America's fiscal constitution : its triumph and collapse /
| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
New York, NY :
PublicAffairs,
[2014]
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| Edition: | First edition. |
| Subjects: |
Table of Contents:
- A new nation and Democratic party limit Federal debt : 1789-1853. Debt gives rise to a new nation and political party ; Jefferson's party defines the limits on debt ; A revived Democratic party pays off the debt
- The tradition sustains a growing nation and the Republican party : 1854-1900. Republicans embrace the tradition ; Borrowing and taxing to restore the Union ; Shrinking debt and drifting parties
- Progressive reformers embrace the tradition : 1901-1940. Reformers redefine the parties and government ; Financing a world war and paying down debt ; Debt during the Great Depression
- Containing the burden of World War II debt while increasing commitments : 1941-1976. War and taxes ; Containing debt while funding defense, pensions, and highways ; Medical needs, war, and recession
- The erosion, revival, and collapse of the tradition : 1977-2013. Structural deficit : pressures for tax cuts ; The tradition survives, though its pillars erode ; Traditionalists battle back ; The tradition collapses ; The Great Recession and budget stalemate
- Restoring the tradition. Reviving traditional budget practices ; Balancing the national security budget ; Paying for medical care ; Growth, taxes, and the Federal Reserve ; Reforming the political parties
- 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.