Budget Deficits

Some articles on budget, deficit, budget deficits, budget deficit:

Chartalism - Vertical Transactions
... In any given time period, the government’s budget can be either in deficit or in surplus ... A deficit occurs when the government spends more than it taxes and a surplus occurs when a government taxes more than it spends ... MMT states that as a matter of accounting, it follows that government budget deficits add net financial assets to the private sector ...
Late-2000s Recession - Effects - Effects On Europe
... Many European countries embarked on austerity programs, reducing their budget deficits relative to GDP from 2010 to 2011 ... For example, according to the CIA World Factbook Greece improved its budget deficit from 10.4% GDP in 2010 to 9.6% in 2011 ... Iceland, Italy, Ireland, Portugal, France, and Spain also improved their budget deficits from 2010 to 2011 relative to GDP ...

Famous quotes containing the words deficits and/or budget:

    Don’t forget what I discovered—that over ninety percent of all national deficits from 1921 to 1939 were caused by payments for past, present, and future wars.
    Franklin D. Roosevelt (1882–1945)

    The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.
    William Howard Taft (1857–1930)