Economic Survey: United States 2004: Ensuring fiscal sustainability and budgetary discipline I.<Tab/>SUMMARY: The federal budget has moved from a surplus of nearly 1½ per cent of GDP in fiscal year 2001 to a deficit of 3½ per cent in 2003 and a projected 4¼ to 4½ percent in 2004. This rapid decline is attributable to sharply reduced tax receipts following the recession and the demise …
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showed last 75 words of 885 total
…economy is recovering. A strong Fiscal Policy can often work against inflation or unemployment that results from too much or too little spending in the economy. Reference: Bush, George (2001) The White House. President Calls on Senate to Bring Economic Package to Vote. Article retrieved on January 25, 2005. http://www.whitehouse.gov/news/releases/2001/12/20011215.html OECD (2004) Economic Survey: United States 2004: Ensuring fiscal sustainability and budgetary discipline. Article retrieved on January 25, 2005. http://www.oecd.org/document/11/0,2340,en_2649_34595_31458443_1_1_1_1,00.html