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As a percentage of the GDP, within the context of the national economy as a whole, the highest deficit was run during fiscal year 1946 at nearly 30% of GDP, but that rebounded to a surplus by 1947. By contrast, deficits during the 1980s reached 5–6% of GDP and the deficit for 2005 was 2.6% of GDP, close to the post-World War II average.
A statement on the government's website said the State Council had approved a plan to invest 4 trillion yuan in infrastructure and social welfare by the end of 2010. [5] [6] This stimulus, equivalent to US$586 billion, represented a pledge comparable to that subsequently announced by the United States, but which came from an economy only one third the size. [7]
The 2014 United States federal budget was not submitted by the President until April 10, 2013 due to negotiations over the United States fiscal cliff and implementation of the sequester cuts mandated by the Budget Control Act of 2011 [7] (the House had already prepared its budget proposal on March 21, and the Senate proposed a budget on March 23).
It seems like only yesterday that the fiscal cliff was a distant worry, a muffled rumble of thunder over the horizon. Yet as other stories have occupied the headlines, the cliff has drawn ever nearer.
The United States Federal Budget for Fiscal Year 2002, was a spending request by President George W. Bush to fund government operations for October 2001-September 2002. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2002, which must be authorized by Congress.
They also developed a well-maintained system of roads and colonies which led to one of the first real tax systems. Their system was tbased on two types of taxes: tributa and vectigalia. The former included the land tax and a poll tax, while the latter was made up of another poll tax, an inheritance tax, a sales tax, and a postage tax. Other ...
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
An Act to revise, codify, and enact without substantive change certain general and permanent laws, related to money and finance, as title 31, United States Code, "Money and Finance". Nicknames: Money and Finance Enactment as title 31, United States Code: Enacted by: the 97th United States Congress: Effective: September 13, 1982: Citations ...