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| Author: | Horn, G. Scheremet, W. |
| Title: | Successful consolidation of the American budget - an example for Europe? |
| Journal: | Economic Bulletin
1999 : APR, VOL. 36:4, p. 11-16 |
| Index terms: | USA EUROPE SUCCESS |
| Language: | eng |
| Abstract: | In 1998 the overall US government budget was balanced for the first time since the late 1970s. The efforts at fiscal consolidation made by US fiscal policy, which have focused largely on the federal budget, have thus been extremely successful in the 1990s. On the other hand, American fiscal policy accepted substantial deficits over a period of many years, and the consolidation of government budgets has been successful only in the wake of the long and robust cyclical upturn. |
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