# What Is Fiscal Policy?

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Government budgetary decisions.

- taxes
- how it spends those taxes
- how it manages its debts
- how it raises debt
- how it manages the repayment on those debts

-> impacts iterest rates
-> tax rates
-> growth rates

US Govt ~ 18% of GDP

Govts don't usually generate their own cash, it's generally moved around, though it can be moved to places with greater multipliers and tech.

Debt usually quoted
- Real terms
- Debt-to-GDP ratio