American Fiscal Policy in the 1990's
AbstractThis essay analyzes current fiscal policy in the United States within an historical context. The objective is to clarify why recent developments in the United States are troubling, but also to understand why the United States, in contrast to other countries such as Italy, has so far avoided the path to fiscal disaster. The discussion suggests that perhaps the American public understands, at least implicitly, that unless fiscal policy limits the growth of the public debt, the government's credit is sure to run out at some unpredictable future time, as has happened in Italy, with the consequent need for drastic and painful fiscal adjustments.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5109.
Date of creation: May 1995
Date of revision:
Publication status: published as Economic Notes, vol.24, 1995, no.2, pp.231-238.
Note: EFG ME
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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Other versions of this item:
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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