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The thrust of fiscal policy in South Australia since 1994 towards reduced budget deficits and the elimination of government dissaving (borrowing to fund consumption, mainly salaries) was opposed from the outset from within the ruling alliance, with calls for a larger role for the state in the economy being accompanied by demands for increased government spending and larger deficits. With president Thabo Mbeki 's departure in 2008 brought about in part by the same political elements, there were reasons for believing that fiscal policy might change. But the global financial crisis and the local recession instead took precedence over policy debates within the alliance. Budget deficits rose and interest rates fell, but for cyclical reasons and not ideological pressures.

Imposition of levies (taxes) by G20 governments to reduce government budget deficit: The G20 summit held in Canada over the weekend has confirmed the trend of fiscal consolidation which is happening in many of the major world economies in the wake of the financial crisis and recession. Leaders have agreed that debt as a proportion of gross domestic product needs to be stabilised or actually reduced by 2016 and it was noted that all the G20 countries had committed to halving their respective deficits within three years. Plans to introduce a global levy on banks have, as expected, been dropped although the summit confirmed that member countries would be free to introduce their own measures. The UK introduced a levy in the emergency Budget last week and some other European countries also have plans to do so...

This article talks about the recession going out in Spain and, more precisely, about the new challenges that the government is facing in order to reduce deficit and public debt, which by the way, has been downgraded by Moody's last week.

In a new study of federal fiscal policies between 1977 and 1992 entitled "Inequality and the Federal Budget Deficit," the nonpartisan group concludes that the tax cuts enacted in that period enriched the wealthy, increased the tax burden of the middle class, and grossly inflated the national debt. The study concludes that the tax cuts have resulted in lower overall federal tax burdens for only the very poorest and very richest of U.S. taxpayers. Most other families are paying a greater percentage of their family income to the government than they would be if the tax code had remained unchanged since 1977.

This article discusses high tax rates that occurred in the past and the supply-side policies used to eliminate them now and today.

Although the United States' problem of mounting fiscal deficits has become common knowledge in recent years, several prominent economists have advocated for additional spending so that the current economic recovery does not sputter. Others on the other hand claim that "In the real world, any increase in government spending is going to further worsen the debt/gross domestic product ratio, meaning debt service will become more and more costly, eventually reaching a point when it is unsustainable…The United States is fast reaching the point of unsustainability - hence there is no real choice but to greatly reduce government spending."

This article talks about the nowadays of the keynesian believes

There is a risk of a double-dip recession because of the chronic lack of aggregate demand and the failure of the austerity packages provided by the European countries.

This article talks mainly about all the economical problems, especially deficits, between European countries and who is to blame for it. And what should we do? Well one statement was: "it will be only a matter of time before one or more countries resort to protectionism. That could, as in the 1930s, lead to a disastrous collapse in activity around the world," He definitely prefers free trade and thinks it is important to focus on a collaborative strategy, so countries should help each other out in these hard economic times instead of work against each other.

This article talks about the process -that has just began- of privatization of the spanish airport controller, in order to reduce deficit and increase supply; a process that is meeting high opposition among the most traditionalist politicians together with most of the employees of AENA, who until now, where public workers, and had some advantages, less working hours, less possibilities of getting fired; which are now losing.