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 Collection: Congressional Research Service Reports
The Budget Deficit and the Trade Deficit: What Is Their Relationship?

The Budget Deficit and the Trade Deficit: What Is Their Relationship?

Date: March 24, 2005
Creator: Labonte, Marc & makinen, gail
Description: During the last half of the 1990s, real gross domestic investment rose as a fraction of real GDP. This resulted from the rise in U.S. productivity and the related rise in the real yield on U.S. assets. This drew additional private capital from abroad. If the twin deficits theory is correct, it has an adverse implication for the efficacy of fiscal policy as a stimulus tool. It suggests that in an environment of highly mobile international capital flows the effect of policy induced increases in the structural budget deficit (e.g., tax cuts) on short-run economic growth would be largely offset by increases in the trade deficit. The experience during both the 1980s and 1990s demonstrates that a large and growing trade deficit need not be an impediment to overall job creation even though it may have had an effect on the type of jobs that were created since it affected the composition of U.S. output.
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The Budget Deficit and the Trade Deficit: What Is Their Relationship?

The Budget Deficit and the Trade Deficit: What Is Their Relationship?

Date: January 31, 2003
Creator: Labonte, Marc
Description: During the last half of the 1990s, real gross domestic investment rose as a fraction of real GDP. This resulted from the rise in U.S. productivity and the related rise in the real yield on U.S. assets. This drew additional private capital from abroad. If the twin deficits theory is correct, it has an adverse implication for the efficacy of fiscal policy as a stimulus tool. It suggests that in an environment of highly mobile international capital flows the effect of policy induced increases in the structural budget deficit (e.g., tax cuts) on short-run economic growth would be largely offset by increases in the trade deficit. The experience during both the 1980s and 1990s demonstrates that a large and growing trade deficit need not be an impediment to overall job creation even though it may have had an effect on the type of jobs that were created since it affected the composition of U.S. output.
Contributing Partner: UNT Libraries Government Documents Department
Budget Deficits: Causes, Effects and Some Remedial Options

Budget Deficits: Causes, Effects and Some Remedial Options

Date: July 15, 1985
Creator: Grinnell, David & Cox, William A
Description: In 1981 Congress enacted extensive changes in taxing and spending policies that supporters of these changes expected to generate sufficient revenues, despite a series of tax rate cuts, to balance the budget by FY84. After the onset of recession in early 1982, however, the Reagan Administration's projections showed widening budget deficits, which culminated in an actual FY83 deficit of $195.4 billion. Despite enactment of the Tax Equity and Fiscal Responsibility Act of 1982, and, more recently, the Deficit Reduction Act of 1984, large deficits are expected to persist, even under continued favorable economic conditions, unless Federal taxing and spending policies are altered dramatically.
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Budget Enforcement Procedures: Senate's Pay-As-You-Go (PAYGO) Rule

Budget Enforcement Procedures: Senate's Pay-As-You-Go (PAYGO) Rule

Date: June 2, 2003
Creator: Heniff, Bill, Jr
Description: The Senate’s “pay-as-you-go,” or PAYGO, rule generally prohibits the consideration of direct spending and revenue legislation that is projected to increase (or cause) an on-budget deficit in any one of three time periods: the first year, the first 5 years, and the second 5 years, covered by the most recently adopted budget resolution. Any increase in direct spending or reduction in revenues resulting from such legislation must be offset by an equivalent amount of direct spending cuts, tax increases, or a combination of the two.
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The Budget Reconciliation Process: The Senate's "Byrd" Rule

The Budget Reconciliation Process: The Senate's "Byrd" Rule

Date: February 19, 2004
Creator: Keith, Robert
Description: Reconciliation is a procedure under the Congressional Budget Act of 1974 by which Congress implements budget resolution policies affecting mainly permanent spending and revenue programs. The principal focus in the reconciliation process has been deficit reduction, but in recent years reconciliation has encompassed revenue reduction generally and spending increases in selected program areas. The Byrd rule provides six definitions of what constitutes extraneous matter for purposes of the rule (and several exceptions thereto), but the term is generally described as covering provisions unrelated to achieving the goals of the reconciliation instructions.
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The Budget Reconciliation Process: The Senate's "Byrd" Rule

The Budget Reconciliation Process: The Senate's "Byrd" Rule

Date: April 7, 2005
Creator: Keith, Robert
Description: Reconciliation is a procedure under the Congressional Budget Act of 1974 by which Congress implements budget resolution policies affecting mainly permanent spending and revenue programs. The principal focus in the reconciliation process has been deficit reduction, but in recent years reconciliation has encompassed revenue reduction generally and spending increases in selected program areas. The Byrd rule provides six definitions of what constitutes extraneous matter for purposes of the rule (and several exceptions thereto), but the term is generally described as covering provisions unrelated to achieving the goals of the reconciliation instructions.
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Broadband Internet Access and the Digital Divide: Federal Assistance Programs

Broadband Internet Access and the Digital Divide: Federal Assistance Programs

Date: April 12, 2011
Creator: Kruger, Lennard G. & Gilroy, Angele A.
Description: The "digital divide" is a term used to describe a perceived gap between "information haves and have-nots," or in other words, between those Americans who use or have access to telecommunications and information technologies and those who do not. Whether or not individuals or communities fall into the "information haves" category depends on a number of factors, ranging from the presence of computers in the home, to training and education, to the availability of affordable Internet access.
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Budget Reconciliation Legislation: Development and Consideration

Budget Reconciliation Legislation: Development and Consideration

Date: November 26, 2012
Creator: Heniff, Bill, Jr.
Description: This report briefly discusses the budget reconciliation process, which is an optional two-step process Congress may use to assure compliance with the direct spending, revenue, and debt-limit levels set forth in budget resolutions.
Contributing Partner: UNT Libraries Government Documents Department
Conservation Reserve Program: Policy Issues for the 1995 Farm Bill

Conservation Reserve Program: Policy Issues for the 1995 Farm Bill

Date: December 19, 1994
Creator: Zinn, Jeffrey A
Description: The Conservation Reserve Program (CRP), enacted in 1985, enables producers to bid to retire highly erodible or environmentally sensitive crop land for 10 years (or longer under certain circumstances). Successful bidders receive annual rental payments, and cost-sharing and technical assistance to install approved plantings. The program was to enroll between 40 and 45 million acres before 1996. Program goals are to reduce erosion and excess production, and more recently, to provide other environmental benefits. To date, about 36.5 million acres have been enrolled.
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Congressional Use of Funding Cutoffs Since 1970 Involving U.S. Military Forces and Overseas Deployments

Congressional Use of Funding Cutoffs Since 1970 Involving U.S. Military Forces and Overseas Deployments

Date: January 10, 2001
Creator: Grimmett, Richard F
Description: This report provides background information on major instances, since 1970, when Congress has utilized funding cutoffs to compel the withdrawal of United States military forces from overseas military deployments. It also highlights key efforts by Congress to utilize the War Powers Resolution, since its enactment in 1973, to compel the withdrawal of U.S. military forces from foreign deployments. In this review, legislation expressing the “sense of the Congress” regarding U.S. military deployments is not addressed.
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