Glossary
Opinions
Articles
Beginners Course
Lecture Modules - PDS
Exams
New Highs
Winning Shares
Lecture Modules - Resellers
About - Background Approach
Privacy Policy
Daily Quiz
Software Download Steps
Logout
Dashboard
Log out
An American Act, "The Balanced and Emergency Budget Deficit Control Act" was designed to bring the American budget into balance by 1991 or a series of budget cuts would come into effect. The Act was introduced into the House by US Senators Phil Gramm, Warren Rudman and Fritz Hollings. The US constitution does not require that the budget be balanced and the Act was ruled unconstitutional by the Supreme Court, but it was passed again in 1987 with new deficit numbers. Subsequently the Budget Enforcement Act of 1990 removed fixed deficit targets. After the year 2000 the budget deficit has been rising rapidly. It soared to R864bn in June month of 2020 because of efforts to compensate for COVID-19. The total US national debt can be seen https://www.usdebtclock.org/