One of the functions of the state's economic policy is to support the country's financial stability.Before the 2009 crisis, this function was performed in the United States, special financial supervisory authorities having influence each in a separate state.Consolidated, comprehensive approach to this issue was the main topic of Obama's financial reform plan, which was announced in the summer of 2009.Bills of the financial value of continuing developments reforms were developed in 2010.
US financial system is considered to be an accurate reflection of the state system and power.As in many developed countries, it consists of the budgets of various levels and bodies exercising control over the revenue and expenditure part of them.
US financial system should perform standard three basic functions:
For the first responsible for public administration, the courts or the army.
Another feature is the redistribution of income between certain segments of the population and territories, and the prerequisite for this was precisely the US financial system.This function is favorably reflected on providing a comfortable social and economic climate in the country.
Finally, the third function was developed in the 30s of the 20th century, after the economic crisis.Its main purpose is to use the budget as a tool to stimulate economic growth and support the development of the state enterprise sector.The modern US financial system has shown that in the conditions of an efficient economy the state must play the role of a reliable and natural partner, not an opposing force to the business sector.
budgetary system of the USA has its qualitative features.So, it observed the principle of "fiscal federalism".In other words, there is an effective interaction of three systems of government - income, expenditure and relations between budgets.
system of government revenue consists of a set of tax and non-tax revenues, which operate in the country and will be able to ensure public spending, and here you must include methods of revenue collection and settlement of budget revenues in law.State system cost consists of preparing the draft budget with subsequent refinement in the executive branch, then the statement (decision) in Congress and compulsory control over its execution.
The above principle of "fiscal federalism" provides for each level of government's own sources of revenue, but at the same time there is the possibility of appropriations from the budget of a higher level if necessary.
The budget system is inextricably linked to US fiscal policy.This is reflected in the design and decision-making on carrying out economic activities with obligatory linking to the fiscal policy of the state.And vice versa - all budgetary actions are developed by specialists of the country and carried out in the direction of the state of overall economic strategy.
monetary system of the United States is part of the financial system and its regulation is characterized by the central bank of America and the Ministry of Finance.
In the 70s of the 20th century, the main task of the Federal Reserve System was to support the inflation rate at a low level, thus ensuring the stability of monetary circulation in the country and the strengthening of the dollar as a reserve currency.
Since 1981, the government began conducting strict regulation of monetary circulation by restricting the money supply and rising interest rates.Thanks to these measures has reduced the rate of inflation and the strengthening of the dollar increase in its value compared to other currencies.
