tailieunhanh - The Economic Impact of the President’s 2013 Budget

A substantial part of New Zealand’s economic growth in the fi rst half of the last decade refl ected high rates of growth in labour utilisation. However, the average hours worked per capita has fallen by around 3 percent since 2005. New Zealand’s labour utilisation rate was higher than four of the fi ve OECD countries that we have chosen to benchmark New Zealand against (the ‘comparator’ countries2 ) in 2008, refl ecting a combination of high participation rates, low unemployment, and a high average number of hours worked relative to other OECD countries. It will be. | The Economic Impact of the President s 2013 Budget April 2012 CONGRESS OF THE UNITED STATES Contents Overview 1 How the Government s Fiscal Policies Can Affect the Economy 2 Fiscal Policies and Output in the Short Run 2 Fiscal Policies and Output in the Long Run 3 How the President s Budgetary Proposals Would Affect the Economy 3 Effects on the Economy Through 2017 3 Effects on the Economy After 2017 4 Economic Models and Results 8 Estimated Economic Effects and Their Budgetary Implications Through 2017 8 Estimated Economic Effects and Their Budgetary Implications After 2017 9 Comparison with CBO s Estimate of the President s 2012 Budget 10 Appendix CBO s Methodology for Analyzing the Economic Impact of the President s 2013 Budget 13 About This Document 19 Tables 1. Projected Deficits Under CBO s March 2012 Baseline and CBO s Estimate of the President s Budget With and Without Macroeconomic Effects 2 2. CBO s Estimates of Effective Federal Marginal Tax Rates on Capital Income 5 3. CBO s Estimates of Effective Federal Marginal Tax Rates on Labor Income 7 4. CBO s Estimates of How the President s Budget Would Affect Inflation-Adjusted Gross National Product 8 5. Difference in Projected Deficits Under CBO s March 2012 Baseline and CBO s Estimate of the President s Budget With and Without Macroeconomic Effects 9 A-1. CBO s Estimates of How the President s Budget Would Affect Inflation-Adjusted Gross National Product 2018 to 2022 17 CBO The Economic Impact of the President s 2013 Budget ach year after the President releases his annual budget request the Congressional Budget Office CBO analyzes the proposals and using its own estimating procedures and assumptions projects what the federal budget would look like over the next 10 years if those proposals were adopted. CBO usually provides those results in two parts The first part presents an examination of the proposals budgetary impact without considering their effects on the . economy. The second part which takes more

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