Fiscal conservatism

(noun)

the economic philosophy of prudence in government spending and debt

Related Terms

Examples of Fiscal conservatism in the following topics:

  • Conservatism

    • Liberal conservatism is a variant of conservatism that combines conservative values and policies with classical liberal stances.
    • Fiscal conservatism is the economic philosophy of prudence in government spending and debt.
    • National conservatism concentrates more on national interests than standard conservatism, and it upholds cultural and ethnic identity.
    • As such, national conservatives can be distinguished from economic conservatives, for whom free market economic policies, deregulation, and fiscal conservatism are the main priorities.
    • Social conservatism is distinct from cultural conservatism, although there are some overlaps.

  • The Modern Era of Political Parties

    • Today, the Republican Party supports an American conservative platform, with foundations in economic liberalism, fiscal conservatism, and social conservatism.

  • The Republican Party

    • The Republican Party is a major political party in the U.S, along with the Democratic Party; its platform reflects American conservatism.
    • Currently the party's platform generally reflects American conservatism in the U.S. political spectrum.
    • American conservatism of the Republican Party is not wholly based upon rejection of the political ideology of liberalism, as many principles of American conservatism are based upon classical liberalism.
    • Rather the Republican Party's conservatism is largely based upon its support of classical principles against the modern liberalism of the Democratic Party that is considered American liberalism in contemporary American political discourse.
    • The Republican Party includes fiscal conservatives, social conservatives, neoconservatives, moderates, and libertarians.

  • Fiscal Policy and Policy Making

    • Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.
    • The two main instruments of fiscal policy are government taxation and expenditure.
    • Neutral fiscal policy, usually undertaken when an economy is in equilibrium.
    • Borrowing: A fiscal deficit is often funded by issuing bonds, like treasury bills or consols and gilt-edged securities.
    • Comparison of National Spending Per Citizen for the 20 Largest Economies is an example of various fiscal policies.

  • Fiscal Policy

    • Fiscal policy is the use of government revenue collection or taxation, and expenditure (spending) to influence the economy.
    • Neutral fiscal policy is usually undertaken when an economy is in equilibrium.
    • A fiscal deficit is often funded by issuing bonds.
    • However, economists debate the effectiveness of fiscal stimulus.
    • Review the United States' stances of fiscal policy, methods of funding, and policies regarding borrowing

  • Budget Resolutions

    • The budget resolution must cover the time span of a minimum of five fiscal years, which includes the upcoming fiscal year plus the four following fiscal years.
    • Even though the budget resolution covers at least five fiscal years, the House and Senate Committees on Appropriations receive allocations only for the upcoming fiscal year because appropriations measures are annual.
    • However, Congress has frequently not met this target date since the fiscal year 1977.
    • The Congressional Budget Act also prohibits House and Senate floor consideration of appropriations measures for the upcoming fiscal year before the budget resolution is completed.

  • Political Ideology

    • American conservatism commonly refers to a combination of economic liberalism and social conservatism and to an extent, libertarianism.
    • Liberalism and conservatism are the most common ideologies in the U.S., apart from those who identify as moderate.
    • Moderates, who may be left or right leaning, incorporate different aspects from liberalism and conservatism into their personal perspective.

  • From Political Values to Ideology

    • Core American political values general fall in line with one of three political ideologies: liberalism, conservatism, or moderate.
    • Contrastingly, people who value tradition and the status quo will relate more to conservatism.
    • Moderates hold an ideology somewhere in between liberalism and conservatism.

  • Income Security Policy

    • Fiscal policy is considered to be any change the government makes to the national budget in order to influence a nation's economy.
    • Any changes the government makes to the national budget in order to influence a nation's economy is considered fiscal policy.
    • Because of the prolonged recovery of the United States economy and the major changes that the Great Depression forced the government to make, the creation of fiscal policy is often referred to as one of the defining moments in the history of the United States.
    • This phenomenon set the standard and showed just how necessary it was for the government to play an active role in fiscal policy.
    • Analyze the transformation of American fiscal policy in the years of the Great Depression and World War II

  • Ideological Third Parties and Splinter Parties

    • The Libertarian Party supports laissez-faire policies, small government, and is characterized by being socially liberal and fiscally conservative.
    • The Constitution Party is a socially and fiscally conservative party backed by the religious right.
    • The AFP is characterized as paleoconservative because they are socially and fiscally conservative.