Deficit Government: Taxing and Spending in Modern America (American Ways) - Softcover

9781566630825: Deficit Government: Taxing and Spending in Modern America (American Ways)
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Since the advent of the New Deal, unbalanced budgets have become an almost permanent feature of American government-enlightened economic policy to some, a scourge to others. In Deficit Government, Iwan Morgan makes understandable the main trends of budget policy from the Roosevelt to the Clinton presidencies, and surveys the political and partisan debates surrounding the budget during these years. While focusing on federal expenditure and tax policies, Mr. Morgan explains why budget deficits have become the norm in modern American history, what impact they have had on the economy, and why the size of the deficit has grown so vast in recent years. He evaluates the importance of the budget as an instrument of economic management, including the development of Keynesian fiscal policy and the emergence of conservative doctrines that culminated in the supply-side approaches of the Reagan era. In all, readers who find their eyes glazing over at the thought of reading about budget policy will find Mr. Morgan's refreshing clarity a revelation.

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About the Author:
Iwan Morgan, who teaches American history at London Guildhall University, has also written Beyond the Liberal Consensus, America's Century, and Eisenhower versus “The Spenders.”
From Booklist:
Two thirds of the nation's first 140 federal budgets were balanced; in those years, war and depression caused most red ink. Since 1933, however, only eight budgets have been balanced. Morgan--principal politics and modern history lecturer at London Guildhall University and author of Beyond the Liberal Consensus (1994) and Ike Versus "The Spenders" (1990)--traces the ideological and institutional changes this history reflects, distinguishing forms of Keynesianism, for example, and finding roots of supply-side economics in earlier doctrines. Since the '30s, he notes, the federal government has taken on responsibilities--as a welfare state, an investor state, a national security state--unimaginable in earlier times. Over the past six decades, Morgan argues, policymakers generally managed to balance the budget's purposes" to pay for programs that the nation needs, to manage the economy, and to raise revenue in an equitable manner." Until the 1980s "Age of Excess," elected officials earn a passing grade for deficit control, because red-ink amounts were low relative to GNP, except when recessions hit. On balance, Morgan sees budget deficits as beneficial to the economy through the '70s; the unproductive deficits of recent years should not, he urges, "overshadow [the deficit government's] half-century of success." Mary Carroll

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  • PublisherIvan R. Dee
  • Publication date1995
  • ISBN 10 1566630827
  • ISBN 13 9781566630825
  • BindingPaperback
  • Number of pages223
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Book Description Paperback. Condition: new. Paperback. Since the advent of the New Deal, unbalanced budgets have become an almost permanent feature of American government-enlightened economic policy to some, a scourge to others. In Deficit Government, Iwan Morgan makes understandable the main trends of budget policy from the Roosevelt to the Clinton presidencies, and surveys the political and partisan debates surrounding the budget during these years. While focusing on federal expenditure and tax policies, Mr. Morgan explains why budget deficits have become the norm in modern American history, what impact they have had on the economy, and why the size of the deficit has grown so vast in recent years. He evaluates the importance of the budget as an instrument of economic management, including the development of Keynesian fiscal policy and the emergence of conservative doctrines that culminated in the supply-side approaches of the Reagan era. In all, readers who find their eyes glazing over at the thought of reading about budget policy will find Mr. Morgan's refreshing clarity a revelation. A refreshingly clear analysis of the main trends of budget policy from the Roosevelt to the Clinton presidencies, focusing on federal expenditure and tax policies. A fine short volume.it could not have come at a better time.Library Journal. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9781566630825

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