The fiscal cliff in context

Fernando Martin

Economic Synopses, 2012, No 34

Abstract: Federal revenue is currently well below its postwar, pre-crisis average, while expenditure is well above, with both factors contributing to a large and persistent deficit. Under current law, the deficit situation would be quickly, if painfully, resolved, with the lion?s share resulting from increased tax revenue.

Keywords: Fiscal policy - United States; Budget - United States (search for similar items in EconPapers)
Date: 2012
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