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Diane Publishing Books
Budget Surpluses: Experiences of Other Nations & Implications for the U.S.
Thomas M. James & Bryon Gordon. Reviews the experience of 6 nations with budget surpluses (BS) in 1999 -- Australia, Canada, New Zealand, Norway, Sweden, & the U.K. Determines how these nations achieved BS, used BS to address long-term budgetary pressures, & adapted their budget processes once BS were achieved. Like the U.S., these nations achieved BS largely as the result of improving economies & sustained deficit reduction efforts. As they entered a period of BS, these nations debated how BS should be used & developed unique strategies for using BS to address national priorities. This experiences suggest that it is possible to sustain support for continued fiscal discipline during a period of BS while also addressing selected pent-up demands.
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