ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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UNITED STATES-Behind Budget Dispute

Behind Budget Dispute A correspondent writes: THE stand-off between the US president and his opponents in the US Congress should be of interest to us in lndia for at least one reason, namely, the fiscal deficit, as we call it here. While the parties to the dispute have temporarily reached a sort of truce over the time-frame within which the deficit has to be eliminated, they are taking positions which are far apart, at least seemingly so, on not only the proposed estimates and underlying assumptions but also the manner in which the deficit has to be reduced. President Clinton had a 10-year target whereas the US Congress wanted to balance the budget in seven years. Now it has been agreed between the two sides to work towards a balanced budget within seven years.

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