[PDF] Deficits Debt And American Politics eBook

Author : Marc Allen Eisner
Publisher : Taylor & Francis
Page : 263 pages
File Size : 32,56 MB
Release : 2023-05-31
Category : Political Science
ISBN : 1000883752

GET BOOK

"For most of the history of the United States, periods of growing indebtedness—a product of wars and economic crises—were followed by reductions in the debt-to-GDP ratio." But why have the last several decades failed to follow this pattern, leaving the national debt at its highest level since World War II? In this groundbreaking new book, author Marc Allen Eisner, who has devoted most of his scholarly career to studying the evolution of the US political economy, explores the significant changes in the fiscal conditions of the United States during the postwar period, embedding the discussion in a broader historical context. He demonstrates that the national debt is in part a product of reduced revenues and the growing costs of the largest entitlement programs, but it also reflects a long series of shocks, including two wars, the financial crisis and Great Recession, and the COVID-19 pandemic. Deficits, Debt, and American Politics chronicles the history of the US debt in the postwar period, placed in the context of broader changes in the political economy and partisan politics. But it grounds this exploration in reader-friendly, chapter-length discussions of public finance, taxation, mandatory spending, and the budgetary process from a policy perspective. The volume concludes with a discussion of the challenges of comprehensive tax and program reforms in the current political climate. Deficits, Debt, and American Politics assumes little prior knowledge on the part of the reader, making it an ideal book for courses on public policy and political economy taught at both the upper-level undergraduate and graduate level. The material on public finance, long-term trends in taxation and spending, and the budgetary process, often relegated to descriptive texts, will be invaluable in courses engaging the deficit and debt.

Author : James Savage
Publisher : Cornell University Press
Page : 369 pages
File Size : 22,12 MB
Release : 2019-05-15
Category : Political Science
ISBN : 1501746227

GET BOOK

A topical issue but hardly a new one, the concern for balancing the federal budget has been a perennial source of conflict in American political life. In Balanced Budgets and American Politics, James Savage explores the causes and development of the nation's preoccupation with this issue. Savage argues that the American fascination with the idea of balancing the federal budget is deeply rooted and reflects more than a contemporary concern about interest rates, inflation, or even the outcome of recent budget battles. His analysis demonstrates the considerable influence that the principle budget balancing has had on politics and public policy from 1690 through Ronald Reagan's first term as president.

Author : Richard E. Wagner
Publisher : Edward Elgar Publishing
Page : 209 pages
File Size : 35,77 MB
Release : 2012-01-01
Category : Business & Economics
ISBN : 0857934600

GET BOOK

This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.

Author : Peter J. Tanous
Publisher : John Wiley & Sons
Page : 224 pages
File Size : 15,69 MB
Release : 2011-05-03
Category : Business & Economics
ISBN : 1118021517

GET BOOK

What investors can do to protect their investments in the next phase of the ongoing global economic collapse The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner. Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation Provides investment strategies, including alternative investments such as timber, farm land, and oil Offers a detailed proposal to get the United States out of the crisis Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.

Author : Stephanie Kelton
Publisher : PublicAffairs
Page : 311 pages
File Size : 25,63 MB
Release : 2020-06-09
Category : Business & Economics
ISBN : 1541736206

GET BOOK

A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Author : DENNIS S. IPPOLITO
Publisher : Routledge
Page : 224 pages
File Size : 15,47 MB
Release : 2022-02-23
Category :
ISBN : 9780367765064

GET BOOK

From the clashes between Federalists and Republicans in the 1790s until today, partisan battles over taxing, spending, and public debt have shaped American political development. These battles were formerly constrained by fiscal norms that mandated balanced budgets and low debt. In his Farewell Address, President George Washington counseled the nation to cherish public credit by using it as sparingly as possible. In the 1980s, however, tax cuts and spending increases created large structural deficits and much higher debt levels. With only a brief interruption in the late 1990s, deficit politics has been a mainstay ever since. Over this period, the Republican Party has passed large tax cuts but failed to retrench the large entitlement programs that continue to raise spending. Likewise, the Democratic Party has expanded the domestic role of government but has abandoned the broad-based taxation it supported in the 1990s. Funding their domestic agenda with matching revenues is now as unappealing for Democrats as entitlement cutbacks are for Republicans, contributing to the current stalemate of Republican tax policy, Democratic spending policy, and soaring deficits and debt. The economic risks this entails are serious, yet an end to the era of deficit politics is nowhere in sight.

Author : Daniel Shaviro
Publisher : University of Chicago Press
Page : 362 pages
File Size : 23,73 MB
Release : 1997-05
Category : Business & Economics
ISBN : 9780226751122

GET BOOK

Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal

Author : Gary R. Evans
Publisher : Morgan Kaufmann
Page : 328 pages
File Size : 25,83 MB
Release : 1997
Category : Business & Economics
ISBN :

GET BOOK

Discussions and conversations about the U.S. federal budget are commonplace, filling living rooms, coffee shops, and talk radio. "Red Ink" offers an insightful, non-partisan explanation of the budget as a political document. The book examines the budget as well as discussing the current structure of the federal government.

Author : Dennis S Ippolito
Publisher : Routledge
Page : 214 pages
File Size : 36,71 MB
Release : 2022-02-22
Category : Political Science
ISBN : 1000538990

GET BOOK

From the clashes between Federalists and Republicans in the 1790s until today, partisan battles over taxing, spending, and public debt have shaped American political development. These battles were formerly constrained by fiscal norms that mandated balanced budgets and low debt. In his Farewell Address, President George Washington counseled the nation to "cherish public credit" by using "it as sparingly as possible". In the 1980s, however, tax cuts and spending increases created large structural deficits and much higher debt levels. With only a brief interruption in the late 1990s, deficit politics has been a mainstay ever since. Over this period, the Republican Party has passed large tax cuts but failed to retrench the large entitlement programs that continue to raise spending. Likewise, the Democratic Party has expanded the domestic role of government but has abandoned the broad-based taxation it supported in the 1990s. Funding their domestic agenda with matching revenues is now as unappealing for Democrats as entitlement cutbacks are for Republicans, contributing to the current stalemate of Republican tax policy, Democratic spending policy, and soaring deficits and debt. The economic risks this entails are serious, yet an end to the era of deficit politics is nowhere in sight.

Author : Timothy J Penny
Publisher : Routledge
Page : 192 pages
File Size : 35,58 MB
Release : 2018-02-12
Category : Social Science
ISBN : 0429966997

GET BOOK

T he generational wars are about to begin: competing for entitlements, wrestling over taxes, dancing around the deficit. Today’s children and grandchildren are tomorrow’s taxpayers and social fabric. The authors of Payment Due contend that our current policies of federal overspending are setting those children up for economic disaster. Former Representative Tim Penny (D-MN) knows how volatile the politics of the situation are; he retired because he couldn’t locate in Congress at large the institutional will (or stomach) to deal with the issues squarely. Political scientist Steven Schier understands the way in which the politics work against economics to solve the problem. Together, they take us inside the Capitol corridors to show us the lobbying, arm-twisting, and pork barrel politicking that goes on to derail policies designed to reduce the federal deficit. We get to play the “Washington Monument game” along with the worst of the offenders and to see firsthand how three schools of deficit thought—the wolves, pussycats, and termites—approach the prospect of cutting back federal outlays and weaning the great middle class from its own welfare dependency. A hallmark of the book is its three-tiered set of long-term entitlement reform proposals, complete with careful documentation of the contribution each recommended item makes toward reducing the federal deficit (or at least slowing its increase). Along with suggested short-term plans, these proposals give students the opportunity to try to solve both short- and long-term problems. Students will appreciate the timeliness and relevance of the book’s argument to their generation’s future plight, and all readers will benefit from the clear presentation of complex economic concepts and arguments essential to understanding the federal deficit debate—and to confronting the political, social, and moral payments now coming due.