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December 17, 2009
Graph of the Day for December 17, 2009
"The [New Zealand] government removed major regulations from the economy, including wage and price controls. The public sector was significantly downsized through spending cuts and privatizations, reducing the number of public employees by half and cutting spending by more than 7 percent of DGP."
"To lower debt, the government [of Canada] implemented a pay freeze on public employee salaries, eliminated 15 percent of the federal workforce, and made large reductions in subsidies to businesses, such as railways, agricultural industries, and cultural industries."
Source: Peterson-Pew Commission on Budget Reform.
Success Stories in Debt Reduction
Hoven's Index for December 17, 2009
Actual or projected US Federal debt in various years as percent of GDP:
Graph of the Day Archive.