The Sustainability Of The Announced Uk Government Budget Essay

Economically there are many challenges we face as a country with our current fiscal policies. Since the 2008 financial crisis, there have been many debates in regards to how we should go about managing our financial system. Unfortunately, we as team believe that in order for us to stabilize our nation financial issues we are going to have to make restrictions in certain channels, which might affecting our way of life. One area needing attention is government spending and how it has to be reduced, and this would have a ripple effect in certain areas. Our elected officials will have to come to a compromise and determine which sectors are costly and can be reduced.

The budget for the city of San Clemente, California, fiscal year 2011 can be found at the following link:

Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible solutions to reducing the United States' national budget deficit.

Given the critical circumstances the United States economy faces today, the current fiscal policy, in addition to the changes that will be made in the future, is under intense scrutiny. During the Obama administration, which will soon come to an end in about six months, a variety of policies were created in attempts to create employment, raise our GDP, and boost the state of the economy, among other ideas. The fiscal policies created by Congress and the President demonstrate success in some areas, while failing in other areas, as many, including myself, would argue. As the 2016 election quickly approaches, it is important to remember previous fiscal mistakes and successes, and the current economy, in order to better grasp what will be necessary for a successful fiscal policy in the future.

Over the four years from 2009-10 to 2012-2013, Labor had met its fiscal rule of keeping the average spending growth rate to less than 2% a year (Musgrave, R. A. n.d). This was the lowest period of spending growth in 23 years, meaning that not enough money was being injected into the circular flow of income. This reduced aggregate demand as consumer spending was low. In order to ensure that key spending was sustainable, structural improvements were required for the 2014-15 Budget. Overall, the Labor government has left a disastrous legacy of high debt for the Liberal government to try and overcome.

“Ten Trillion and Counting,” presented by Frontline provides quite a picture of America’s national debt as it surpasses the trillion dollar mark. They ponder the financial well being of current and future retirees while also exposing on how America got into this mess, and what the Obama administration plans to do during his term. America is able to close the gap year to year in its national budget by selling bonds and T-bills. Foreigner countries who continually purchase these obligations are beginning to grow. Much like the Bush administration, the Obama administration has started borrowing big with plans to cut the budget years down the road. It is clear for anyone to see that this borrowing and the future promises of cutting cannot go

The 2014‑15 Budget is part of the Government’s Economic Action Approach to repair the budget and build a strong and prosperous economy within the next few years. The substantial savings decisions in this Budget put Australia back on track to a sustainable and responsible budget position. The Government economic objectives are to provide for Australia; full employment, economic growth, external stability and income equality.

Maria comes home one day earlier than usual. Her family, two daughters of age five and eight and a stay-at-home husband, is surprised to see her so early and unexpectedly. The tired look on her face reveals the experience she had at work. She brings out a sluggish smile as her daughters rush up to greet her with their warm embraces, reminding her of the happiness they constantly provide but also saddened by their questionable future. Quietly, she sits down in front of her anxious spouse as he patiently awaits the news, sensing the tension in the air.

Katherine Beckett. 1997. Making Crime Pay: Law and Order in Contemporary American Politics, Oxford University Press. Published in the Crime and Public Policy Series, edited by Norval Morris and Michael Tonry.

When tasked with cutting ten percent of the budget for Anyold Elementary School, there were some difficult decisions that had to be made. The reality of the situation was that certain areas of the school were going to get less funding than they had traditionally received. It was important to make sure that cuts were thought through and as fair as possible for all stakeholders involved.

“Since 2007 to mid 2009, global financial markets and systems have been in the grip of the worst financial crisis since the depression era of the late 1920s. Major Banks in the U.S., the U.K. and Europe have collapsed and been bailed out by state aid”. (Valdez and Molyneux, 2010) Identify the main macroeconomic and microeconomic causes that resulted in the above-mentioned crisis and make an assessment of the success or otherwise of the actions taken by the U.K government to resolve the problem.

This paper will attempt to answer the question: Is the federal deficit and government deficits in general a good or a bad thing? While it may be easy to lose sight of how the government chooses to handle its money, it is also important for citizens to be conscious of how their money is being spent, and whether or not the current course that the government is plotted on is either sustainable or the best allocation of resources.

Since the global financial crisis of 2008, the UK government has been implementing various policies to combat the recession and stimulate economic growth. This essay will look at how effective the fiscal and monetary policies used since the crisis are in achieving the four-macro economic objectives. In addition, I will provide my input on the best way the UK government can carry out these policies.

Austerity in simple terms is basically a policy of making several cuts like reducing domestic wages in order to balance the budget which would remove debt and restore competitiveness within that country. “Austerity is a form of voluntary deflation in which the economy adjusts through the reduction of wages, prices and public spending to restore a country’s competitiveness, which is best achieved by cutting the state’s budget, debts and deficits” (Blyth, 2015,p.2). He gives various examples of countries that have had experiences of austerity such as Denmark, Sweden, Germany, France and America among several others. “For our purposes here, we need only note that the US economy got worse each time austerity was applied, first in 1193 and again

On June 23rd, 2016 the United Kingdom held a referendum that would ultimately decide their economic and global relationships with the European Union, along with the rest of the world. Brexit, the highly known nickname of the phrase “Britain exiting” was vote to spate from their long standing union with the European Union. As a 52% of the UK passed Brexit it began to start controversy on whether they could or should operate by themselves. Immediately following that day, the price of gold spiked up by four percent. Even before the vote, uncertainty had already arose on the future of the European integration process if Brexit would to have been passed. As the outcome stands today, a majority of the UK approved the detachment of the European Union and would now begin to suffer blows to their economy in the short term, medium term and long term. One such impact that came rather quick was the drop in stocks. The exchange rates were a particular hit on large banks of the state. Though those two initial impacts recuperated in a week’s time, interest on government bonds 3 months or older conceived losses that would not be as easy to recover from as argued by Fichtner, Große Steffen, Hachula & Schlaak (2016) “evidence of this can be found in the prices of credit default swaps (CDS) for gilts, which have sharply increased compared to those of German government bonds” (p, 302). Another prediction leads to believe that government financing costs in particular are to rise in the medium