Keyword: government budgets

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Europe

Europe’s Defense Sector

This European survey examines (a) The likely need for increased European public investment in defense should come with substantial reallocations of public budgets at the national and EU levels; (b) Greater use of joint EU-level procurement of military equipment and defense research/innovation would promote substantially enhanced capacity in Europe's defense industry; (c) Increased defense spending would deliver a measurable boost to economic growth in Europe over the next five years
Europe

Germany’s Debt Brake

This European survey examines (a) A constitutional rule that limits the size of budget deficits that governments can run as a share of GDP is an effective way to impose discipline on a country’s public finances;  (b) Germany’s debt brake is a substantial constraint on vital public investment in physical/digital infrastructure and the green transition
Europe

Fiscal Rules

This European survey examines (a) Fiscal rules on budget deficits and public debt levels are an essential part of a sound fiscal framework; (b) Since the inception of the Stability and Growth Pact, budget deficits in Europe have been measurably lower, on average, than would have been the case without common budget rules; (c) Since the inception of the Stability and Growth Pact, the path of GDP growth in Europe has been measurably more stable than would have been the case without common budget rules
US

Fiscal Rules

This US survey examines (a) Fiscal rules on budget deficits and public debt levels are an essential part of a sound fiscal framework; (b) Since the inception of the Stability and Growth Pact, budget deficits in Europe have been measurably lower, on average, than would have been the case without common budget rules; (c) Since the inception of the Stability and Growth Pact, the path of GDP growth in Europe has been measurably more stable than would have been the case without common budget rules
US

Tax Reform

This week's IGM Economic Experts Panel Statements: A)   If the US enacts a tax bill similar to those currently moving through the House and Senate— and assuming no other changes in tax or spending policy — US GDP will be substantially higher a decade from now than under the status quo. B)    If the US enacts a tax bill similar to those currently moving through the House and Senate— and assuming no other changes in tax or spending policy — the US debt-to-GDP ratio will be substantially higher a decade from now than under the status quo.
US

Balanced Budget Amendment

This week's IGM Economic Experts Panel Statements: A) Amending the Constitution to require that the federal government end each fiscal year without a deficit would substantially reduce output variability in the United States. B) Amending the Constitution to require that the federal government end each fiscal year without a deficit would substantially lower the cost of borrowing for the federal government.
US

The CBO

This week’s IGM Economic Experts Panel statements: A) Forecasting the effects of complex legislative actions is hard, so even competent, non-ideological and non-partisan projections could differ substantially from outcomes. B) Adjusting for legal restrictions on what the CBO can assume about future legislation and events, the CBO has historically issued credible forecasts of the effects of both Democratic and Republican legislative proposals.