Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility

Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility

by Andrew L. Yarrow
     
 

ISBN-10: 0300123531

ISBN-13: 9780300123531

Pub. Date: 05/28/2008

Publisher: Yale University Press

In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back.

The

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Overview

In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back.

The picture Yarrow paints should concern all Americans. Specifically, he brings to light how rising Medicare, Social Security, and other spending on one hand, and insufficient government revenues on the other, make a mockery of fiscal responsibility. Deficits and debt, Yarrow asserts, are crowding out spending on needed investments in science, environment, infrastructure, and other domestic discretionary programs and could severely harm our nation’s and our citizens’ future. But he makes clear that this does not have to be a doomsday scenario. If we act in a bipartisan fashion to restore fiscal health, our legacy to the next generation can be much more than trillions of dollars of IOUs.

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Product Details

ISBN-13:
9780300123531
Publisher:
Yale University Press
Publication date:
05/28/2008
Pages:
184
Sales rank:
979,536
Product dimensions:
6.20(w) x 9.30(h) x 0.80(d)

Table of Contents

Acknowledgments     ix
The View from Washington: Six Democrats and Six Republicans Talk About Debt     xi
What Are Deficits and Debt, and Why Are They Growing?     1
Balancing and Unbalancing Our Budget: A History of Government Debt in the United States     28
How Deficits Are Funded     48
How Deficits and Debt Affect America and You     58
The Potential Dangers of Doing Nothing, or Fiddling While Our Economy Goes Up in Smoke     70
The Politics of Deficits and Debt     81
What Can and Should Be Done to Reduce America's Deficits and Debt?     93
Concluding Thoughts: A Nation That Balances Its Books and a Government That Invests in America's Future     133
Notes     139
Index     166

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