The Political Economy of the Budget Surplus in the United States

Alberto Alesina

Journal of Economic Perspectives, 2000, vol. 14, issue 3, 3-19

Abstract: Current surpluses in the U.S. have been achieved by a combination of a strong economy, low interest rates, and sharp cuts in defense spending. These surpluses follow a period (the 1980s) of rather exceptional budget deficit. This paper investigates the origin, size, and expected future patterns of the U.S. budget balance. It discusses how different political forces may generate alternative fiscal scenarios for the U.S. in the next decade.

JEL-codes: E62 H61 P16 (search for similar items in EconPapers)
Date: 2000
Note: DOI: 10.1257/jep.14.3.3
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Citations: View citations in EconPapers (26)

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