Restoring America's Fiscal Constitution

Business & Finance, Economics, Public Finance, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
Cover of the book Restoring America's Fiscal Constitution by John D. Merrifield, Barry W. Poulson, Lexington Books
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: John D. Merrifield, Barry W. Poulson ISBN: 9781498553544
Publisher: Lexington Books Publication: September 28, 2017
Imprint: Lexington Books Language: English
Author: John D. Merrifield, Barry W. Poulson
ISBN: 9781498553544
Publisher: Lexington Books
Publication: September 28, 2017
Imprint: Lexington Books
Language: English

Restoring America’s Fiscal Constitution estimates the potential impact of new fiscal rules on the U.S. economy over the next two decades. The new rules would require a cyclically balanced budget and an expenditure limit. The study shows that over the forecast period, the budget could be balanced and the total debt-to-GDP ratio reduced to the 60 percent tolerance level under this scheme, but this fiscal consolidation can only be achieved using a combination of fiscal reforms that go far beyond what has been proposed by Congress and the President.

The first chapter explores the theoretical foundations of a fiscal constitution. The orthodox public finance view of public debt is contrasted with a public choice perspective. This is followed by chapters surveying the new fiscal rules enacted in other countries to address debt issues. Several chapters provide a historical perspective on U.S. debt, including a critical appraisal of our fiscal rules. New laws are proposed to address the debt crisis, and a dynamic simulation model is used to estimate the impact of the proposed laws on the U.S. economy. The final section provides a roadmap for enacting the proposed constitutional and statutory fiscal rules.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Restoring America’s Fiscal Constitution estimates the potential impact of new fiscal rules on the U.S. economy over the next two decades. The new rules would require a cyclically balanced budget and an expenditure limit. The study shows that over the forecast period, the budget could be balanced and the total debt-to-GDP ratio reduced to the 60 percent tolerance level under this scheme, but this fiscal consolidation can only be achieved using a combination of fiscal reforms that go far beyond what has been proposed by Congress and the President.

The first chapter explores the theoretical foundations of a fiscal constitution. The orthodox public finance view of public debt is contrasted with a public choice perspective. This is followed by chapters surveying the new fiscal rules enacted in other countries to address debt issues. Several chapters provide a historical perspective on U.S. debt, including a critical appraisal of our fiscal rules. New laws are proposed to address the debt crisis, and a dynamic simulation model is used to estimate the impact of the proposed laws on the U.S. economy. The final section provides a roadmap for enacting the proposed constitutional and statutory fiscal rules.

More books from Lexington Books

Cover of the book Richard J. Bernstein and the Expansion of American Philosophy by John D. Merrifield, Barry W. Poulson
Cover of the book The Garden of Reality by John D. Merrifield, Barry W. Poulson
Cover of the book From My Recent Past by John D. Merrifield, Barry W. Poulson
Cover of the book Asia's Educational Edge by John D. Merrifield, Barry W. Poulson
Cover of the book Banking on Sterling by John D. Merrifield, Barry W. Poulson
Cover of the book Food and Everyday Life by John D. Merrifield, Barry W. Poulson
Cover of the book The Nine-Eyed Agate by John D. Merrifield, Barry W. Poulson
Cover of the book Simple Lives, Cultural Complexity by John D. Merrifield, Barry W. Poulson
Cover of the book The Downsizing of Economics Professors by John D. Merrifield, Barry W. Poulson
Cover of the book The History of Futurism by John D. Merrifield, Barry W. Poulson
Cover of the book Imaging The Great Puerto Rican Family by John D. Merrifield, Barry W. Poulson
Cover of the book Engaging Civic Engagement by John D. Merrifield, Barry W. Poulson
Cover of the book Research Beyond Borders by John D. Merrifield, Barry W. Poulson
Cover of the book Challenges to Democratic Participation by John D. Merrifield, Barry W. Poulson
Cover of the book Sino-Japanese Transculturation by John D. Merrifield, Barry W. Poulson
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy