Fiscal fudge. (the budget deficit) (Editorial) From: The Economist (US) | Date: January 7, 1995 | COPYRIGHT 1995 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright information

Advocates of a 'balanced budget' may not even agree on what the terms mean. Through the years a variety of methods have failed to balance the budget. The fault may be a political one, with the politicians preferring to used tax cuts and agricultural subsidies to please constituents, while giving lip service to eliminating the deficit.

THAT many Americans have long favoured amending the constitution to forbid budget deficits is entirely understandable. The perpetual phoney crisis of American fiscal policy has become dull beyond words: it is about time that the entire subject was simply ...

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