Fiscal Policy as a Tool for Implementing US Strategic Priorities

Abstract

The relevance of the article is due to the transitional period of the development of the world community in modern conditions, when Western states are making all possible, often illegitimate attempts to maintain their dominance in the world. The instrument for implementing the strategic plans of Western countries in the long term is mainly the US federal budget as a means of implementing strategic priorities, regardless of which party wins the US presidential election.

The subject of the article is the system of financial and economic relations in the United States, aimed at implementing the strategic priorities of U.S. economic policy for a long time. In modern conditions, this is the reindustrialization of the national economy along with the fulfillment of tasks to ensure social support and protection of the population, as well as to maintain dominance in the world community, and at any cost, including by rewriting the so-called nowhere approved rules of the world order and the formation of coalitions of countries that share the political views of American politicians and economists who advocate planting a «moral» economy in the world and promoting its values.

The article analyzes the strategic economic priorities of D. Trump’s policy and the last budget message of President J. Biden in 2023, identifies elements of continuity and reflects the specifics of the reindustrialization of America.

Conclusions are drawn about the continued growth of the US federal budget deficit, indicating the continuation of the implementation of the “life on loan” model in the economy, which is based on the dollar performing the functions of the world currency, a means of settlement and accumulation.