Budgeting And Government Sources – Coursework Example
Budgeting and Government Sources New Approaches for Developing Public Revenue The discussion begins with Indiana’s Governor Pence, who asserts that one of the ways the public revenue can be created is through, doing things in an appropriate way, basically through a proper balanced budget. The governor asserts that this can be achieved through cutting off budgets, through the authority and the powers constituted upon the county government by the constitution. Additionally, tax reliefs and economic reforms are some of the approaches that are mentioned by the governor regarding how states can develop public revenue. Moreover, educations on investments as well as infrastructural developments are some of the ways that can be used to develop public revenues according to Governor Pence.
Issues and Challenges in Leading Budget and Fiscal Reforms in Government
According to Governor Snyder, tax reforms and regulatory reforms are some of the issues that may be faced in leading budgeting and Fiscal reforms. However, it is evident that there may also be conflict of ideas as one attempt to create these reforms as indicated by Governor Snyder. Additionally, bankruptcy could also be another issue that may arise in the process of leading and fiscal budgets.
Inter-relationship between Government Budget Issues and the National Economy
From the discussion presented in the video, it is evident that there is a sense of relationship between the government budget and the national economy. To begin, some of the states i.e. Michigan, make development propositions, but have to request for the approval of the national government in order to proceed with undertaking these developments. However, this inter-relationship is quite minimal indicated by the different economic status of various states i.e. the parity between the economy of Indiana and other economies like Michigan.
A Government of Growth: Politics and Policy that Foster Innovation. (n.d.). Retrieved December 1, 2014, from https://www.youtube.com/watch?v=0Im6gY0eviA