Gao-06-276 Mandatory Spending

Gao-06-276 Mandatory Spending

Author: United States Government Accountability Office

Publisher: Createspace Independent Publishing Platform

Published: 2018-02

Total Pages: 108

ISBN-13: 9781984941183

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GAO-06-276 Mandatory Spending: Using Budget Triggers to Constrain Growth


A Glossary of Terms Used in the Federal Budget Process

A Glossary of Terms Used in the Federal Budget Process

Author:

Publisher: DIANE Publishing

Published: 1993-12

Total Pages: 145

ISBN-13: 0788101013

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A basic reference document for persons interested in the federal budget-making process. Emphasizes budget terms in addition to relevant economic and accounting terms to help the user appreciate the dynamics of the budget process. Also distinguishes between any differences in budgetary and non-budgetary meanings of terms. Over 300 terms defined. Index. Appendices: overview of the federal budget process, budget functional classification, and more.


Can the Debt Growth Be Stopped?

Can the Debt Growth Be Stopped?

Author: John Merrifield

Publisher: Lexington Books

Published: 2016-03-01

Total Pages: 209

ISBN-13: 1498518109

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This book explores new fiscal rules introduced in OECD countries and the relevance of fiscal rules for the unique fiscal policies and institutions in the United States. The rules in different countries are compared, with a more in depth analysis of two countries with arguably the most successful fiscal rules—Switzerland and Sweden. The study compares the challenge of fiscal consolidation facing the U.S. with that in other OECD countries. The centerpiece of the study is analysis of fiscal rules using a dynamic simulation model. A Swiss style fiscal rule is compared to an alternative fiscal rule proposed by Representative Amash, H.J.Res 24.The authors propose a new fiscal rule designed for the unique fiscal institutions in the U.S. Dynamic scoring is used to measure the impact of different fiscal rules on the federal budget, economic growth, and revenue. The effectiveness of the different fiscal rules is analyzed with respect to several criteria. A major objective of the rules is fiscal stabilization in the long run to bring debt/GDP ratios below tolerance levels. The fiscal rules are also designed for budget stabilization in the medium term, such that deficits in periods of recession are offset by surplus revenue in periods of economic expansion. The concluding section of the study explores the political economy of enacting new fiscal rules in the U.S. The study proposes fundamental changes in budget process required for the proposed fiscal rule to be effective. The study concludes with a discussion of alternative routes to enacting new fiscal rules, and the prospects for new fiscal rules to be enacted in the U.S.


Exceptions to the Rule

Exceptions to the Rule

Author: Molly E. Reynolds

Publisher: Brookings Institution Press

Published: 2017-07-18

Total Pages: 290

ISBN-13: 0815729979

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Special rules enable the Senate to act despite the filibuster. Sometimes. Most people believe that, in today's partisan environment, the filibuster prevents the Senate from acting on all but the least controversial matters. But this is not exactly correct. In fact, the Senate since the 1970s has created a series of special rules—described by Molly Reynolds as “majoritarian exceptions”—that limit debate on a wide range of measures on the Senate floor. The details of these exemptions might sound arcane and technical, but in practice they have enabled the Senate to act even when it otherwise seemed paralyzed. Important examples include procedures used to pass the annual congressional budget resolution, enact budget reconciliation bills, review proposals to close military bases, attempt to prevent arms sales, ratify trade agreements, and reconsider regulations promulgated by the executive branch. Reynolds argues that these procedures represent a key instrument of majority party power in the Senate. They allow the majority—even if it does not have the sixty votes needed to block a filibuster—to produce policies that will improve its future electoral prospects, and thus increase the chances it remains the majority party. As a case study, Exceptions to the Rule examines the Senate's role in the budget reconciliation process, in which particular congressional committees are charged with developing procedurally protected proposals to alter certain federal programs in their jurisdictions. Created as a way of helping Congress work through tricky budget issues, the reconciliation process has become a powerful tool for the majority party to bypass the minority and adopt policy changes in hopes that it will benefit in the next election cycle.


Pension Fund Risk Management

Pension Fund Risk Management

Author: Marco Micocci

Publisher: CRC Press

Published: 2010-01-25

Total Pages: 766

ISBN-13: 1439817545

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As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integr


The Federal Budget

The Federal Budget

Author: Allen Schick

Publisher: Brookings Institution Press

Published: 2008-05-31

Total Pages: 362

ISBN-13: 0815777329

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The federal budget impacts American policies both at home and abroad, and recent concern over the exploding budgetary deficit has experts calling our nation's policies "unsustainable" and "system-dooming." As the deficit continues to grow, will America be fully able to fund its priorities, such as an effective military and looking after its aging population? In this third edition of his classic book The Federal Budget, Allen Schick examines how surpluses projected during the final years of the Clinton presidency turned into oversized deficits under George W. Bush. In his detailed analysis of the politics and practices surrounding the federal budget, Schick addresses issues such as the collapse of the congressional budgetary process and the threat posed by the termination of discretionary spending caps. This edition updates and expands his assessment of the long-term budgetary outlook, and it concludes with a look at how the nation's deficit will affect America now and in the future. "A clear explanation of the federal budget... [Allen Schick] has captured the politics of federal budgeting from the original lofty goals to the stark realities of today."—Pete V. Domenici, U.S. Senate