1. Kriza plafona zaduživanja u Sjedinjenim Američkim Državama 2011. godine. Novi primjer djelotvornosti ili nagovještaj sloma američkog sustava "provjera i ravnoteža"?
- Author
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Čaić, Bojan
- Subjects
- *
FINANCIAL crises , *CHECKS & balances (Political science) , *FEDERAL budgets , *IDEOLOGY , *LEGISLATION - Abstract
In this paper the author considers constitutional implications of the most recent disagreement between the president and Congress of the United States of America regarding the federal budget and issues related to it, i.e. the debt ceiling. In the first part the author analyses the debt-ceiling crisis causes and political and financial developments that marked the third year of Barack Obama's presidential term of office. He continues his presentation with a detailed review of the budget process institutional framework, i.e. the Constitution and the budget related legislation. Furthermore, the author talks about the debt ceiling issues during the twentieth and in the beginning of the twenty-first century. Then the author discusses the Budget Control Act of 2011, whose content is a reflection of the last minute reached compromise between the president and Congress, thus avoiding the default. The legally introduced increase mechanism of the debt ceiling, and the newly founded Joint Select Committee, on Deficit Reduction, so-called Super committee, have been analyzed in details. Finally, in the last part of the paper, by predicting a new, even more difficult conflict between the president and Congress regarding the above mentioned issues and by pointing to bigger ideological discrepancies between the Republicans and the Democrats, the author explains his doubt in the possibility of efficient work of the American system of "checks and balances" in future. [ABSTRACT FROM AUTHOR]
- Published
- 2011