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Balanced Budget Requirements and Debt Brakes Feasibility and Enforcement

机译:平衡的预算要求和债务制衡的可行性和执行力

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摘要

Balanced budget requirements should achieve fiscal sustainability, avoid a burden on future generations and allow for flexible reactions to cyclical fluctuations in the economy. There are many types of balanced budget requirements and debt limitations with different stringency. These budget restraints have a significant effect when they are applicable. The overall effect on public debt is small since there are many ways to circumvent or evade the restraints. Therefore budget restraints have substantial negative side effects. Public debt is transferred into less controllable budget areas, the structure of governments becomes fragmented and the balance of power is shifted away from the democratically accountable legislature.
机译:平衡的预算要求应实现财政的可持续性,避免给子孙后代造成负担,并允许对经济的周期性波动做出灵活的反应。平衡的预算要求和债务限制有很多类型,但严格程度不同。这些预算限制在适用时会产生重大影响。对公共债务的总体影响很小,因为有许多方法可以规避或逃避约束。因此,预算限制具有重大的负面影响。公共债务被转移到难以控制的预算领域,政府结构变得支离破碎,力量平衡也从民主责任制的立法机构转移到其他地方。

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