US: NEW TRENDS IN SHAPING BUDGET POLICY

L. F. Lebedeva () and S. V. Emelianov ()

International Trade and Trade Policy, 2017, issue 3

Abstract: Donald Trump’s economic and political goals may significantly reshape US federal budget priorities. The possible consequences of the planned changes in budget structure are examined by the authors in view of supporting research and development sector, taking into consideration the constraints imposed by growing budget deficits, gross debt of the federal government and net interest payments on it. Contemporary situation and new policies are being compared with the previous periods when the US government was also running annual budget deficit. The significance of developing of innovative products and services and bringing innovative technology products and services to market are in focus along with the government role in developing research projects and commercialization their results. In view of President Trump’s budget proposals to make cuts across many federal programs, including financing the National Institutes of Health and certain programs to train health professionals, funding of these Institutes is analyzed. It is pointed out that effective national policy in science and technology remains one of the key US priorities, though the instruments of its implementing, the structure of funding are being in the process of transformation.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2017:id:206

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