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The National Debt: From FDR (1941) to Clinton (1996)
     

The National Debt: From FDR (1941) to Clinton (1996)

by Robert E. Kelly
 

America's debt—in the trillions—is serious business. Although contemporary press coverage hovers over the story of annual budgets and the associated deficits (and rare surpluses), not much attention is given to the overall national debt and even less to the interest spent serving it. "It's like worrying about the five dollars you borrowed last week and

Overview

America's debt—in the trillions—is serious business. Although contemporary press coverage hovers over the story of annual budgets and the associated deficits (and rare surpluses), not much attention is given to the overall national debt and even less to the interest spent serving it. "It's like worrying about the five dollars you borrowed last week and ignoring the mortgage you can't afford," says the author. And federal politicians are generally as impotent to control the debt as they are uninformed about its nature.

After tracing the fluctuations in the finances of the country from its beginning until 1940, the administrations of the next 11 presidents—Roosevelt through Clinton—and the annual budget deficits and the interest expenses that fed the national debt are examined in detail. The startup debt of each administration is shown in detail, then restated in 1983 and 1995 dollars. The change in debt through the end of the administration is then analyzed as to what areas of government incurred overspending and how much was overspent. Also discussed are major events or situations, foreign and domestic, that affected fiscal policies and fueled the urge to overspend.

Editorial Reviews

Choice
an excellent review of the growth of the welfare state and its impact on the federal debt. Well written and documented with numerous tables, this book makes a compelling case for limiting debt by reducing citizens' dependence on the government and supporting private sector growth...an excellent historical recitation of the benefits and costs of many tools of public finance
The Activist News
"every serious political activist should own a copy. A fascinating read, with everything you really need to know about the federal government in one compact place"
Booknews
America's debt was $5.2 trillion in 1996. This work traces the fluctuations in finances of the country from its beginning until 1940, and examines in depth the administrations of presidents Roosevelt through Clinton and the annual budget deficits and interest expenses that fed the national debt. The startup debt of each administration is shown in detail, then restated in 1983 and 1995 dollars. Change in debt through the end of the administration is analyzed as to what areas of government incurred overspending. The author is a writer and former consultant. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9780786406227
Publisher:
McFarland & Company, Incorporated Publishers
Publication date:
02/01/2000
Pages:
287
Product dimensions:
6.29(w) x 9.26(h) x 0.99(d)

Meet the Author

Retired CPA, corporate executive and management consultant Robert E. Kelly is an author and an award-winning journalist. He lives in Beverly, Massachusetts.

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