Download Free Budget Surpluses Experiences Of Other Nations And Implications For The United States Book in PDF and EPUB Free Download. You can read online Budget Surpluses Experiences Of Other Nations And Implications For The United States and write the review.

Reviews the experience of 6 nations with budget surpluses (BS) in 1999 -- Australia, Canada, New Zealand, Norway, Sweden, and the U.K. Determines how these nations achieved BS, used BS to address long-term budgetary pressures, and adapted their budget processes once BS were achieved. Like the U.S., these nations achieved BS largely as the result of improving economies and sustained deficit reduction efforts. As they entered a period of BS, these nations debated how BS should be used and developed unique strategies for using BS to address national priorities. This experiences suggest that it is possible to sustain support for continued fiscal discipline during a period of BS while also addressing selected pent-up demands.
For four years, the United States has had a budget surplus that has resulted in decreasing debt levels. Debt held by the public fell approximately $453 billion from the end of fiscal year 1997 to the end of fiscal year 2001. Although it appears now that the economy and the challenges of combating terrorism will prompt deficits for the short term, we may again return to surpluses. A number of other nations experienced a cycle of budget deficit and surplus before the United States. GAO examined the experiences of some of these nations looking for insights and lessons learned for the United States. Particular attention was paid to the various techniques used, including the use of "debt buybacks." Five nations were selected--Australia, New Zealand, Norway, Sweden, and the United Kingdom-whose recent approaches and experiences with debt management in times of surplus might have relevance to or provide useful information for the United States. To obtain information on the experiences of these other nations in managing sovereign debt, we interviewed government officials, capital market participants, academics, and others to discuss fiscal and debt management goals, the relationship between budget changes and debt policies and actions, and the nature of the capital markets in these nations.
Contents: (1) National Security (NS) and the Congressional Interest; 21st Century Challenges to NS; (2) The Role of the Economy in U.S. NS; Macroecon. and Microecon. Issues in NS; (3) Economic Growth and Broad Conceptions of NS: Human Capital; Research, Innovation, Energy, and Space; (4) Globalization, Trade, Finance, and the G-20; Instability in the Global Economy; Savings and Exports; Boosting Domestic Demand Abroad; Open Foreign Markets to U.S. Products and Services; Build Cooperation with International Partners; Deterring Threats to the International Financial System; (5) Democracy, Human Rights, and Development Aid; Sustainable Development. Charts and tables. This is a print on demand publication.
This analysis of budgetary systems and policies across the world examines how politics, culture, and economics influence public finance.