\n<\/p>\n

<\/p>\n

THIS IS ONLY AN INTERPRETATION, FIVE SENTENCES AND A QUESTION IS ALL I NEED. TELL ME YOUR THOUGHTS<\/strong>, HAVE REFERENCES<\/p>\n

Balanced
\nbudget which means a budget in which revenues are equal to expenditures
\n(Mikesell, 2014). Thus, neither a budget deficit nor a budget surplus
\nexists as the accounts balance. I stand for a balanced budget in a state
\nor nation as this helps keep government expenditure in check and
\naccountable. This fosters economic stability in a system and encourages
\nthe government and its agencies to be proactive in generating revenue
\nfor the state or nation, manage and limit unbudgeted spending and
\nborrowing. Where a government intends to increase its spending, it has
\nto source for avenues to increase and boost its revenue internally.<\/p>\n

Where
\na balanced budget is not practised, the government borrows excessively
\nfrom international community and plunge the country (Nigeria) into debt
\nlasting more than 20 years to redeem. However, where a balanced budget
\nis practised high priority areas are identified and revenue allocated to
\nthose priorities (Mucha, 2012). The government is stopped from
\noverspending, looting is reduced as there will not even be enough to
\nmeet up with the priorities, and projects will be within the budget for
\nthat financial year. Although there are also recurrent deficits in a
\nfinancial year, provision of the deficits will be considered within the
\nbudget. The essence is to control unnecessary national spending which
\nleads to debt \u2013 increase in debt equals high taxes to citizens, high
\ninterest, lack of bargaining power, and high inflation rate which
\nNigeria suffers now.<\/p>\n

In
\nNigeria presently I am of the view that expenditure should be reduced
\nin other to accommodate her recurrent deficits of previous years. If
\nthis has been practiced over time Nigeria would have had reserves for
\nessential expenditures, not be indebted to international nations and not
\nplunge further into recession which has crippled the economy. To cut
\nspending, the culture of unbudgeted expenditure has to gradually change,
\nthe government has to look inwards and reduce its spending by removing
\nunnecessary recurrent of office equipments, yearly furnishing of same
\nlegislative apartments and offices in the budget.<\/p>\n

The
\ngains to a balanced budget are controlled expenditures, efforts
\nchanneled to increase in revenue, reduction in debt accumulation while
\nlosses may be that during emergency situations such as natural disasters
\nor war etc., a government may not have available accessible funds to
\nfully meet up with the needs of her citizens. Although, concerned
\nprivate organisations, non profit organisations, and the international
\ncommunity may lend a helping hand in situations as this when they arise.<\/p>\n

References:<\/p>\n

Mikesell,
\nJ. L. (2014). Fiscal administration: Analysis and applications for the
\npublic sector (9th ed.). Boston, MA: Wadsworth.<\/p>\n

Mucha, M. J. (2012). Budgeting for Outcomes: Key Findings from GFOA Research. Government Finance Officers Association<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THIS IS ONLY AN INTERPRETATION, FIVE SENTENCES AND A QUESTION IS ALL I NEED. TELL ME YOUR THOUGHTS, HAVE REFERENCES Balanced budget which means a budget in which revenues are equal to expenditures (Mikesell, 2014). Thus, neither a budget deficit nor a budget surplus exists as the accounts balance. I stand for a balanced budget […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/266083"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=266083"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/266083\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=266083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=266083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=266083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}