Free trade: Free trade, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). a
Deficit Reduction Act 2005 Law and Legal Definition. The Deficit Reduction Act of 2005 is a United States Act of Congress concerning the budget. It addresses deficit reductions ranging from education to housing and Medicare to Medicaid. It was signed into law by President Bush on February 8, 2006 after a closely divided Congress approved the legislation.
There is a serious question as to whether this can even be done considering the size and scope of federal spending. However, it is possible, and if we look at the size and scope of the government, military spending, entitlements, and tax reform, there are ten ways to eliminate our deficit by 2030. 1  1. Cut Foreign Aid in Half - $17 billion. 2  2. Eliminate Earmarks - $14 billion. 3  3. Cut 250,000 Government Contractors - $17 billion.