fiscal policy

Examples of fiscal policy in the following topics:

• 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.
  • Expansionary fiscal policy, which involves government spending exceeding tax revenue, and is usually undertaken during recessions.
  • 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.
  • Expansionary fiscal policy involves government spending exceeding tax revenue, and is usually undertaken during recessions.
  • Contractionary fiscal policy occurs when government spending is lower than tax revenue, and is usually undertaken to pay down government debt.
  • Review the United States' stances of fiscal policy, methods of funding, and policies regarding borrowing

• 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

• Monetary Policy

  • Monetary policy differs from fiscal policy.
  • Fiscal policy refers to taxation, government spending, and associated borrowing.
  • Policies are called "tight" if they are intended to reduce inflation.
  • Since the 1970's, monetary policy has generally been formed separately from fiscal policy.
  • The primary tool of monetary policy is open market operations.

• China

  • The political, economic, and military rise of China, with its enormous population of more than 1.3 billion people, is a key foreign policy challenge for the United States.
  • Among foreign nations, China holds the largest amount of U.S. public debt and has been a vocal critic of U.S. deficits and fiscal policy.
  • The Chinese government's policy toward human rights is another source of controversy.
  • International human rights organizations have identified a number of potential violations in China, including the use of capital punishment, the application of the one child policy, the denial of independence to Tibet, the absence of a free press, the absence of an independent judiciary with due process, the absence of labor rights, and the absence of religious freedom.

• Monetary Policy

  • Monetary policy is the process by which the monetary authority of a country controls the supply of money.
  • Monetary theory provides insight into how to craft optimal monetary policy.
  • It is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it.
  • Monetary policy differs from fiscal policy, which refers to taxation, government spending, and associated borrowing.
  • The primary tool of monetary policy is open market operations.

• The Goals of Economic Policy

  • Economic policy refers to the actions that governments take in the economic field.
  • These typically used fiscal and monetary policy to adjust inflation, output and unemployment.
  • This makes policy non-credible and ultimately ineffective.
  • Another type of non-discretionary policy is a set of policies which are imposed by an international body.
  • One of the major goals of economic policy is to promote economic growth.

• Conservatism

  • Liberal conservatism is a variant of conservatism that combines conservative values and policies with classical liberal stances.
  • Libertarian conservatives generally support strict laissez-faire policies such as free trade and oppose any national bank, regulations on businesses, environmental regulation, corporate subsidies, and other areas of economic intervention.
  • Fiscal conservatism is the economic philosophy of prudence in government spending and debt.
  • As such, national conservatives can be distinguished from economic conservatives, for whom free market economic policies, deregulation, and fiscal conservatism are the main priorities.

• 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.

• The Cost of Maintaining the Government

  • In addition, the OMB oversees and coordinates the Administration's procurement, financial management, information and regulatory policies.
  • CBO computes a current law baseline budget projection that is intended to estimate what federal spending and revenues would be in the absence of new legislation for the current fiscal year and for the coming 10 fiscal years.
  • However, the CBO also computes a current-policy baseline, which makes assumptions about, for instance, votes on tax cut sunset provisions.
  • In recent years, Congress has not passed all of the appropriations bills before the start of the fiscal year.
  • In addition, policy language, that is, legislative text changing permanent law, is included in appropriation measures.