Economic Survey: United States 2004: Ensuring fiscal sustainability and budgetary discipline I.<Tab/>SUMMARY: The federal budget has moved from a surplus of nearly 1½ per cent of GDP in fiscal year 2001 to a deficit of 3½ per cent in 2003 and a projected 4¼ to 4½ percent in 2004. This rapid decline is attributable to sharply reduced tax receipts following the recession and the demise …showed first 75 words of 885 total…

…showed last 75 words of 885 total…economy is recovering. A strong Fiscal Policy can often work against inflation or unemployment that results from too much or too little spending in the economy. Reference: Bush, George (2001) The White House. President Calls on Senate to Bring Economic Package to Vote. Article retrieved on January 25, 2005. http://www.whitehouse.gov/news/releases/2001/12/20011215.html OECD (2004) Economic Survey: United States 2004: Ensuring fiscal sustainability and budgetary discipline. Article retrieved on January 25, 2005. http://www.oecd.org/document/11/0,2340,en_2649_34595_31458443_1_1_1_1,00.html