Paper Summary:

The paper discusses how fiscal policy involves the tools of taxes or government spending to stabilize the economy as it transitions through the business cycle. The paper explains that periods that are characterized by recessionary or inflationary pressure can be alleviated with the appropriate expansionary and contractionary fiscal policy respectively.

From the Paper:

"Fiscal policy involves the tools of taxes or government spending to stabilize the economy as it transitions through the business cycle; that is periods that are characterized by recessionary or inflationary pressure can be alleviated with the appropriate expansionary and contractionary fiscal policy respectively. Fiscal policy entails either decreasing taxes and or increasing government spending to stimulate the economy during a recession (expansionary fiscal policy) or increasing taxes and or decreasing government spending to lower inflation (contractionary fiscal policy). This paper will argue that, the United States fluctuations in the..."

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