Itemize Regarding Books America's Fiscal Constitution: Its Triumph and Collapse
| Title | : | America's Fiscal Constitution: Its Triumph and Collapse |
| Author | : | Bill White |
| Book Format | : | Hardcover |
| Book Edition | : | Anniversary Edition |
| Pages | : | Pages: 576 pages |
| Published | : | April 1st 2014 by PublicAffairs (first published January 28th 2014) |
| Categories | : | Economics. Politics. Government. History |
Bill White
Hardcover | Pages: 576 pages Rating: 3.97 | 30 Users | 2 Reviews
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What would Washington, Jefferson, Madison, Lincoln, the Roosevelts, Truman, and Eisenhower have done about today's federal debt crisis?America's Fiscal Constitution tells the remarkable story of fiscal heroes who imposed clear limits on the use of federal debt, limits that for two centuries were part of an unwritten constitution. Those national leaders borrowed only for extraordinary purposes and relied on well-defined budget practices to balance federal spending and revenues.
That traditional fiscal constitution collapsed in 2001. Afterward—for the first time in history—federal elected officials cut taxes during war, funded permanent new programs entirely with debt, grew dependent on foreign creditors, and claimed that the economy could not thrive without routine federal borrowing.
For most of the nation's history, conservatives fought to restrain the growth of government by insisting that new programs be paid for with taxation, while progressives sought to preserve opportunities for people on the way up by balancing budgets. Virtually all mainstream politicians recognized that excessive debt could jeopardize private investment and national independence.
With original scholarship and the benefit of experience in finance and public service, Bill White dispels common budget myths and distills practical lessons from the nation's five previous spikes in debt. America's Fiscal Constitution offers an objective and hopeful guide for people trying to make sense of the nation's current, most severe, debt crisis and its impact on their lives and our future.
Be Specific About Books As America's Fiscal Constitution: Its Triumph and Collapse
| ISBN: | 1610393430 (ISBN13: 9781610393430) |
Rating Regarding Books America's Fiscal Constitution: Its Triumph and Collapse
Ratings: 3.97 From 30 Users | 2 ReviewsCriticize Regarding Books America's Fiscal Constitution: Its Triumph and Collapse
This is an outstanding book, for anyone who is interested in putting America's current fiscal crisis into an historical perspective. It is refreshingly non-partisan - Bill White, the author, is a Democratic former mayor of Houston and a former Deputy Secretary of Energy in the Clinton administration.The book lays out the complete history of America's "unwritten fiscal constitution," under which the norms of spending and debt were slowly established and confirmed over the lift of the republic.A bit of a slog at some points, but this should be required reading for any current or future politician. Considering Bill White is a Democrat veteran of the Clinton administration, this book was quite balanced and even-handed. His central point is simply that our bills must be paid. The balance between tax revenue and government services is good and necessary, but must take place within basic fiscal assumptions and practices that have governed American fiscal policy since the 18th century. That
A bit of a slog at some points, but this should be required reading for any current or future politician. Considering Bill White is a Democrat veteran of the Clinton administration, this book was quite balanced and even-handed. His central point is simply that our bills must be paid. The balance between tax revenue and government services is good and necessary, but must take place within basic fiscal assumptions and practices that have governed American fiscal policy since the 18th century. That
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