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Political debates about the United States federal budget : ウィキペディア英語版 | Political debates about the United States federal budget
Many of the debates about the United States federal budget center on competing macroeconomic schools of thought. In general, Democrats favor the principles of Keynesian economics to encourage economic growth via a mixed economy of both private and public enterprise, and strong regulatory oversight. Conversely, Republicans generally support applying the principles of either ''laissez-faire'' or supply-side economics to grow the economy via small government, low taxes, limited regulation, and free enterprise. Debates have surrounded the appropriate size and role of the federal government since the founding of the country. These debates also deal with questions of morality, income equality and intergenerational equity. For example, Congress adding to the debt today may or may not enhance the quality of life for future generations, who may also have to bear additional interest and taxation burdens.〔(Peter G. Peterson Foundation-Citizen's Guide 2010 )〕 Political realities make major budgetary deals difficult to achieve. While Republicans argue conceptually for reductions in Medicare and Social Security, they are hesitant to actually vote to reduce the benefits from these popular programs. Democrats on the other hand argue conceptually for tax increases on the wealthy, yet may be hesitant to vote for them because of the effect on campaign donations from the wealthy. The so-called budgetary "grand bargain" of tax hikes on the rich and removal of some popular tax deductions in exchange for reductions to Medicare and Social Security is therefore elusive. Debates following the 2008-2009 recession and resulting slow economic growth and high unemployment have centered on the prioritization of job creation and economic stimulus versus the need to address significant budget deficits.〔(NYT-Paul Krugman-http://www.nytimes.com/2011/08/12/opinion/the-hijacked-crisis.html?_r=0 NYT-Paul Krugman-The Hijacked Crisis-August 11, 2011 )〕〔(President Obama-Weekly Address-November 10, 2012 )〕 ==Cause of decline in U.S. financial position==
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