Seminar in Macroeconomic Theory - Assignment Example

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Referring to United States federal budget, any attempt to produce a balanced budget should look beyond literal compliance with an inadequate numerical test. The strategies…
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Seminar in Macroeconomic Theory
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Download file to see previous pages Fund raised will be used to cover the allocation the health sector that is a principal consumer of the federal budgetary provisions.
Another strategy will involve the Congress amending the constitution to include a provision requiring the federal government to prepare a balanced budget. While trying to promote a more balanced budget through constitutional amendments, it is critical note that poorly crafted changes can trigger instances of economic instability. Any draft amendment should have an element of limited flexibility catering for emergency situations like a recession.
As a measure, the federal government ought to encourage the establishment and registration of businesses in the USA. This will put the USA federal government in a better position to grows revenue to support its ever increasing expenditure. Homegrown companies should be encouraged to base their manufacturing firm within the states instead of operating their factories oversee. This will reduce the level of economic unemployment and the government will in turn reap in the form of more taxes. The federal government has an obligation of controlling to control its borrowing. Borrowing increases the government obligation in the form of the interest payable on these loans.
The defense department and the intelligence department have been conveniently decreased measure to reduce the cost incurred in many operations conducted by these departments. The wars in Middle East and international missions are the cause of the high expenditures here; these can be reduced to manageable levels.
Additionally there is a proposition that allows the government to repay the debt in an effort to reduce amounts paid periodically as interests on these loans. Observing the total amount payable towards settling the entire National Debt, it is evident that the accumulative interest is very high, and it siphons the nation’s resources and contributing to the greater budget deficit. Therefore, proposed that the ...Download file to see next pagesRead More
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