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Fiscal year 2013: overcoming the budgetary obstacle courses
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Fiscal year 2013: overcoming the budgetary obstacle courses
Annotation
PII
S207054760013614-2-
DOI
10.18254/S207054760013614-2
Publication type
Article
Status
Published
Authors
Vladimir Vasiliev 
ORCID: 0000-0003-3131-9500
Occupation: Chief Scientific Researcher
Affiliation: Institute for the U.S. and Canadian Studies of the Russian Academy of Sciences
Address: Russian Federation, Moscow
Edition
Issue 1
Abstract

The condition and developments in the system of federal finances in FY 2013 are analyzed. The main emphasis is on the budget sequester which started on March 1, 2013. Budget sequester is analyzed as one of the form of fiscal cliff which was used both by Democrats as well as Republicans as a controlled experiment for revealing the political and economic consequences of the fiscal consolidation aimed at legislative cuts in budget deficits. The preliminary results of FY 2013 are analyzed. The main conclusion is that notwithstanding some improvement in the size of budget deficit the USA are not able to radically change the tendency for constant growth of gross Federal debt/ GDP ratio.

Keywords
fiscal policy, budget sequester, FY 2013, scaling back of defense budget, slowing of the economic growth rates
Received
15.11.2013
Date of publication
31.01.2013
Number of purchasers
1
Views
798
Readers community rating
0.0 (0 votes)
Previous versions
S207054760013614-2-1 Дата внесения правок в статью - 11.08.2021
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References

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