In economics and political science, fiscal policy is the use of government revenue collection and expenditure (spending) to influence the economy. Fiscal policy is often used to stabilize the economy over the course of the business cycle.
The Federal Old-Age and Survivors Insurance Trust Fund and Federal Disability Insurance Trust Fund are trust funds that provide for payment of Social Security benefits administered by the United States Social Security Administration.
A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a government budget surplus, and a negative balance is a government budget deficit. A budget is prepared for each level of government and takes into account public social security obligations.
Proposition 53 was a California ballot proposition on the October 7, 2003, special recall election ballot. It failed to pass with 3,020,577 (36.2%) votes in favor and 5,318,065 (63.8%) against. It was placed on the ballot by a vote of the state legislature on Assembly Constitutional Amendment 11.
Proposition 46 was a California ballot proposition on the November 5, 2002 ballot. The official title was Housing and Emergency Shelter Trust Fund Act of 2002. It passed with 3,984,121 (57.6%) votes in favor and 2,942,851 (42.4%) against. It was placed on the ballot by a vote of the California State Legislature on SB 1227.
Proposition 56 was a California ballot proposition on the March 2, 2004 ballot. It failed to pass with 2,185,868 (34.3%) votes in favor and 4,183,188 (65.7%) against. It was intended to penalize the state's elected officials for every day that the state budget is overdue. The proposition would also have lowered the threshold required pass a budget and enact new budget-related taxes to 55% from the two-thirds supermajority vote currently required.. Prop 56 was officially known as the Budget Accountability Act.
Proposition 57 was a California ballot proposition on the March 2, 2004 primary election ballot. It was passed with 4,056,313 (63.4%) votes in favor and 2,348,910 (36.6%) against. The proposition authorized the state to sell $15 billion in long-term bonds to pay off accumulated deficits. Proposition 57 went into effect only because Proposition 58 also passed.
Proposition 60A was an amendment of the Constitution of California, enacted in 2004, relating to funds from the sale of government property. It was proposed by the California Legislature and approved by the voters in a referendum held as part of the November 2004 election, by a majority of 73%.
A balanced budget amendment is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government.
The California special election of 2005 was held on November 8, 2005 after being called by Governor Arnold Schwarzenegger on June 13, 2005.
Proposition 76 was a ballot proposition in the state of California in the referendum election. It involves school funding, state spending, and is an initiative constitutional amendment.
The United States federal budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs. The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects. It has reported that the U.S. is facing a series of long-term financial challenges, as the population of the country ages and healthcare costs continue growing faster than the economy, leading to the debt held by the public exceeding GDP by 2030. The United States has the largest external debt in the world and the 14th largest government debt as % of GDP in the world.
California's state elections were held November 3, 1992. Necessary primary elections were held on March 3. Up for election were all the seats of the State Assembly, 20 seats of the State Senate, and fifteen ballot measures.
Proposition 1A was a defeated California ballot proposition that appeared on the May 19, 2009 special election ballot. It was a constitutional amendment that would have increased the annual contributions to the state's rainy day fund. The proposition was legislatively referred to voters by the State Legislature.
Proposition 1C was a defeated California ballot proposition that appeared on the May 19, 2009 special election ballot. The measure was a legislatively referred constitutional amendment that would have made significant changes to the operation of the State Lottery.
The U.S. state of California had a budget crisis in which it faced a shortfall of at least $11.2 billion, projected to top $40 billion over the 2009–2010 fiscal years.
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence. The main purpose was to eliminate revenue deficit of the country and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly advised the Government of India to reconsider reinstating the provisions of the FRBMA. N. K. Singh is currently the Chairman of the review committee for Fiscal Responsibility and Budget Management Act, 2003, under the Ministry of Finance (India), Government of India.
California state elections in 2018 were held on Tuesday, November 6, 2018, with the primary elections being held on June 5, 2018. Voters elected one member to the United States Senate, 53 members to the United States House of Representatives, all eight state constitutional offices, all four members to the Board of Equalization, 20 members to the California State Senate, and all 80 members to the California State Assembly, among other elected offices.
California Proposition 69 was a legislatively referred constitutional amendment that appeared on ballots in California in the June primary election in 2018. This measure put the revenue from the Road Repair and Accountability Act, which increased fuel taxes, in a "lockbox" so that it can only be used for transportation-related purposes. It also exempts said gas tax revenue from the previously existing appropriations mandate and expenditures limit. This state constitution amendment ensures that revenues from SB1 Gas Taxes established by the Road Repair and Accountability Act of 2017 can only be used for transportation-related purposes.
