Budget games

Article Abstract:

UK Chancellor Gordon Brown will be aware as he prepares his 1999 budget that economic growth has slowed down considerably. Many observers will raise questions about whether Brown will increase public spending and about whether, if he does, he will become unable to control the public finances. It is possible that Brown will opt for higher public spending, but he will continue to ensure that over the current cycle spending will not exceed tax revenues.

Forecasts and trends, Economic policy, Brown, Gordon (British politician)

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Gladstoned: California's budget

Article Abstract:

California's budget for FY 1993 included the transfer of property tax revenues from cities and counties to the state to finance schools. Local governments protested, fearing redevelopment and law enforcement will suffer badly. The temporary sales sur-tax was extended as compensation.

California

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Anti-Social Security: the budget

Article Abstract:

Social Security and Medicare are building huge deficits, because of high benefit payouts, stagnant wages and population growth, and modest economic growth. The deficit can be stemmed by either raising the retirement age to 70 or lowering cost-of-living adjustments.

Analysis, Social security, Medicare, Entitlement spending

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