Deficit Hysteria: A Common Sense Look at America's Rush to Balance the Budget / Edition 1

Deficit Hysteria: A Common Sense Look at America's Rush to Balance the Budget / Edition 1

by Arthur Benavie
     
 

ISBN-10: 027596308X

ISBN-13: 9780275963088

Pub. Date: 09/30/1998

Publisher: ABC-CLIO, Incorporated

The political consensus in the United States today is that the nation avoid deficit spending. But as virtuous and unassailable as that goal sounds, it has fallacies and dangers. In a lucid, nontechnical writing style, Benavie shows that deficits can be either good or bad and explains how to tell the difference. Deficits, or government borrowing, can be beneficial

Overview

The political consensus in the United States today is that the nation avoid deficit spending. But as virtuous and unassailable as that goal sounds, it has fallacies and dangers. In a lucid, nontechnical writing style, Benavie shows that deficits can be either good or bad and explains how to tell the difference. Deficits, or government borrowing, can be beneficial or harmful depending on what the government does with the money. Preventing such borrowing, Benavie points out, would be comparable to preventing one's family from borrowing money to buy a house or to put a child through college.

Deficits can be beneficial to the nation's economic health in three main ways. When the economy slumps, a deficit, which is automatically created, helps to reduce the severity of the recession. When the economy is seriously depressed, boosting the deficit may be the only cure. Finally, deficits to support such investments as basic research, cleaning up toxic waste, and rebuilding inner cities are crucial to the economic health of future generations.

Product Details

ISBN-13:
9780275963088
Publisher:
ABC-CLIO, Incorporated
Publication date:
09/30/1998
Edition description:
New Edition
Pages:
166
Product dimensions:
6.14(w) x 9.21(h) x 0.44(d)
Lexile:
1380L (what's this?)

Table of Contents

Introduction

The Deficit: A Symbol of Evil in American Politics

Jobs, Inflation, and the Deficit

The Deficit and Our Future Standard of Living

The Rich, the Poor, and the Deficit

The Baby Boomers and the Future Deficit

Social Security, Medicare, and the Deficit

How Do European Countries Do It?

Goal '95: A Balanced Budget by 2002

Deficit Myths: What's True, What's False?

Questions and Answers

Index

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