Fiscal policy of the United States half of what it was in 2004 and the budget appeared well on its way to balance once again. Fiscal policy is the application of taxation and government spending to influence economic performance. The main aim of adopting fiscal policy instruments is to promote sustainable growth in the economy and reduce the poverty levels within the community. In the past, fiscal policy instruments were used solve the economic crisis such as the great recession and during the financial crisis. They are effective in jump-starting growth, supporting the financial systems, and mitigating the economic crisis on the vulnerable groups especially the
Irish Fiscal Advisory Council in the United Kingdom (also formed after the financial crisis), and other equivalent members of the "Network of European Union Independent Fiscal Institutions" (which IFAC joined in September 2015). IFAC is structured as a Council of 5 members (one Chairperson) and a supporting analytical team of circa 6. The formal mandate of the Irish Fiscal Advisory Council (per IFAC website) is to: IFAC has been well received by Irish financial commentators and its publications are widely covered in the Irish media. The key mandated publications of the Irish Fiscal Advisory Council are: The Irish Fiscal Advisory Council has commenced an