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No tricks here..decrease expenditures and/or increase revenues.
Decrease expenses generally means substantially cutting services/benefits/activities of the Gov't, (OK perhaps increasing efficiency, but that generally is a very small savings proportionately) or increase revenues which means increase taxes, (and that can actually work to reduce the economy overall).
With out any question the very best answer is to cut or eliminate any of the benefits you receive that I don't and increase your taxes, not mine.
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The simple answer is to do what politicians won't do. It's to cut benefits and increase tax. How many politicians advertise this during their campaigns? The only way to be fair to everybody is to cut benefits that everybody is using so that no one group bears more of the burden and increase tax equally to everybody. Of course, life is not fair and this won't happen.
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∙ 14y ago
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How did the US in many European countries initially respond to decrease in tax revenue caused by Great Depression?
Cutting government spending to avoid going into debt.
What government owns the largest portion of the US national debt?
US
How can federal government affect fiscal policy?
Generally speaking the fiscal policies of the US Federal government are related to the monetary policies of the US Federal Reserve System. With that said, US fiscal policies of the Federal government can affect the economic situation of the US. The Federal government can do the following to influence the US economy, all of which are meant to improve the economy, however, that may not be the intended result. Here are some but not all examples of how the economy of the US can be affected by the Federal government:* Increase or decrease income taxes on personal and corporate income;* Increase or decrease gasoline taxes;* Increase or decrease tariffs;* Increase or decrease capital gains taxes ( part of income taxation );* Increase or decrease social security payments;* increase or decrease certain Medicare prices (costs )* increase or decrease Federal employment policies;* increase or decrease social spending in terms of food stamps as an example; and* Increase or maintain current levels of the national debt ceiling.
What is a debt ceiling?
Debt ceiling is the limit on how much money the US Federal government can owe.
When before 1998 did the us government have a surplus?
well you see, we have actually never been in debt. the us government has always has a surplus, the myth of a debt and deficit is to increase spending because the government is just greedy.
What is the US federal government's current debt?
The current debt of the federal government of the United States of America is over 14 trillion dollars. See related link for a debt clock.
What are the average rates for a debt service in the US?
The average rates for a debt service in the US is 25% of GDP but previously it was 8.7%. The us government is now trying to repay their old debt by borrowing more.
Can the US government limit the national debt?
It can, by rational budget spending
Who is responsible for the US debt?
The U.S. government since the country was founded.
Why is corporate long-term debt riskier than US government long-term debt?
A significant part of the equation to evaluate risk of long-term debt is the reliability of the organization issuing that debt and the likelihood of paying back that debt. In most cases, investing in the US Government is a lower risk than investing in a corporation.
What is Mexico's debt level?
Government debt can be subdivided into two categories: external debt and domestic debt. External debt is the outstanding debt owed from the Mexican government to foreign governments (such as the United States or Europe), banks, institutions and individuals. Domestic debt is the amount of debt owed to Mexican banks, institutions and individuals within the country.Mexico's government debt can be broken down as follows:External debt: US$46,208.8 million.Domestic debt: US$192,218.7 million.Total Mexican debt: US$238,427.6 million.Now, the indebtedness level is the percentage of debt compared as a percentage of the total sum of products and services sold in the country within a year (also named Gross Domestic Product - GDP). Mexico's Gross Domestic Product is valued at US$788,840 million (est. 2009).Therefore Mexico's debt level is:5.9% of its GDP in foreign debt.24.4% of its GDP in domestic debt.30.3% of its GDP for total public debt.
How can the Federal government affect the fiscal policy?
Generally speaking the fiscal policies of the US Federal government are related to the monetary policies of the US Federal Reserve System. With that said, US fiscal policies of the Federal government can affect the economic situation of the US. The Federal government can do the following to influence the US economy, all of which are meant to improve the economy, however, that may not be the intended result. Here are some but not all examples of how the economy of the US can be affected by the Federal government:* Increase or decrease income taxes on personal and corporate income;* Increase or decrease gasoline taxes;* Increase or decrease tariffs;* Increase or decrease capital gains taxes ( part of income taxation );* Increase or decrease social security payments;* increase or decrease certain Medicare prices (costs )* increase or decrease Federal employment policies;* increase or decrease social spending in terms of food stamps as an example; and* Increase or maintain current levels of the national debt ceiling.
