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Lecture 13

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Department
Public Administration
Course
PAP1301
Professor
Joseph Roman
Semester
Fall

Description
Lecture 13November13131132 AM November 13th 2013Turn to deficits and debt1Only started in the 90saDeficit gap between revenues and expendituresaFill in 3 ways Raise taxes cut spending borrowiBecame a regular feature since 1970s end of golden age post war periodaCombo of economic slum and more people were making claims on igovernments on social requirements ex social assistanceProblem of developed countries1Deficit problematic becauseaTake on debt to finance them to service debt draw money away form iother programsDeficits act as drag on economy government spending leads to inflation iitake inflation through rising interest ratesDebts are sustainable as long as they dont surpass 100 gdp never owe more athan you can take outEliminating the deficit1Started with Mulroney was most of his platform but abandons it later stabilized ait to ensure that it didnt outgrow GDP growthGovernment faced economic problems that made him shift his focus iawayPolitical climate wasnt right fo
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