Financial Analytics: Science and Experience
 

The prospects of social programs financing in the USA

Vol. 11, Iss. 4, DECEMBER 2018

Received: 10 January 2018

Received in revised form: 12 February 2018

Accepted: 19 February 2018

Available online: 29 November 2018

Subject Heading: FINANCIAL INSTRUMENTS

JEL Classification: H1, H53

Pages: 401–414

https://doi.org/10.24891/fa.11.4.401

Lebedeva L.F. Institute for the U.S. and Canadian Studies RAS, Moscow, Russian Federation
Liudran@mail.ru

ORCID id: not available

Subject This paper examines the changes in the US social programs financing after 2016 President election, importance and consequences of these programs for low-income households.
Objectives The paper aims to study the role and position of social programs in the US Federal budget, their importance for different population groups and possible consequences of social costs reduction.
Methods The research uses a comparative analysis, economic-statistical and logical methods, and the systems approach.
Results The paper assesses the changes in social program budget financing for the next few years according to the US Federal budget. It shows the shifts in the budget funds expenditure according to the new budget priorities. It also reveals possible consequences of the changes for different population groups.
Conclusions and Relevance The paper talks of the reduction in financing of several government welfare programs. Reductions will affect most of low-income population and can contribute to intensification of the American society inequality. As for Russia, the research shows the key role of the government in social programs funding, their optimization, establishment of State guarantees higher than the subsistence level.

Keywords: social program, welfare, USA, government

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