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v t e

A government budget deficit is the amount by which some measure of government revenues falls short of some measure of government spending.

If a government is running a positive budget deficit, it is also said to be running a negative budget surplus (and conversely, a positive budget surplus is a negative budget deficit).

Primary deficit, total deficit, and debt[link]

The meaning of 'deficit' differs from that of 'debt', which is an accumulation of yearly deficits. Deficits occur when a government's expenditures exceed the revenue that it generates. The deficit can be measured with or without including the interest payments on the debt as expenditures.^[1]

The primary deficit is defined as the difference between current government spending on goods and services and total current revenue from all types of taxes net of transfer payments. The total deficit (which is often called the fiscal deficit or just the 'deficit') is the primary deficit plus interest payments on the debt.^[2]

Therefore, if Failed to parse (Missing texvc executable; please see math/README to configure.): t

is a timeframe, Failed to parse (Missing texvc executable; please see math/README to configure.): G_t
is government spending and Failed to parse (Missing texvc executable; please see math/README to configure.): T_t
is tax revenue for the respective timeframe, then the primary deficit is

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If Failed to parse (Missing texvc executable; please see math/README to configure.): D_{t-1}

is last year's debt, and Failed to parse (Missing texvc executable; please see math/README to configure.): r
is the interest rate, then the total deficit is

Failed to parse (Missing texvc executable; please see math/README to configure.): r D_{t-1} + G_t - T_t \,

Finally, this year's debt can be calculated from last year's debt and this year's total deficit, as follows:

Failed to parse (Missing texvc executable; please see math/README to configure.): {D_t} = (1+r)D_{t-1} + G_t - T_t \,

Economic trends can influence the growth or shrinkage of fiscal deficits in several ways. Increased levels of economic activity generally lead to higher tax revenues, while government expenditures often increase during economic downturns because of higher outlays for social insurance programs such as unemployment benefits. Changes in tax rates, tax enforcement policies, levels of social benefits, and other government policy decisions can also have major effects on public debt. For some countries, such as Norway, Russia, and members of the Organization of Petroleum Exporting Countries (OPEC), oil and gas receipts play a major role in public finances.

Inflation reduces the real value of accumulated debt. If investors anticipate future inflation, however, they will demand higher interest rates on government debt, making public borrowing more expensive.

Structural deficits, cyclical deficits, and the fiscal gap[link]

A government deficit can be thought of as consisting of two elements, structural and cyclical.

At the lowest point in the business cycle, there is a high level of unemployment. This means that tax revenues are low and expenditure (e.g. on social security) high. Conversely, at the peak of the cycle, unemployment is low, increasing tax revenue and decreasing social security spending. The additional borrowing required at the low point of the cycle is the cyclical deficit. By definition, the cyclical deficit will be entirely repaid by a cyclical surplus at the peak of the cycle.

The structural deficit is the deficit that remains across the business cycle, because the general level of government spending exceeds prevailing tax levels. The observed total budget deficit is equal to the sum of the structural deficit with the cyclical deficit or surplus.

Some economists have criticized the distinction between cyclical and structural deficits, contending that the business cycle is too difficult to measure to make cyclical analysis worthwhile.

The fiscal gap, a measure proposed by economists Alan Auerbach and Laurence Kotlikoff, measures the difference between government spending and revenues over the very long term, typically as a percentage of Gross Domestic Product. The fiscal gap can be interpreted as the percentage increase in revenues or reduction of expenditures necessary to balance spending and revenues in the long run. For example, a fiscal gap of 5% could be eliminated by an immediate and permanent 5% increase in taxes or cut in spending or some combination of both.^[3]

It includes not only the structural deficit at a given point in time, but also the difference between promised future government commitments, such as health and retirement spending, and planned future tax revenues. Since the elderly population is growing much faster than the young population in many countries, many economists argue that these countries have important fiscal gaps, beyond what can be seen from their deficits alone.

National budget deficits[link]

This article is outdated. Please update this article to reflect recent events or newly available information. Please see the talk page for more information. (November 2011)

Data are for 2004^[4]

United States deficit or surplus percentage 1901 to 2006.

Early deficits[link]

Before the invention of bonds, the deficit could only be financed with loans from private investors or other countries. A prominent example of this was the Rothschild dynasty in the late 18th and 19th century, though there were many earlier examples.

These loans became popular when private financiers had amassed enough capital to provide them, and when governments were no longer able to simply print money, with consequent inflation, to finance their spending.

However, large long-term loans had a high element of risk for the lender and consequently gave high interest rates. Governments later began to issue bonds that were payable to the bearer, rather than the original purchaser. This meant that someone who lent the state money could sell on the debt to someone else, reducing the risks involved and reducing the overall interest rates. Examples of this are British Consols and American Treasury bill bonds.

Deficit spending[link]

According to some economists, during recessions, the government can stimulate the economy by intentionally running a deficit.

Ricardian equivalence[link]

The Ricardian equivalence hypothesis, named after the English political economist and Member of Parliament David Ricardo, states that because households anticipate that current public deficit will be paid through future taxes, those households will accumulate savings now to offset those future taxes. If households acted in this way, a government would not be able to use tax cuts to stimulate the economy. The Ricardian equivalence result requires several assumptions. These include households acting as if they were infinite-lived dynasties as well as assumptions of no uncertainty and no liquidity constraints.

Also, for Ricardian equivalence to apply, the deficit spending would have to be permanent. In contrast, a one-time stimulus through deficit spending would suggest a lesser tax burden annually than the one-time deficit expenditure. Thus temporary deficit spending is still expansionary. Empirical evidence on Ricardian equivalence effects has been mixed.

Crowding Out Hypothesis[link]

The crowding out hypothesis is the assumption that when a government experiences a deficit, the choice to borrow to offset that deficit draws on the pool of resources available for investment and private investment gets crowded out. This crowding out effect is induced by changes in the interest rate. When the government wishes to borrow, their demand for credit increases and the interest rate, or price of credit, increases. This increase in the interest rate makes private investment more expensive as well and less of it is used.^[6]

Potential Policy Solutions for Unintended Deficits[link]

Increase Taxes or Reduce Government Spending[link]

If a reduction in a structural deficit is desired, either revenue must increase, spending must decrease, or both. Taxes may be increased for everyone/every entity across the board or lawmakers may decide to assign that tax burden to specific groups of people (higher-income individuals, businesses, etc.). Lawmakers may also decide to cut government spending.

Like with taxes, they could decide to cut the budgets every government agency/entity by the same percentage or they may decide to give a greater budget cut to specific agencies. Many, if not all, of these decisions made by lawmakers are based on political ideology, popularity with their electorate, or popularity with their donors.

Changes in Tax Code[link]

Similar to increasing taxes, changes can be made to the tax code that increases tax revenue. Closing tax loopholes and allowing fewer deductions are different from the act of increasing taxes but essentially have the same effect.

Reduce Debt Service Liability[link]

Every year, the federal government must pay debt service payments on their overall public debt. These payments include principal and interest payments. Occasionally, the federal government has the opportunity to refinance some of their public debt to afford them lower debt service payments. Doing this would allow the federal government to cut expenditures without cutting government spending.^[7]

See also[link]

• Balance of payments
• Balance of trade
• Current account
• Fiscal policy
• Generational accounting
• Government spending
• Government debt
• Government budget
• List of countries by current account balance
• Public finance
• Tax

US-specific

• Fiscal policy in the United States
• National debt by U.S. presidential terms
• Deficit hawk
• Starve-the-beast
• United States federal budget
• United States public debt
• Taxation in the United States

References[link]

External links[link]

Look up government budget deficit in Wiktionary, the free dictionary.

United States

• U.S. Government Net Saving - Graph of Historical U.S. Government Net Savings
• Death and Taxes: 2009 A graphical representation of the 2009 United States federal discretionary budget, including the public debt.
• United States - Deficit versus Savings rate from 1981 Historical graphical representation of the 12 month rolling Fiscal deficit versus the Savings rate of the United States. (since 1981)
• Government deficit calculator from AARP

Hong Kong

• Hong Kong Government Budget

Finland

• Statistics Finland - General government deficit and gross debt according to EMU criteria

This article has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page. (September 2011)

Anthony "Tony" Robbins
Tony Robbins in 2009
Born	(1960-02-29) February 29, 1960 (age 52) North Hollywood, California, United States
Occupation	Author Actor Professional speaker Peak Performance Coach
Years active	1978–present
Height	6 ft 7 in (2.01 m)[1][2]
Spouse	Becky Robbins (m. 1982–2001) «start: (1982)–end+1: (2002)»"Marriage: Becky Robbins to Tony Robbins" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Tony_Robbins) Sage Robbins (m. 2001) «start: (2001)»"Marriage: Sage Robbins to Tony Robbins" Location: (linkback:http://en-wiki.pop.wn.com/index.php/Tony_Robbins)

Anthony "Tony" Robbins (born February 29, 1960) is an American self-help author and motivational speaker. He became well known through his infomercials and self-help books, Unlimited Power: The New Science Of Personal Achievement and Awaken The Giant Within. Robbins writes about subjects such as health and energy, overcoming fears, persuasive communication, and enhancing relationships. Robbins began his career learning from many different motivational speakers, and promoted seminars for his personal mentor, Jim Rohn. He is deeply influenced by neuro-linguistic programming and a variety of philosophies.

Robbins's work has been featured in major media including Time, Newsweek, Fortune, Forbes, Life, GQ, Vanity Fair, Business Week, Tycoon and Success magazines, the CBS Evening News, NBC News, ABC's Prime Time Live, Fox News, CNN and A&E as well as newspapers, radio programs, and Internet media worldwide.^[3][4] Robbins has been mentioned or featured in 15 major motion pictures, including a cameo role a romantic comedy film Shallow Hal, starring Gwyneth Paltrow, Jack Black, and Jason Alexander.^[5] In 2007, he was named to Forbes magazine's "Celebrity 100" list.^[6]

Robbins' programs have reached over 4 million people from 100 countries around the world.^[7][8]

Robbins was ranked among the “Top 50 Business Intellectuals in the World” by Accenture’s Institute for Strategic Change.^[9] Robbins has spoken at Harvard Business School^[10] and was ranked by the school among the “Top 200 Business Gurus” (Harvard Business School Press, 2003).^[11][12][13] It was estimated by Forbes Magazine that Robbins earned approximately USD$30 million from his various business activities in 2007.^[14]

Early life[link]

Robbins was born Jay Mahavorick in North Hollywood, California, on February 29, 1960. He later moved to Azusa, California, and attended Glendora High School. Robbins says that he lived in a small low-rent apartment in the Los Angeles area during his early twenties and had dreamed of living in a mansion for years. In 1984, as his career began to take off, he bought the Del Mar Castle, designed by Richard Requa, for $1.7M. He sold the property in 1988 for $3.25M.^[15]

Career[link]

Robbins began his career promoting seminars for Jim Rohn. According to Robbins, Rohn taught him that "happiness and success in life are not the result of what we have, but rather of how we live. What we do with the things we have makes the biggest difference in the quality of life."^[16]

Later Robbins began his own work as a self-help coach. He taught neuro-linguistic programming (NLP) and Ericksonian Hypnosis after training with NLP co-founder John Grinder. In 1983, Robbins learned to firewalk from Tolly Burkan^[17] and began to incorporate it into his seminars.^[18][19]

Robbins promoted his services as a "peak performance coach" through his books and TV infomercials, gaining strong public recognition and lucrative sales. He conducts a large range of seminars and live events around the world dedicated to achieving greatness in his participants by unleashing their personal power and helping them align their values with their individual life goals.^[20] In 1997, Robbins began the Leadership Academy seminar, in which participants learn to "[c]reate an identity for them self as someone who can help 'anyone', no matter what his/her challenge may be."^[21] Robbins is a featured speaker on the seminar circuit sponsored by Learning Annex. Robbins appeared as a featured speaker at the 2007 Technology, Entertainment and Design (TED) conference. His talk is among the top ten TED talks viewed online.^[22]

Robbins is involved with the Robbins-Madanes Center for Strategic Intervention, which focuses on personal, family and organizational psychology, and claims to help people "find breakthrough strategies and solutions for overcoming the problems that confront us all."^[23]

Seminars[link]

Tony Robbins giving a talk at a Twitter conference in 2009

Robbins also conducts seminars, including his four-day Unleash the Power Within (UPW) seminar, Mastery University and Business Mastery.^{[24][25] [26]}

The UPW is also known as his firewalk seminar, during which the participants walk barefoot over hot coals at the end of the first evening. The aim of the seminar, demonstrated in the firewalk, is to illustrate that the main quality shared by those who achieve greatness is the ability to take action ("Personal Power").^[27]

Mastery University is promoted at the UPW seminar.^[24][25] Mastery University is composed of three seminars:

- Life Mastery, espouses Robbins' ideas about what makes for a healthy lifestyle, and has in the past featured guest lecturers including Deepak Chopra and John Gray.

- Wealth Mastery, espouses Robbins' ideas about what makes for a wealthy lifestyle.

- Date With Destiny, the only Mastery event at which Robbins is present for the entire event, is said to be designed to help participants align their values so that they are not in conflict, but rather are aligned with the participant's individual goals.^[28]

In 1997, Robbins initiated his Leadership Academy seminar,^[29] in which he invites participants to learn the skills he uses, with the stated goal of the program to enable the participant to "[c]reate an identity for yourself as someone who can help 'anyone', no matter what his/her challenge may be".^[21]

In 2009 Robbins created his Business Mastery program,^[26] designed to provide business leaders with tools to manage and grow their businesses. The seminar is conducted live by Robbins and features entrepreneur guest speakers. Past speakers have included Steve Wynn, CEO of Wynn Resorts,^[30] Peter Guber (Chairman & CEO of Mandalay Entertainment Group)^[31] and Tony Hsieh (CEO and Founder of Zappos.com).^[32][33]

Books[link]

Robbins has published two best-selling books, Unlimited Power and Awaken the Giant Within.

Unlimited Power, published in 1987, discusses the topics of health and energy, overcoming fears, persuasive communication, and enhancing relationships.^[34] One reviewer called the book "uplifting and idealistic" and referenced the "dynamic enthusiasm" of the book;"^[35] and another describes Robbins as “a persuasive communicator who spends more linage on step-by-step details of his recommendations than in self-boosterism."^[36] while another reviewer said it's "too wordy" and "reads like a transcript of a series of talks."^[37] Other reviewers dispute the book's originality, pointing to ideological similarities with Maxwell Maltz, Norman Vincent Peale, Napoleon Hill, and Dale Carnegie, all of whom Robbins acknowledges in his book.^[38] Some have criticized the chapter called "Energy: The Fuel of Excellence" which includes information on food combining, lymphology, and deep breathing to promote health. Robbins makes reference to the book Fit for Life and its authors, Harvey and Marilyn Diamond, whom he refers to as his "former partners".^[39] The National Council for Reliable Health Information wrote a critical review of the chapter and called his sources unreliable.^[40][41]

Awaken the Giant Within, published in 1992, was an expansion of his personal development techniques and strategies taught through a motivational self-help type approach. Robbins made the distinction between his techniques, coined as Neuro-Associative Conditioning as distinct from Neuro-Linguistic Programming because the trademarked difference is defined by the application of "conditioning" to a newly learned personal development technique and/or skill or strategy rather than "being programmed" and suggest-ably fixed once and for all by someone else who had more power than the individual to make a change.^[42]

Movie appearances and TV show[link]

Robbins has cameo roles in the 2001 movie Shallow Hal, the 1994 movie Reality Bites, three episodes of The Roseanne Show and an episode of The Sopranos.^[43] In July 2010, NBC debuted Breakthrough with Tony Robbins, a reality show that followed Robbins as he helped the show's participants face their personal challenges.^[44][45] NBC canceled the show, after airing two of the planned six episodes, due to low viewership of 2.8 million.^[46] In March 2012 the OWN Network picked the show up for another season beginning with the original first season set to re-run and thereafter leading directly into the new 2012 season.^[47]

In April 2012, Robbins began co-hosting "Oprah's Lifeclass" on the OWN Network ^[48]

Anthony Robbins Foundation[link]

In 1991, Robbins launched a charity, the Anthony Robbins Foundation.^[49] It is dedicated to empowering students and prisoners through food drives and learning programs based on his teachings.^[50] According to the official website, the foundation has "products and programs in more than 2,000 schools, 700 prisons, and 100,000 health and human service organizations."^[51] These programs have been written about and featured in many dozens of articles, appearing on various websites, like Cherish Our Children International^[52] and Harmony With No Limits.^[53] The independent charity watchdog, Charity Navigator, gives the foundation a rating of two out of four stars.^[54] The official website states that "the Foundation is committed to make a difference in the quality of life for children, the homeless, the prison population, and the elderly through its various programs". The foundation has subsequently led to the forming of "Basket Brigades" across the world that occur each Thanksgiving. Individuals and groups have joined together to assemble and deliver dinner baskets to needy families.^[49]

Lawsuits[link]

Federal Trade Commission: In May 1995, Robbins Research International (RRI) responded to Federal Trade Commission charges of misrepresentation of potential earnings to franchise investors. RRI and the FTC entered into a stipulated settlement agreement, in which RRI agreed to pay $221,260 (USD) in consumer redress. RRI did not admit guilt under the settlement.^[55]

Wade Cook: Financial seminar guru Wade Cook also sued Robbins for copyright infringement and plagiarism, alleging that Robbins used proprietary terms in his seminars and in his book Wall Street Money Machine. In 1998, a Tacoma, Washington, jury ordered Robbins to pay Cook US$650,900 in damages. The order to pay damages was temporarily withdrawn^[56] until 2000, when the ninth circuit court ruled that the trial judge has misinterpreted the statutes.

The verdict and damages were reinstated with a statement that "The Court found that U.S. District Court Judge, Jack Tanner, erred in "finding a conclusion contrary to the jury award" and sent instructions to reinstate the award. "This is a landmark decision by the 9th Circuit Court because of the high profile players and issues at stake" said lead attorney and Wade Cook General Counsel, Troy Romero. "The Court is telling individuals that, no matter who you are, the protection of copyrightable material will be preserved." Robbins was forced to pay the entire amount.^[57]

In 2001, Robbins filed a lawsuit against the Vancouver Sun newspaper, alleging defamation and libel. The judge determined the Vancouver Sun defamed Robbins when it called him a hypocrite. Awarding Robbins $20,000 in damages, the judge wrote "While damages are presumed, the plaintiff's failure to take the witness stand and to testify about his feelings and the impact of the defamation upon his reputation leaves the court somewhat in the dark about these matters". The court awarded Robbins his attorneys' fees and costs in addition to damages.^[58][59]

Celebrity status[link]

In his book Awaken the Giant Within, Robbins recalls meetings with various celebrities, saying he was a student of their success. People he mentioned were Nelson Mandela, Mikhail Gorbachev, Bill Clinton, Margaret Thatcher, François Mitterrand, and Princess Diana.^[60] In Robbins' infomercials, celebrity appearances were made by Fran Tarkenton, Pamela Anderson, Quincy Jones, Erin Brockovich and Anthony Hopkins. Robbins stated that they came without any compensation.^[61]

In 1994, President Bill Clinton invited Robbins, Marianne Williamson and Steven R. Covey to a meeting at Camp David. All parties "refused to divulge the substance of their meeting with the Clintons".^[62]

Personal life[link]

In 1984, Robbins and his ex-girlfriend, Liz Acosta, had a son, Jairek Robbins.^{[citation needed]}

In 1999, Robbins and his first wife Becky Robbins (née Jenkins) separated. Their divorce was finalized on June 21, 2001. Becky already had three children from two former marriages. Robbins considers them his own children.^[63]

In June 2001, Robbins married Bonnie Humphrey (now known as Sage Robbins)^[64]

Robbins alludes to his personal belief in God in Unlimited Power, giving the grand complexity of life as evidence of an intelligent designer.^[65]

See also[link]

	Biography portal
	Psychology portal

• Kaizen, the continuous improvement philosophy
• Self-help

References[link]

Publications[link]

Books[link]

• Robins, Anthony (1986). Unlimited Power: The New Science of Personal Achievement. New York: Simon & Schuster. pp. 448 pages. ISBN 0-684-84577-6. 
• Robbins, Anthony (1992). Awaken the Giant Within. New York: Simon & Schuster. pp. 544 pages. ISBN 0-671-79154-0. 
• Robbins, Anthony (1994). Giant Steps. New York: Fireside. pp. 416 pages. ISBN 0-671-89104-9. 
• Robbins, Anthony (1995). Notes from a Friend: A Quick and Simple Guide to Taking Control of Your Life. New York: Fireside. pp. 112 pages. ISBN 0-684-80056-X. 

CD/DVDs[link]

• Robbins, Anthony (2006). The Edge: The Power to Change Your Life Now. Megaforce / Nightingale-Con. pp. DVD. ASIN B000I5XD1K. 
• Robbins, Anthony (2002). Live with Passion!: Strategies for Creating a Compelling Future. Simon & Schuster. ISBN 0-7435-2521-3. 
• Robbins, Anthony (2001). Get The Edge (incl. Personal Power Classic Edition). Guthy-Renker. ASIN B000207IT4. 
• Robbins, Anthony (2000). Get The Edge. Guthy-Renker. ASIN B000BMASVS. 
• Robbins, Anthony (1998). Lessons in Mastery. Simon & Schuster Audio/Nightingale-Con. ISBN 0-7435-2515-9. 
• Robbins, Anthony (1996). Personal Power Classic Edition. Guthy-Renker. ASIN B000NE70MY. 

Other[link]

• Living Health
• The Time of Your Life
• Mastering Influence
• The Ultimate Relationship Program (Robbins-Madanes)
• Leadership In Times of Crisis (Robbins-Madanes)
• Reclaiming Your True Identity (Robbins-Madanes)
• Conquering Overwhelming Loss (Robbins-Madanes)
• Personal Training System
• Unleash The Power Within

External links[link]

Find more about Tony Robbins on Wikipedia's sister projects:
	Definitions and translations from Wiktionary
	Images and media from Commons
	Learning resources from Wikiversity
	News stories from Wikinews
	Quotations from Wikiquote
	Source texts from Wikisource
	Textbooks from Wikibooks

• Official website
• Antony Robbins Foundation, website
• Anthony Robbins at the Internet Movie Database
• Tony Robbins on Facebook