Difference between revisions of "Balanced budget"

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A '''balanced [[budget]]''' is a budget in which receipts equal [or exceed] outlays. Fiscal conservatives, such as [[George H. W. Bush]] favour balanced budgets, whilst more liberal polticians do not.<ref>[http://www.senate.gov/reference/glossary_term/balanced_budget.htm] US Senate Reference</ref>
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A '''balanced budget''' is a [[budget]] in which receipts equal (or exceed) outlays. Fiscal conservatives, such as [[George H. W. Bush]] favor balanced budgets, while more liberal polticians do not.<ref>[http://www.senate.gov/reference/glossary_term/balanced_budget.htm] US Senate Reference</ref> In the [[United States]], state and local governments are required to have a balanced budget, but the [[Federal Government]] has no such requirement and may incur a [[budget deficit]].
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There are conservatives, such as [[Bruce Bartlett]] (a former domestic policy adviser to [[President Reagan]]), who oppose a Federal balanced budget. Bartlett argues that a balanced budget amendment would be nearly impossible to enforce and that forcing a balanced budget in times of economic downturns would worsen the economy.<ref>Bartlett, Bruce. "Balanced Budget Amendment a 'Phony' Deficit Solution." The Fiscal Times, 27 August, 2010. [http://www.thefiscaltimes.com/Columns/2010/08/27/Balanced-Budget-Amendment-a-Bad-Approach.aspx#page1]</ref>
  
 
==References==
 
==References==

Revision as of 21:55, 6 August 2011

A balanced budget is a budget in which receipts equal (or exceed) outlays. Fiscal conservatives, such as George H. W. Bush favor balanced budgets, while more liberal polticians do not.[1] In the United States, state and local governments are required to have a balanced budget, but the Federal Government has no such requirement and may incur a budget deficit.

There are conservatives, such as Bruce Bartlett (a former domestic policy adviser to President Reagan), who oppose a Federal balanced budget. Bartlett argues that a balanced budget amendment would be nearly impossible to enforce and that forcing a balanced budget in times of economic downturns would worsen the economy.[2]

References

  1. [1] US Senate Reference
  2. Bartlett, Bruce. "Balanced Budget Amendment a 'Phony' Deficit Solution." The Fiscal Times, 27 August, 2010. [2]