What went wrong in Greece was not the fiscal adjustment.

A Future Oriented US Fiscal Policy

Such extraordinary fiscal largesse, all at taxpayers expense, cannot continue indefinitely.

Although fiscal policy was not the only cause of the double dip, ill timed retrenchment certainly contributed to it.

But we can better achieve our objectives under an EU framework that supports, rather than impedes, national action to boost growth and employment.

Fiscal discipline remains essential, as are deep structural reforms.

Fiscal consolidation and national reforms are essential and should continue.

Fiscal integration is high on the five presidents agenda.

Its fiscal weakness limits its ability to act as global policeman.

A common fiscal policy remains a distant dream, as does a genuine political union.

The first task is structural and redistributive it concerns the size of the budget and its detailed structure on both the spending and revenue sides.

It is essential to realize that fiscal policy fulfills two very different tasks.

Both monetary and fiscal policies facilitated growth, but Europe did not help much to redress America's external imbalance.

Both bank regulation and fiscal policy require a great deal more Europeanization.

Budget estimates for the period from 1 July 2003 to 30 June 2004

Budget estimates for the period from 1 August 2003 to 30 June 2004

Budget estimates for the period from 1 July 2004 to 30 June 2005

Budget estimates for the period from 1 May 2004 to 30 June 2005

Budget estimates for the period from 1 July 2005 to 30 June 2006

Budget estimates for the period from 25 August 2006 to 31 March 2007

Budget estimates for the period from 1 July 2006 to 31 March 2007

Budget estimates for the period from 1 July 2006 to 30 June 2007

Budget estimates for the period from 1 July 2007 to 30 June 2008

Lacking access to basic economic tools such as exchange rate and monetary policies, Argentina could not surmount the profound external shocks of the second half of the 1990s, when export prices fell, the US dollar appreciated, and Brazil, the country's main trading partner, devalued its currency. The only alternative was severe fiscal austerity, for which the government never mustered the political will.

The only alternative was severe fiscal austerity, for which the government never mustered the political will.

So there is no alternative to fiscal policy if we want to reverse the current downturn.

Such a simple minded budget policy as an across the board freeze in nominal budgets should be ended immediately.

Revised budget estimates for the period from 1 July 2003 to 30 June 2004

Revised budget estimates for the period from 1 July 2004 to 30 June 2005

Revised budget estimates for the period from 1 July 2005 to 30 June 2006

Revised budget estimates for the period from 1 July 2006 to 30 June 2007

Indeed, the current budget war seems to be reopening old divisions about America s view of itself and the world.

At the same time, fiscal adjustment remains essential to Italy s short and long term stability.

Fiscal policy currently is a drag on economic growth in both the eurozone and the UK.

There is a fiscal path to enhancing prosperity for middle income Americans.

There is far more consensus over monetary policy than over fiscal policy. And fiscal policy is far more complex and multi dimensional.

And fiscal policy is far more complex and multi dimensional.

The problem is that governments in the region have yet to realize that countercyclical fiscal policy implies rowing against the current in both parts of the cycle spending more when times are bad (the easy part) and spending less when times are good (the true test of virtue). Today, fiscal policy remains too expansionary in virtually every Latin American country.

Today, fiscal policy remains too expansionary in virtually every Latin American country.

Fiscal austerity has exacerbated the impact of deleveraging by exerting a direct and indirect drag on growth.

Temporary budgetary support on a declining scale for three years, subject to EU supervision over budgetary expenditures.

Budgetary support in the context of a Customs Union would be a more effective way to disburse EU funds than conventional methods.

The US fiscal position is no better than that of major European countries like Germany, France, or the United Kingdom in fact, it is worse.

Syriza s economic program neglects the important fact that fiscal consolidation and structural measures not only form part of Greece s commitments they also serve the country s long term interest.

The budget war is not producing any consensus on fixing America s infrastructure, but it is beginning to produce a view that Afghanistan and Pakistan are far from being core US national interests.