Philosophical treatments of the general budget deficit between acceptance and rejection

Аннотация

The issue of the general budget deficit is a very VOLUME Vol.07 Issue01 2025 important issue, as it includes the actual and planned deficit by the government for a full economic cycle CITATION Bassam Malik Sarhan. (2025). Philosophical treatments of the general approved by the law issued by the government budget deficit between acceptance and rejection. The American Journal parliament. Perhaps the most prominent goal of the of Interdisciplinary Innovations and Research, 7(01), 6–13. financial deficit is for the government to appear before https://doi.org/10.37547/tajiir/Volume07Issue01-02 individuals as being able to address the problems suffered by projects and contractors with the COPYRIGHT government. Here, it has put itself before a real test that © 2025 Original content from this work may be used under the terms entails a moral obligation before individuals and a of the creative commons attributes 4.0 License. financial obligation before how to cover the deficit that may occur if the government does not address it. There are a set of tools through which the government can cover the deficit it has, including resorting to the International Monetary Fund or the World Bank (external borrowing) or through the central bank or government and private banks operating at home and abroad. Most developing countries resort to external borrowing, which is one of the most dangerous types of financing the budget deficit due to the obligations to pay interest on this debt, which burdens the general budget and makes it difficult for most of these countries to fulfill international obligations and thus puts themselves in an embarrassing position. On this basis, there are Others resort to local banks or the Central Bank to borrow to finance this deficit caused by the government’s promise to pay obligations to those entitled to them. Keywords: Philosophical treatments, general budget, acceptance and rejection. Introduction: Research Methodology 1- The importance of the research: The research gains its importance from the fact that it clarifies one of the general phenomena that most developed and developing countries suffer from, as this phenomenon The American Journal of Interdisciplinary Innovations 6 https://www.theamericanjournals.com/index.php/tajiir and Research The American Journal of Interdisciplinary Innovations and Research is considered in some economies as an undesirable continuous deficits in the general budget, resulting in an phenomenon if it is associated with some procedures, increase in government borrowing, and an increase in while this research focused on clarifying that the taxes on income and wealth, which weakened the phenomenon of budget deficit is sometimes an incentive for private investment. These ideas also called economic goal for the financial policy maker in the for reducing social subsidies that encouraged the economy, while some researchers see it as important phenomenon of unemployment, which contributed to if it aims to expand spending towards investment increasing stagflation. It became the state’s duty to projects. cover the shortage in local funding sources, which became difficult to match the continuous increases in 2- The research problem: The basic problem of the public spending, so the funding problem became one of research is based on the fact that most economic the most prominent problems facing developing literature has dealt with this phenomenon extensively, countries, which forced them to turn to foreign loans while some economic schools have ignored that are often conditional on complex political and government intervention and believe that economic economic conditions.The budget deficit is a balance can be achieved without government phenomenon that can be observed even in developed intervention, contrary to what others see that countries. Some of these countries have exceeded the government intervention in directing public spending acceptable percentage of the GDP, and this percentage is an economic goal. has developed over time. If the budget deficit leads to 3- The research objective: The research aims to market growth in the GDP at a rate greater than the growth of economic ideas in an easy way, so that researchers the deficit, this means that the increase in public have a sound vision based on the major economic expenditures has led to the development of the schools that have addressed the issue of the financial economy. Thus, the phenomenon of the general budget deficit. deficit becomes an acceptable phenomenon that 4- Research hypothesis: The research is based on the stimulates the economy. hypothesis that the phenomenon of financial deficit in The first section: Theoretical views on the general developing economies is often to cover the budget deficit government deficit to meet the demand for resources This section will review the theoretical views of the and for the operational aspect, and neglects the economic schools that dealt with the phenomenon of investment asp