Deficit Government: Taxing and Spending in Modern America

Deficit Government: Taxing and Spending in Modern America

by Iwan W. Morgan
     
 

ISBN-10: 1566630827

ISBN-13: 9781566630825

Pub. Date: 04/28/1995

Publisher: Dee, Ivan R. Publisher

Since the advent of the New Deal, unbalanced budgets have become an almost permanent feature of American government - enlightened economic policy to some, a scourge to others. In Deficit Government, Iwan Morgan makes understandable the main trends of budget policy from the Roosevelt to the Clinton presidencies, and surveys the political and partisan debates…  See more details below

Overview

Since the advent of the New Deal, unbalanced budgets have become an almost permanent feature of American government - enlightened economic policy to some, a scourge to others. In Deficit Government, Iwan Morgan makes understandable the main trends of budget policy from the Roosevelt to the Clinton presidencies, and surveys the political and partisan debates surrounding the budget during those years. Focusing on federal expenditure and tax policies, Mr. Morgan explains why budget deficits have become the norm in modern American history, what impact they have had on the economy, and why the size of the deficit has grown so vast in recent years. He evaluates the budget as an instrument of economic management: FDR's hesitant acceptance of new Keynesian doctrines; efforts by Truman and Eisenhower to reconcile traditional budget-balancing with the modern concerns of budget policy; the use of deficits by Democratic administrations to boost economic growth in the 1960s; the effects of stagflation on fiscal policy in the 1970s; and the emergence of conservative doctrines that culminated in the supply-side approaches of the Reagan era. Deficit Government also examines those federal programs that over time have been the main beneficiaries of the public purse, focusing particularly on the competing demands of national security, social welfare, and public investment. Mr. Morgan shows how the tax burden has evolved and considers whether principles of progressivity and equity have been maintained. He concludes by noting efforts made in the 1990s to control an alarmingly expanding budget and looks at prospects for deficit control as the century draws to a close. In all, readers who find their eyes glazing over at the thought of reading about budget policy will find Mr. Morgan's refreshing clarity a revelation.

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Product Details

ISBN-13:
9781566630825
Publisher:
Dee, Ivan R. Publisher
Publication date:
04/28/1995
Series:
American Ways Series
Edition description:
New Edition
Pages:
223
Product dimensions:
5.44(w) x 8.14(h) x 0.69(d)

Table of Contents

Preface
1The Budget in Historical Perspective3
2The Making of the Modern Budget, 1933-194519
3The Age of Equilibrium, 1945-196055
4The Age of Activism, 1961-196886
5The Age of Uncertainty, 1969-1980115
6The Age of Excess, 1981-1988148
7Deficit Government: The Present, the Future - and the Past182
Recommended Reading203
Index207

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