America's fiscal constitution : its triumph and collapse /
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 centur...
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| Format: | eBook |
| Language: | English |
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New York :
PublicAffairs,
2014.
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| Online Access: | Connect to the full text of this electronic book |
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
- 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
- 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
- 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