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.
The calls for cutting the federal governmentâs budget and perhaps even balancing it have continued and are likely to grow louder during this election year. Donât listen to them unless you want to see a fall in your net assets! Government deficits, by definition, create private sector wealth, while surpluses drain it. Itâs simple accounting.