Journal Article
Reducing the federal deficit: approaches in some other countries
Abstract: The United States is not the first advanced modern economy to face a serious federal budget challenge. A number of countries have seen their debt rise to unacceptable levels in recent decades, and they have taken steps to rein it in. We explore the approaches that Canada and the United Kingdom have used. Though there are important differences in approaches and countries, we draw five useful lessons for the reforms that may be proposed in the U.S. as it addresses its fiscal challenges.
Keywords: Deficit financing; Debts, Public - Canada; Debt-United States; Debts, Public - United Kingdom;
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https://doi.org/10.26509/frbc-ec-201122
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2011
Issue: Oct
Order Number: 22