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Administration officials are preparing a fiscal package that is expected to include a reduction in taxes on stock dividends, an easing of the rules for corporate deductions on investments in new equipment and probably an acceleration of personal tax cuts now scheduled for 2004 and 2006.
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Michael P. Jacobson, a former budget official in New York City who helped the former Republican-controlled Nassau Legislature prepare a fiscal plan last fall, said he was left feeling that Nassau's financial management was "completely nonexistent".
Michael P. Jacobson, a former budget official in New York City who helped the Nassau Legislature prepare a fiscal plan last fall, said he was left feeling that Nassau's financial management system was completely nonexistent.
The possibility of a vast web of collusion would be sobering in any case, but the issue is of particular concern now, as Congress and the incoming Obama administration prepare a big fiscal stimulus package that may spawn infrastructure projects carried out and financed at the state and local level.
If Congress doesn't start relearning how to fly, we all need to be prepared for a fiscal crash.
The Fed chief said in order to maintain the confidence of financial markets, the U.S. must prepare a path toward fiscal balance, even as it take steps to fight the recession.
The budget is prepared on a fiscal-year basis by the budget division of the Ministry of Finance.
But it means no such thing if the surplus is mainly a matter of preparing for the fiscal consequences of an aging population.
My advice to President Obama: have your staff prepare an alternative to the fiscal cliff that can be sent to Congress as soon as it reconvenes this year, prepare for Republicans to reject it and then hope to negotiate something that can be enacted as soon as possible in the next Congress.
In preparing their fiscal policy responses to the economic crisis, governments should remember that almost half the people affected by the crisis are children and that their needs are different from those of adults.
The White House has prepared a series of charts to illustrate the administration's fiscal discipline.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com