04Budget Analysis and Deficit Financing（课件）- 《财政与金融》同步教学（人民大学·第五版）

4.1 Government Budgeting 4.2 Measuring the Budgetary Position of the Government: Alternative Approaches 4.3 Do Current Debts and Deficits Mean Anything? A Long-Run Perspective 4.4 Why Do We Care About the Government’s Fiscal Position? 4.5 Conclusion Budget Analysis and Deficit Financing 4 1 of 51 1 C H A P T E R 4 ■ B U D G E T A N A L Y S I S A N D D E F I C I T F I N A N C I N G of 51 of 51 C H A P T E R 4 ■ B U D G E T A N A L Y S I S A N D D E F I C I T F I N A N C I N G 2 Excerpts from Inaugural Speeches and the U.S. Deficit 4.1 “We will continue along the path toward a balanced budget in a balanced economy.” President Lyndon Johnson Deficit in first year in office (1964): 0.9% of GDP Deficit in last year in office (1968): 2.9% of GDP “We must balance our federal budget so that American families will have a better chance to balance their family budgets.” President Richard Nixon Deficit in first year in office (1969): –0.3% of GDP (surplus) Deficit in last year in office (1974): 0.4% of GDP of 51 C H A P T E R 4 ■ B U D G E T A N A L Y S I S A N D D E F I C I T F I N A N C I N G 3 Excerpts from Inaugural Speeches and the U.S. Deficit 4.1 “We can achieve a balanced budget by 1979 if we have the courage and the wisdom to continue to reduce the growth of federal spending.” President Gerald Ford Deficit in first year in office (1975): 3.4% of GDP Deficit in last year in office (1976): 4.2% of GDP “With careful planning, efficient management, and proper restraint on spending, we can move rapidly toward a balanced budget, and we will.” President Jimmy Carter Deficit in first year in office (1977): 2.7% of GDP Deficit in last year in office (1980): 2.7% of GDP of 51 C H A P T E R 4 ■ B U D G E T A N A L Y S I S A N D D E F I C I T F I N A N C I N G 4 Excerpts from Inaugural Speeches and the U.S. Deficit 4.1 “[This budget plan] will ensure a steady decline in deficits, aiming toward a balanced budget by the end of the decad