Description: The FY2009 federal deficit swelled to $1.414 trillion, or nearly 10% of gross domestic product (GDP), due to the economic recession. The size of recent deficits has added to longstanding concerns regarding the federal government's long-term fiscal condition. However, deficit finance can serve as an important policy tool. This report discusses how deficit finance can help governments manage their economies and how large and persistent deficits can lead to severe economic problems.
Date: September 14, 2010
Creator: Austin, D. Andrew
Partner: UNT Libraries Government Documents Department