Fiscal policy
Fiscal Policy is the economic term which describes the behaviour of governments in raising money to fund current spending and investment for collective social purposes and for transfer payments to citizens and residents of the territory for which the government is responsible. The money may be raised by taxation, by borrowing, by fiat (ie the government declaring a particular token to be money and demanding that it be accepted in settlement of debts) or by user charges on social assets or services.A government which wishes to borrow from foreign citizens will need to maintain accounts to allow potential creditors to assess its credit worthiness. These accounts are typically maintained on an annual basis giving rise to a fiscal year. In each fiscal year a government will have a total income (its revenue) and a total expenditure. The latter minus the former is the fiscal deficit (or fiscal surplus if negative). Year on year the fiscal deficit adds to (or reduces) outstanding government borrowing. If government debt is denominated in the government's own currency, then it will be devalued in line with the country's domestic inflation. Under crisis conditions a government may choose to default on (ie repudiate) its foreign (or more rarely) its domestic debt.
A government will pay interest on its outstanding debt. This must be paid out of revenue. For this reason a government will typically aim to ensure that its fiscal deficit averaged over the business cycle is no greater than the share of state spending of gross domestic product multiplied by the sustainable rate of growth of gross domestic product. The government's detailed decisions in this arena form its fiscal policy.
Romans shall come and take away both our place and nation.html">nation.
11/11.html">11/11.html">11/11.html">11:49 And one of them, named Caiaphas, being the high priest that same
it is expedient for us, that one man should die.html">die for the people, and
year, he prophesied that Jesus should die for that nation; 11:52 And
one the children of God that were scattered abroad.
11:53 Then from that day forth they took counsel together for to put.html">put
thence unto a country.html">country near to the wilderness, into a city called
the country up to Jerusalem before the passover.html">passover, to purify themselves.
11:56 Then sought they for Jesus, and spake among themselves, as they
feast? 11:57 Now both the chief priests and the Pharisees had given a
that they might take him.
12/12.html">12/12.html">12/12.html">12:1 Then Jesus six days before the passover came to Bethany, where
one of them that sat at the table with him.
12:3 Then took Mary a pound of ointment of spikenard, very costly, and
house was filled with the odour of the ointment.
12:4 Then saith one of his disciples, Judas Iscariot, Simon's son,
hundred pence, and given to the poor? 12:6 This he said, not that he
bare what was put therein.
12:7 Then said Jesus, Let her alone: against the day of my burying
they came not for Jesus' sake only, but that they might see Lazarus
to death; 12:11 Because that by reason of him many of the Jews went
they heard that Jesus was coming to Jerusalem, 12:13 Took branches of
the King of Israel that cometh in the name of the Lord.
12:14 And Jesus, when he had found a young ass.html">ass, sat thereon; as it is
sitting on an ass's colt.
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