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Showing results for tags 'recessions'.
Has anyone taken the time to look at the Federal Balanced Budget Act? Some highlights --> Surpluses can only be used to service the federal debt. This means they cannot be put towards anything else. --> Operational spending is frozen during a recession, up to and including wage freezes for the entire civil service, as well as possible wage reductions for the cabinet, deputy ministers, and prime minister. --> A recession ends when two consecutive quarters of growth are reported. I don't recall having any discussion about this piece of legislation that was buried in the omnibus budget bill.