By the end of this year, the budget deficit
is programmed to hit P523.6 billion, Diokno said.
The budget deficit
will shrink to $736.0 billion in fiscal 2013, or 4.3 percent of GDP, a projection that will fulfill an agreement reached in June by the Group of 20 leaders that advanced economies should try to at least halve deficits by 2013.
A painful period of world economic adjustment appears inevitable without firm and immediate action on the budget deficit
, and it will have serious implications for America's power in the world.
"International Evidence on the Sustainability of Budget Deficits
," Applied Economics Letters, 4, 12, 1997, pp.
federal budget deficit
N.I.P.A.) in year t, expressed in billions of 1982 dollars;
But it's a mistake to confuse improved coverage of business affairs with intelligent coverage of national economic issues, like inflation or the budget deficit
Federal spending at its present level cannot continue without bringing it in balance with receipts if we are to address the budget deficit
. Gramm-Rudman-Hollings is addressing this issue, but swifter remedial action is required.
The above also means premature efforts to reduce budget deficits
when the economy is in a balance sheet recession are extremely dangerous, as U.S.
where: y = interest rates; x = budget deficits
; z = GDP deflators; m = money supply; and L is the lag operator.
The large structural federal budget deficits
that have emerged in recent decades seem to persist despite considerable efforts to reduce them.
Many people moan about budget deficits
, trade deficits, etc., but those are really symptoms of a much more powerful change taking place in the capital accounts across the world.
True, maybe it's all a matter of time before calamity strikes (and moreover nothing here is meant to suggest that huge budget deficits
in particular are wonderful).