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 Contemporary Korean Political Thought in Search of a Post-Eurocentric Approach by John D. Merrifield, Barry W. Poulson
Cover of the book Art for Social Change and Cultural Awakening by John D. Merrifield, Barry W. Poulson
Cover of the book Health Communication and Breast Cancer among Black Women by John D. Merrifield, Barry W. Poulson
Cover of the book Global Economics by John D. Merrifield, Barry W. Poulson
Cover of the book Branding Latin America by John D. Merrifield, Barry W. Poulson
Cover of the book Methodological Approaches in Kurdish Studies by John D. Merrifield, Barry W. Poulson
Cover of the book Drawing a Line in the Sea by John D. Merrifield, Barry W. Poulson
Cover of the book Conceptual Tension by John D. Merrifield, Barry W. Poulson
Cover of the book What We Say, Who We Are by John D. Merrifield, Barry W. Poulson
Cover of the book Return From Exile by John D. Merrifield, Barry W. Poulson
Cover of the book Conflict Resolution in South Caucasus by John D. Merrifield, Barry W. Poulson
Cover of the book Identity and African American Men by John D. Merrifield, Barry W. Poulson
Cover of the book Defining Sport by John D. Merrifield, Barry W. Poulson
Cover of the book The Haitian Creole Language by John D. Merrifield, Barry W. Poulson
Cover of the book Major League Baseball Organizations 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