Publications

Strategic Analysis | October 2003

Deficits, Debts, and Growth

A Reprieve but Not a Pardon

These are fast-moving times. Two years ago, the Congressional Budget Office (CBO, 2001) projected a federal budget surplus of $172 billion for fiscal year 2003. Within a year, the projected figure had changed to a deficit of $145 billion (CBO 2002). The actual figure, near the end of fiscal year 2003, turned out to be a deficit of about $390 billion. And just one month ago, President Bush submitted a request to Congress for an additional $87 billion appropriation for war expenditures, over and above the $166 billion tallied so far. It is widely anticipated that even this will have to be revised upward by the end of the coming year (Stevenson 2003; Firestone 2003).


Publication Highlight

Working Paper No. 944
The Empirics of Canadian Government Securities Yields
Author(s): Tanweer Akram, Anupam Das
January 2020

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