America’s Fiscal Constitution: Its Triumph and Collapse

Amazon.com Price: $12.95 (as of 11/10/2019 02:10 PST- Details)

Categories: Accounting, Americas, Books, Business and Money, Economic Conditions, Economics, Education and Reference, Government and Business, Governmental, History, Political Economy, Politics and Government, Politics and Social Sciences, Processes and Infrastructure, Public Finance, Specific Topics, Subjects, United States

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America’s Fiscal Constitution: Its Triumph and Collapse (PublicAffairs, April 1, 2014) tells the remarkable story of federal leaders who imposed clear limits on the usage of federal debt. For just about two centuries those limits allowed the government to borrow for only four purposes. That traditional fiscal constitution collapsed in 2001, when federal elected officials broke the standard link between federal tax and spending policies. For the first time in history, the government cut taxes right through war, funded permanent new programs entirely with debt, and was dependent on foreign creditors.

With insights gained from original scholarship and an atypical breadth of experience in finance and government, Bill White distills practical lessons from the nation’s five previous spikes in debt. The usa’s Fiscal Constitution is an entertaining and objective guide for people looking to make sense of the present and most dangerous debt crisis.

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