Fiscal headwinds: is the other shoe about to drop?

Fiscal headwinds: is the other shoe about to drop?

Federal fiscal policy during the recession was abnormally expansionary by historical standards. However, over the past 21/2 years it has become unusually contractionary as a result of several deficit reduction measures passed by Congress. During the next three years, we estimate that federal budgeta...

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Veröffentlicht in:FRBSF Economic Letter 2013, Vol.2013 (16), p.1
Hauptverfasser: Lucking, Brian, Wilson, Daniel
Format: Newsletterarticle
Sprache:eng
Schlagworte:
Budget sequestration
Economic growth
Forecasts and trends
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description Federal fiscal policy during the recession was abnormally expansionary by historical standards. However, over the past 21/2 years it has become unusually contractionary as a result of several deficit reduction measures passed by Congress. During the next three years, we estimate that federal budgetary policy could restrain economic growth by as much as 1 percentage point annually beyond the normal fiscal drag that occurs during recoveries.
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subjects Budget sequestration
Economic growth
Forecasts and trends
title Fiscal headwinds: is the other shoe about to drop?
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