Fiscal Policy Of The United States

picture info	Fiscal Policy Of The United States Fiscal policy is any changes the government makes to the national budget to influence a nation's economy. "An essential purpose of this Financial Report is to help American citizens understand the current fiscal policy and the importance and magnitude of policy reforms essential to make it sustainable. A sustainable fiscal policy is explained as the debt held by the public to Gross Domestic Product which is either stable or declining over the long term" (Bureau of the fiscal service). The approach to economic policy in the United States was rather laissez-faire until the Great Depression. The government tried to stay away from economic matters as much as possible and hoped that a balanced budget would be maintained. Prior to the Great Depression, the economy did have economic downturns and some were quite severe. However, the economy tended to self-correct so the laissez faire approach to the economy tended to work. President Franklin D. Roosevelt first instituted fiscal policie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Federal Government Revenue By Type Federal or foederal (archaic) may refer to: Politics General Federal monarchy, a federation of monarchies Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or regional governments that are partially self-governing; a union of states Federal republic, a federation which is a republic Federalism, a political philosophy Federalist, a political belief or member of a political grouping Federalization, implementation of federalism Particular governments Federal government of the United States United States federal law United States federal courts Government of Argentina Government of Australia Government of Pakistan Federal government of Brazil Government of Canada Government of India Federal government of Mexico * Federal government of Nigeria Government of Russia Government of South Africa Government of Philippines Other ''The Federalist Papers'', critical early arguments in fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
picture info	Fiscal Year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
picture info	Budget Control Act The Budget Control Act of 2011 () is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011. The Act brought conclusion to the 2011 US debt-ceiling crisis. The law involves the introduction of several complex mechanisms, such as creation of the Congressional Joint Select Committee on Deficit Reduction (sometimes called the "super committee"), options for a balanced budget amendment, and automatic budget sequestration. Provisions Debt ceiling: * The debt ceiling was increased by $400 billion immediately. * The President could request a further increase of $500 billion, which is subject to a congressional motion of disapproval which the President may veto, in which case a two-thirds majority in Congress would be needed to override the veto. This has been called the 'McConnell mechanism' after the Senate Minority Leader Mitch McConnell, who first suggested it as part of another scheme. * The Presi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]