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Mandatory spending includes federal government spending on entitlement programs as well as other budget outlays controlled by laws other than appropriation acts. Entitlement programs such as Social Security and Medicare make up the bulk of mandatory spending. This report looks at mandatory spending and how it has grown over time relative to total federal spending and the size of the U.S. economy. It also analyzes future mandatory spending levels and how they are projected to impact the federal budget.
Mandatory spending includes federal government spending on entitlement programs as well as other budget outlays controlled by laws other than appropriation acts. Entitlement programs such as Social Security and Medicare make up the bulk of mandatory spending. This report looks at mandatory spending and how it has grown over time relative to total federal spending and the size of the U.S. economy. It also analyzes future mandatory spending levels and how they are projected to impact the federal budget.
The former President of the United States, Bill Clinton and, at the time of publication, still current Prime Minister of the United Kingdom, Tony Blair have described their style of government as a ‘Third Way’. In this important and timely book, Flavio Romano identifies and clarifies the economic implications of this particular approach to public governance. Testing the validity of President Clinton’s and Prime Minister Blair’s claims of practising a Third Way Romano submits their economic policies to extensive theoretical and historical analysis. Through careful and detailed examination of their fiscal, monetary, education, employment and public and private investment policies, overwhelming evidence is presented to challenge these leaders’ claim of practising what they preach. This engaging book will be of great interest to students and practitioners of economics and politics and to those interested in world politics in general.
Reports on the state of the Federal budget and the United States economy. Each January, the Congressional Budget (CBO) prepares "baseline" Federal budget projections and the outlook for the United States economy spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured. Therefore, as specified in law, those projections generally incorporate the assumption that current laws are implemented. But substantial changes to tax and spending policies are slated to take effect in calendar year 2013 under current law. So CBO has also prepared projections under an "alternative fiscal scenario," in which some current or recent policies are assumed to continue in effect, even though, by law, they are scheduled to change. The decisions made by lawmakers as they confront those policy choices will have a significant impact on budget outcomes in the coming years.