Introduction. Implementation of economic and regulatory functions of the governmental entrepreneurship determines the trajectory and quality of economic growth, the dynamics of the economic situation. Theoretical analysis. Held in the article the comparative analysis of the economies of the USA and Russia exhibited exceptional role of the government in the reform of the economic mechanism and the formation of volatile economic environment. Medium-rhythm of the cyclical fluctuations of the economic situation the US last decades was characterized by three consecutive financial bubbles: in 1986, the burst of the bubble in real estate, in 2000, the burst of the financial bubble in the market of high-tech companies in 2008 burst superheated the US mortgage market, triggering a global economic crisis. The study of macroeconomic dynamics of Russia in 1991–2009 and 1990s shows that our economy as well as in the American, the processes of deregulation, which was accompanied by the strengthening of state entrepreneurship. Similar and chronological framework of the cyclical fluctuations in economic conditions, with the crises of 1998 and 2007, Like the American, Russian cycles had the medium term. But, if the U.S. economy evolutionary passed from one stage of economic development to another in the form of inflation and collapse of financial bubbles, the Russian economy has evolved in a mode of revolutionary destruction of the socio-economic system. Conclusion. Changes the amount of resources gathered in the turnover of the governmental entrepreneurship, was accompanied by changes in economic legislation, the functioning of the regulators of the market equilibrium, the fluctuations of the economies of the USA and the Russian Federation.