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Essay / Research Paper Abstract
This 11-page paper answers two questions about fiscal policy, the first being how government can control policy to boost consumer savings, the second involving how fiscal and monetary policy are intertwined. Bibliography lists 8 sources.
Page Count:
11 pages (~225 words per page)
File: D0_MTfissav.rtf
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Unformatted sample text from the term paper:
savings. The government wishes to increase the level of savings in the economy. As an adviser to the government what tax (fiscal) policies would you recommend to achieve
this objective? Trying to spur consumer savings (versus consumer spending) has been an economic nightmare for many governments. While fiscal theory is
great, many times, it doesnt translate well to reality. For example, there has been a concern when it comes to privatizing the U.S. Social Security system, that people will be
given no incentive to save part of their income for the future. By the same token, President George W. Bushs tax cut plan (which returned some money to taxpayers) was
thought to be a good way to spur economic growth in a sluggish economy. But consumers didnt spend their tax rebates on goods and services, necessarily. As the economy was
in a recession, many consumers tightened their belts and put their money into bank accounts and other investments for savings purposes. We
can, however, examine the effects of fiscal policy on the economy (as well as savings) by examining some fiscal policy models, which well do before offering our own recommendations. Before
beginning, however, it needs to be remembered that most fiscal policy theory operates on the assumption that "all other things are equal" (Gale and Orszag, 2003). As an aside, this
is one problem with fiscal policy -- more often than not, from the macroeconomic sense, all things are NOT equal. In its
most simplistic form, higher budget deficits tend to reduce national savings (as well as future national income) -- even if interest rates stay the same with help from international capital
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