Deficit hawk

Deficit hawk is a political slang term in the English speaking world for people who place great emphasis on keeping government budgets under control.

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Deficit spending

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.

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Financial Times

The Financial Times (FT) is a Japanese-owned (since 2015), English-language international daily newspaper headquartered in London, with a special emphasis on business and economic news.

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Fiscal gap

The fiscal gap is a measure of a government's total indebtedness proposed by economists Laurence Kotlikoff and Alan Auerbach, who define it as the difference between the present value of all of government's projected financial obligations, including future expenditures, including servicing outstanding official federal debt, and the present value of all projected future tax and other receipts, including income accruing from the government's current ownership of financial assets.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Fiscal policy of the United States

Fiscal policy is considered any changes the government makes to the national budget in order to influence a nation's economy.

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Fiscal year

A fiscal year (or financial year, or sometimes budget year) is the period used by governments for accounting and budget purposes, which vary between countries.

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Generational accounting

Generational accounting is a method of measuring the fiscal burdens facing today's and tomorrow's children.

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Government budget

A government budget is an annual financial statement presenting the government's proposed revenues and spending for a financial year that is often passed by the legislature, approved by the chief executive or president and presented by the Finance Minister to the nation.

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Government budget balance

A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year.

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Government debt

Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

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Government revenue

Government revenue is money received by a government.

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Government spending

Government spending or expenditure includes all government consumption, investment, and transfer payments.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.

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History of the United States public debt

The history of the United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in 1789.

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Identity (mathematics)

In mathematics an identity is an equality relation A.

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Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

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Investors Chronicle

The Investors Chronicle is a weekly magazine in the United Kingdom for private investors and is published by the Financial Times Group.

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Laurence Kotlikoff

Laurence Jacob Kotlikoff (born January 30, 1951) is an American academic and politician, who is a William Warren Fairfield Professor at Boston University.

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Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

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Martin Wolf

Martin Harry Wolf, CBE (born 1946) is a British journalist who focuses on economics.

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Mayer Amschel Rothschild

Mayer Amschel Rothschild, written also Anschel (23 February 1744 – 19 September 1812), was a German Jewish banker and the founder of the Rothschild banking dynasty.

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Modern Monetary Theory

Modern Monetary Theory (MMT or Modern Money Theory) is a macroeconomic theory that describes and analyses modern economies in which the national currency is fiat money, established and created by a sovereign government.

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

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National Association of State Budget Officers

The National Association of State Budget Officers (NASBO) has served as the professional membership organization for state finance officers for more than sixty years.

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National debt of the United States

The national debt of the United States is the public debt carried by the federal government of the United States, which is measured as the face value of the currently outstanding Treasury securities that have been issued by the Treasury and other federal government agencies.

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Norway

Norway (Norwegian: (Bokmål) or (Nynorsk); Norga), officially the Kingdom of Norway, is a unitary sovereign state whose territory comprises the western portion of the Scandinavian Peninsula plus the remote island of Jan Mayen and the archipelago of Svalbard.

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OECD

The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.

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OPEC

The Organization of the Petroleum Exporting Countries (OPEC,, or OPEP in several other languages) is an intergovernmental organization of nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.

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Paul Krugman

Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.

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Peruzzi

The Peruzzi were bankers of Florence, among the leading families of the city in the 14th century, before the rise to prominence of the Medici.

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Public expenditure

Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision, infrastructure, etc.

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Public finance

Public finance is the study of the role of the government in the economy.

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Real gross domestic product

Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).

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Ricardian equivalence

The Ricardian equivalence proposition (also known as the Ricardo–de Viti–Barro equivalence theorem) is an economic hypothesis holding that consumers are forward looking and so internalize the government's budget constraint when making their consumption decisions.

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Russia

Russia (rɐˈsʲijə), officially the Russian Federation (p), is a country in Eurasia. At, Russia is the largest country in the world by area, covering more than one-eighth of the Earth's inhabited land area, and the ninth most populous, with over 144 million people as of December 2017, excluding Crimea. About 77% of the population live in the western, European part of the country. Russia's capital Moscow is one of the largest cities in the world; other major cities include Saint Petersburg, Novosibirsk, Yekaterinburg and Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a wide range of environments and landforms. From northwest to southeast, Russia shares land borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both with Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. It shares maritime borders with Japan by the Sea of Okhotsk and the U.S. state of Alaska across the Bering Strait. The East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, the medieval state of Rus arose in the 9th century. In 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus' ultimately disintegrated into a number of smaller states; most of the Rus' lands were overrun by the Mongol invasion and became tributaries of the nomadic Golden Horde in the 13th century. The Grand Duchy of Moscow gradually reunified the surrounding Russian principalities, achieved independence from the Golden Horde. By the 18th century, the nation had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, which was the third largest empire in history, stretching from Poland on the west to Alaska on the east. Following the Russian Revolution, the Russian Soviet Federative Socialist Republic became the largest and leading constituent of the Union of Soviet Socialist Republics, the world's first constitutionally socialist state. The Soviet Union played a decisive role in the Allied victory in World War II, and emerged as a recognized superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the world's second largest economy, largest standing military in the world and the largest stockpile of weapons of mass destruction. Following the dissolution of the Soviet Union in 1991, twelve independent republics emerged from the USSR: Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and the Baltic states regained independence: Estonia, Latvia, Lithuania; the Russian SFSR reconstituted itself as the Russian Federation and is recognized as the continuing legal personality and a successor of the Soviet Union. It is governed as a federal semi-presidential republic. The Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russia's extensive mineral and energy resources are the largest such reserves in the world, making it one of the leading producers of oil and natural gas globally. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction. Russia is a great power as well as a regional power and has been characterised as a potential superpower. It is a permanent member of the United Nations Security Council and an active global partner of ASEAN, as well as a member of the G20, the Shanghai Cooperation Organisation (SCO), the Council of Europe, the Asia-Pacific Economic Cooperation (APEC), the Organization for Security and Co-operation in Europe (OSCE), and the World Trade Organization (WTO), as well as being the leading member of the Commonwealth of Independent States (CIS), the Collective Security Treaty Organization (CSTO) and one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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Sectoral analysis

Sectoral analysis, also known as sectorial analysis, is a statistical analysis of the size, demographic, pricing, competitive, and other economic dimensions of a sector of the economy.

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Sectoral balances

The sectoral balances (also called sectoral financial balances) are a sectoral analysis framework for macroeconomic analysis of national economies developed by British economist Wynne Godley.

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Social security

Social security is "any government system that provides monetary assistance to people with an inadequate or no income." Social security is enshrined in Article 22 of the Universal Declaration of Human Rights, which states: Everyone, as a member of society, has the right to social security and is entitled to realization, through national effort and international co-operation and in accordance with the organization and resources of each State, of the economic, social and cultural rights indispensable for his dignity and the free development of his personality.

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Starve the beast

"Starving the beast" is a political strategy used by budget hawks to limit government spending by cutting taxes, in order to reduce the federal government’s revenue in an effort to reduce public spending.

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Stock and flow

Economics, business, accounting, and related fields often distinguish between quantities that are stocks and those that are flows.

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Tax

A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.

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Tax deduction

Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income.

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Taxation in the United States

The United States of America has separate federal, state, and local government(s) with taxes imposed at each of these levels.

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Transfer payment

In economics, a transfer payment (or government transfer or simply transfer) is a redistribution of income and wealth (payment) made without goods or services being received in return.

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Unemployment

Unemployment is the situation of actively looking for employment but not being currently employed.

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Unemployment benefits

Unemployment benefits (depending on the jurisdiction also called unemployment insurance or unemployment compensation) are payments made by the state or other authorized bodies to unemployed people.

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United States federal budget

The United States federal budget comprises the spending and revenues of the U.S. federal government.

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United States Treasury security

A United States Treasury security is an IOU from the US Government.

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William Vickrey

William Spencer Vickrey (21 June 1914 – 11 October 1996) was a Canadian-born professor of economics and Nobel Laureate.

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Wynne Godley

Wynne Godley (2 September 192613 May 2010) was an economist famous for his pessimism toward the British economy and his criticism of the British government.

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References

[1] https://en.wikipedia.org/wiki/Government_budget_balance

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