Balanced Federal Budgets

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Balanced Federal Budgets

Economists differ in their ideas about using government spending to stimulate the economy. Some economists follow British political-economist John Maynard Keynes in advocating increased government expenditure to stimulate the economy when it is in recession. In their view, the federal deficit will decline when the economy improves. Others favor allowing market forces to restore equilibrium when the economy is in recession. They believe that the deficit stifles economic growth and prosperity.

You can learn the policy preferences of a city, county, state, other government agency, or a non-profit organization by analyzing its budget. The budget is a plan for allocating the resources required to provide specific services and address strategic priorities.

For this Discussion, review this week’s Learning Resources and focus on the implications of the federal deficit on a public and non-profit organization. Then, select a position either for or against a balanced federal budget. Consider whether the gap needs to be closed or whether there are legitimate reasons for borrowing.

With these thoughts in mind:

Post or write a description of your position on a balanced national budget. Justify your position for or against a balanced national budget by explaining the gains and losses associated with your position.

Be sure to support your posting and responses with specific references to the Learning Resources while using APA referencing style.

Readings

  • Mikesell, J. L. (2014). Fiscal administration: Analysis and applications for the public sector (9th ed.). Boston, MA: Wadsworth.
    • Chapter 3, “Federal Budget Structures and Institutions” (pp. 90–143)
    • Chapter 4, “State and Local Budgets” (pp. 152–173)
    • Chapter 5, “Budget Methods and Practices” (pp. 178–218)
    • Chapter 6, “Budget Classifications, Systems, and Reform: Trying to Make Better Choices” (pp. 240–292)
  • Government Finance Officers Association. (2014). Distinguished Budget Presentation Award Program (Budget Awards Program). Retrieved fromhttp://www.gfoa.co/sites/default/files/BudgetDetailedCriteriaLocationGuideFY2015.pdf

Optional Resources