| 单词 | balanced budget |
| 释义 | balanced budget Equality between total government receipts and expenditure. There is thus no need to borrow and thereby increase the government debt. In a fluctuating economy it is neither possible nor desirable to have the budget exactly balanced each year. Some economists believe, however, that the budget should be balanced on average over a trade cycle. Others maintain that there is no point in balancing the budget, and argue that there is in any case so much scope for dispute over the definition of the budget deficit that the argument is pointless. For example, should the budget to be balanced be cyclically adjusted budget deficit Should it include payments of nominal or of real interest by the government on its existing debt? Should interest on the debts of state-owned industries, or income on the assets of the national insurance fund, be included or excluded? The Maastricht, Treaty of proposes an upper limit on budget deficits of 3 per cent of GNP, rather than balanced budgets, as an agreed constraint on the budgets of EU members. |
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