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Reducing the federal deficit: approaches in some other countries

Daniel Carroll and John Lindner

Economic Commentary, 2011, issue Oct

Abstract: The United States is not the first advanced modern economy to face a serious federal budget challenge. A number of countries have seen their debt rise to unacceptable levels in recent decades, and they have taken steps to rein it in. We explore the approaches that Canada and the United Kingdom have used. Though there are important differences in approaches and countries, we draw five useful lessons for the reforms that may be proposed in the U.S. as it addresses its fiscal challenges.

Keywords: Deficit financing; Debts, Public - Canada; Debt-United States; Debts, Public - United Kingdom (search for similar items in EconPapers)
Date: 2011
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Handle: RePEc:fip:fedcec:y:2011:i:oct18:n:2011-22