美国财政赤字 中美政府财政状况比较(英文版)

Z3 x R 周浩 钟田一子 张婧 谢媛 任东宇

III. U.S. Budget Deficit Down to $680B, Lowest in 5 Years Read more: U.S. Budget Deficit Down to $680B, Lowest in 5 Years | http://www.77cn.com.cn For the first time in five years, the U.S. government has run a budget deficit below $1 trillion. The government says the deficit for the 2013 budget year totaled $680.3 billion, down from $1.09 trillion in 2012. That’s the smallest imbalance since 2008, when the government ran a $458.6 billion deficit. The deficit is the gap between the government’s tax revenue and its spending. It narrowed for the budget year that ended on Sept. 30 because revenue rose while spending fell. Revenue jumped 13.3 percent to $2.77 trillion, reflecting a slightly better economy and higher tax rates. And government spending declined 2.4 percent to $3.45 trillion, in part because of across-the-board spending cuts that took effect in March.

1、America's development always adjoint with the government budget deficit . 2、two main reasons for US budget deficit . 3、America's deficit problem has great influence on the development of America's and the world's economic. 4、the US fiscal deficit will keep high in the future two years.

美国赤字问题

1981-2012年美国国债与GDP占比

关于美国赤字未来预测

The second question: What factors do you think have contributed to the strong improvement in the nation's near-term fiscal picture?

Two aspects :The increase of fiscal revenues;

The decrease offiscal

expenditure

First factor :Manufacturing return to the U.S. 8/11/2010:U.S. Manufacturing Promotion Act

Second factor: enhancing money issurance

However ,excess money will certainly cause inflation According to Philips curve ,the decrease of unemployment rate makes the increase of inflation rate .

Third factor: inflation Inflation is the covert way that government reduce deficit .government can levy inflation tax from currency holders and government securities holders .obviously ,the larger the scale government securities ,the higher inflation rate ,the more inflation tax will be levied .countries such as Brazil or Mexico with high inflation and huge government securities can obtain the major government revenue by this way .

Forth factor: implement loose monetary policy Recently years ,the annual interest rate of U.S is always below the 0.25%. the low interest rate cause saving decrease and promote market recovery and the sales of durable goods ,so it expand the consumption expenditure .So, the tax revenue is increasing sharply.

Fifth factor: Higher Tax Rates