Telling the Truth and Showing the Way

Having fiscal space allows for increased government spending or tax cuts to stimulate economic growth when necessary. * Inflation concerns. A sustainable fiscal policy involves balancing spending and revenue to maintain a healthy fiscal position over the long term. [...]addressing the national debt...

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Bibliographic Details
Published inThe CPA journal (1975) Vol. 94; no. 3/4; pp. 6 - 7
Main Author DioGuardi, Joseph J
Format Journal Article
LanguageEnglish
Published New York New York State Society of Certified Public Accountants 01.03.2024
Subjects
Accounting
Accounting systems
Borrowing
Budgets
Competition
Credit cards
Economic growth
Economic stabilization
Expenditures
Fiscal policy
GAAP
Government obligations
Government spending
Inflation
Interest rates
International finance
National debt
Politics
Securities markets
Sustainability
United States > US
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Summary:Having fiscal space allows for increased government spending or tax cuts to stimulate economic growth when necessary. * Inflation concerns. A sustainable fiscal policy involves balancing spending and revenue to maintain a healthy fiscal position over the long term. [...]addressing the national debt is vital for maintaining economic stability, protecting future generations from excessive financial burdens, and ensuring the government's ability to provide essential services and respond effectively to economic challenges. There is no better way to do this, however, than to follow the rationale behind my argument on ending the credit card mentality by implementing U.S. GAAP standards in the government accounting system.™ Joseph J. DioGuardi, CPA, is the president of Truth in Government (https ://www. truthingovernment, org), New York, NY, and a former member of the U.S. House of Representatives.
ISSN:0732-8435