rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: America's fiscal constitution
    sub title: its triumph and collapse
  name:
    name part: White, William H.
    name part: 1954-
    role:
      role term: creator
  name:
    name part: Ebook Library
  type of resource: text
  genre: Electronic books.
  origin info:
    place:
      place term: nyu
    date issued: 2014
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: remote
    extent: 1 online resource (x, 557 pages)
  abstract: 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.
  table of contents: 1. The American Fiscal Tradition; PART I: A NEW NATION AND DEMOCRATIC PARTY LIMIT FEDERAL DEBT: 1789-1853; 2. Debt Gives Rise to a New Nation and Political Party; 3. Jefferson's Party Defines the Limits on Debt; 4. A Revived Democratic Party Pays Off the Debt; PART II: THE TRADITION SUSTAINS A GROWING NATION AND THE REPUBLICAN PARTY: 1854-1900; 5. Republicans Embrace the Tradition; 6. Borrowing and Taxing to Restore the Union; 7. Shrinking Debt and Drifting Parties; PART III: PROGRESSIVE REFORMERS EMBRACE THE TRADITION: 1901-1940
  table of contents: 8. Reformers Redefine the Parties and the Government; 9. Financing a World War and Paying Down Debt; 10. Debt During the Great Depression; PART IV: CONTAINING THE BURDEN OF WORLD WAR II DEBT WHILE INCREASING COMMITMENTS: 1941-1976; 11. War and Taxes; 12. Containing Debt While Funding Defense, Pensions, and Highways; 13. Medical Needs, War, and Recession; PART V: THE EROSION, REVIVAL, AND COLLAPSE OF THE TRADITION: 1977-2013; 14. Structural Deficit: Pressures for Tax Cuts and a Revived Cold War; 15. The Tradition Survives, Though Its Pillars Erode; 16. Traditionalists Battle Back
  table of contents: 17. The Tradition Collapses; 18. The Great Recession and Budget Stalemate; PART VI: RESTORING THE TRADITION; 19. Reviving Traditional Budget Practices; 20. Balancing the National Security Budget; 21. Paying for Medical Care; 22. Growth, Taxes, and the Federal Reserve; 23. Reforming the Political Parties; Acknowledgments; Notes; Bibliography; APPENDICES; A. US Treasury Debt, 1790-2013; B. Unmonetized Debt Compared to National Income and Tax Revenues, 1790-2012; C. Federal Funds Revenues, Outlays, and Surplus/Deficit, 1789-2013; D. Foreign Holdings of US Debt, 1976-2011
  table of contents: E. US State and Local Debt, 1970-2009; F. Trade Balances, 1790-2010; G. Corporate Income Tax: Effective Rates and Share of National Income, 1960-2009; H. Personal Income Tax: Effective Rates and Share of National Income, 1950-2010; Index; About the Author
  note: Bill White.
  note: Electronic resource.
  subject:
    topic: Constitution
  subject:
    topic: Constitutional history -- United States
  subject:
    topic: Federal government -- United States -- History
  subject:
    topic: Federal government -- United States
  subject:
    topic: Debts, Public
    geographic: United States
    topic: History
  subject:
    topic: Budget
    geographic: United States
    topic: History
  subject:
    topic: Fiscal policy
    geographic: United States
  subject:
    geographic: United States
    topic: Appropriations and expenditures
  subject:
    geographic: United States
    topic: Economic policy
    temporal: 2009-
  classification: KF4600
  classification: 342.73042
  related item:
    title info:
      title: America's Fiscal Constitution : Its Triumph and Collapse
    name:
      name part: White, Bill
    origin info:
      publisher: New York : PublicAffairs,c2014
  identifier: 9781610393447 (electronic bk.)
  identifier: https://ebookcentral.proquest.com/lib/tamucs/detail.action
  record info:
    record content source: EBLCP
    record creation date: 140315
    record change date: 20250816223355.5
    record identifier: in00003479910
    language of cataloging:
      language term: eng