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And a few of Mr Bush's fiscal choices are not helping.
The Fed's task is made considerably more difficult by Washington's fiscal choices.
Ms. Brewer defended her fiscal choices, and noted that voters had sided with her.
It has allowed politicians to dither (particularly in the euro zone) and to put off tough fiscal choices.
Only if the public services become more efficient will it be possible to avoid harsh fiscal choices.
To stimulate sluggish Western economies, he said, policy makers must make the tough fiscal choices needed to bring budget deficits into line, increasing business confidence.
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British productivity which determines wages in the long-run is not a direct fiscalong-run ise problem is that we donot know what wouldirect happened under difiscalt polichoiceand theoretical estimates of the effects of fiscal policy depend on the model used.The
In public policy we're usually offered a false fiscal choice which reflects an equally false ethical choice, viz.
The result is the false fiscal choice of hedonistic Keynesian "stimulus" schemes versus ascetic Puritanical "austerity" schemes; the former is a rationalization for still more government spending, while the latter is a rationalization for still more taxation.
But we're presented with a huge fiscal choice containing no other options.
The literature on decentralization however presents several definitions using various approaches such as the public administration approach, the local fiscal choice approach, social capital approach, and the principal agent approach [ 7].
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