Public Finance

From dKosopedia

Category: Taxation and Finance

Public Finance involves balancing Taxes, Government Spending and the Deficit. It is a central issue for those who study the Economy.

Most State Governments are required to have a balanced budget. The United States government is not required to balance its budget, and the budget surpluses created under Bill Clinton's Administration have vanished under the administration of George W. Bush. The Bush Budget record shows fiscal irresponsibility that alarms even Republicans. See dKosopedia:Projects:Analysis:The Record of George W Bush:Budget.

The most recent budget adopted by Congress is the Consolidated Appropriations Act for 2005, it tightens spending to some degree, but cannot overcome the fiscal crisis created by tax cuts in the most recent Bush administration and additional spending on the Iraq War.