Movement began in 2007 as conservative political movement within Republican Party. Named after 1773 Boston Tea Party protest against British taxation. Launched in 2009 after CNBC reporter Rick Santelli's Chicago Tea Party call. Gained prominence through 2010 wave election, helping Republicans gain 63 House seats
Aggregate demand represents total spending on final goods and services in an economy. It includes consumer spending, investment, corporate and government expenditures. Aggregate demand curve plots real output against price level
EU budget represents 2% of total public spending and complements national budgets. Budget spans seven years through Multiannual Financial Framework. EU budget was €1,082.5 billion in 2014-2020, €1,074.3 billion for 2021-2027
Crowding out occurs when government involvement affects market economy's supply or demand. Idea has been discussed since 18th century. Modern global capital markets challenge simple crowding out model
Open budgeting promotes fiscal discipline and effective public fund use. Three pillars: transparency, participation, and oversight. Various international standards guide open budgeting practices
Keynes first defined liquidity trap as low interest rates leading to cash hoarding. Consumers save despite low interest rates, preventing monetary policy effectiveness. Fear of economic troubles drives people to keep cash instead of investing