Political Theory and Budget. Economics Coursework Paper

Political Theory and the Budget
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Political Theory and the Budget
The underlying ideological differences between conservatives and liberals mean that they can approach the development of the US budget differently. As informed by Magstadt (2017), conservatives are generally opposed to heavy taxes and big government. Therefore, given that heavy taxation and big government correspond to increased expenditure, it is deducible that a conservative budget would be characterized by limited spending. On the other hand, Magstadt (2017) points out that there is an inclination among liberals to favor government action in promoting equality in society. Therefore, a liberal’s approach would be characterized by high spending.
Magstadt (2017) notes that a majority of conservatives favor balanced budgets while liberals prefer deficit spending. Thus, the expenditure on a conservative’s budget would balance with the revenues. On the other hand, in a liberal’s budget, the spending would exceed revenues. With the favor of d...