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Essay / Research Paper Abstract
This 5 page paper is written in two parts. The first part assesses the US budget in 2012 determining whether it is contractionary or expansionary, looking at how it has changed. The second part of the paper is an 8 slide PowerPoint presentation explaining the different between macroeconomics and microeconomics. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS65_TEUSfismacro.doc
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Unformatted sample text from the term paper:
the United States may be argued as being contractionary. In the US Government Budget for fiscal year 2013 signed by President Obama, in February 2012 it is apparent that there
are measures being taken to try and stimulate the economy, but the overall picture is one where there is an emphasis on the use of budgeting to reduce the government
spending deficit. A good example of this is the introduction of the "Affordable Care Act" which the budget states is expected to reduce the budget deficit by more than $1
trillion over the net 20 years (Obama, 2012). It is also argued that measures such as the pay as you go spending rule and the cutting of duplicate programs and
reform are all ways that the government is showing contraction in spending by reducing the level of spending. When looking at different departments there are a number departments where
there is a decline in the budget outlays, which also supports the assertion of a contractionary fiscal budget, one example is the environmental protection agency, the total outlay in 2011
was $10,722 million, this is expected to decrease to $9,352 million in 2012 and then $8,935 million in 2013. However, there are some areas where the budget is increasing
rather than decreasing, such as the social security administration where the total outlay in 2011 was $786,374 million, and is expected to increase to $817,473 million in 2012 and $882,733
million in 2013. This is obviously in excess of the rate of inflation so starts to lead to an argument that it is expansionary rather than contracting. However, when
looking at the projections which were in place 3 years ago, when the current administration came to power, it was projected that there would be $10 trillion deficit in a
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