Fiscal policy is used to influence the “macroeconomic” variables—inflation, consumer prices, economic growth, national income,gross domestic product(GDP), and unemployment. In the United States, the importance of these uses of government revenues and spending developed in response to theGreat Depres...
For better or worse, the Federal Reserve System is so ingrained in our economy that its policies have a huge impact on the financial well being of millions of citizens. If the Fed, for example, sees the need to spur consumer spending, it can cut interest rates. The Fed is the group th...
The truth is, there is no animal named “Washington” that eats money. Most of what Washington does (in dollar terms) is write checks to people, so reducing a dollar of Washington’s spending generally takes a dollar, or close to a dollar, out of someone’s pocket. And the Republicans ...
“It is entirely possible for NIST’s usual work to be underfunded or in danger,” Carney said. “At the same time, we could have the CHIPS Act pouring huge amounts of money into new NIST programs supporting the semiconductor industry. NIST is responsible for a lot of very important work...
The policy is undeniably appealing for tipped workers and the unions that represent them. After all, who doesn’t want a tax break when they can get it? Experts say the message to voters may be effective, but the policy is less likely to be. ...
In a 2014 survey, the Washington Post found that over half of the veterans surveyed had not used the benefits outlined in the Post-9/11 GI Bill, and that is just one of the many benefits out there for service members and vets. The financial benefits of being in the military include ...
The Treasury Secretary serves as head of the U.S. Department of the Treasury. The position was created in 1789 and was first held by Alexander Hamilton under President George Washington. The Secretary of the Treasury is part of the President’s cabinet and is fifth in the line of succession...
Economic PolicyCELASUN O., GASTON GELOS R. and PRATI A., 2004, Obstacles to disinflation: what is the role of fiscal expectations?, Economic Policy, vol. 40, p. 443-484.CELASUM, O., GELOS, G. R., AND PRATTI, A. (2004). "Obstacles to disin- flation: What is the role of ...
Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the ...
What happens if the country is forced over the "fiscal cliff" on January 1? Various federal tax cuts and breaks enacted under President George W. Bush expire as well as the payroll tax holiday enacted under President Obama. About $1.2 trillion in federal spending cuts begin to kick in (app...