Us Debt and Deficits: Time to Reverse the Trend

被引：1
|
作者：
Barth, James R. [1 ,2 ]
Li, Tong [3 ]
机构：
[1] Milken Inst, Santa Monica, CA 90401 USA
[2] Auburn Univ, Auburn, AL USA
[3] Milken Inst, Econ, Santa Monica, CA USA
来源：
ECONOMIC AFFAIRS | 2012年 / 32卷 / 03期
关键词：
budget deficits; entitlement programmes; federal government; Great Depression; national debt;
D O I：
10.1111/j.1468-0270.2012.02181.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article provides a primer on budget deficits from the creation of the federal government. Today federal government spending is 24% of GDP (compared with its historical average of 8.8%), fuelling debt of historic levels. The only effective way to reduce debt levels is to cut entitlement programmes and then set a tax rate sufficient, over the course of the business cycle, to fund government spending
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收藏
页码：97 / 101
页数：5
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