{"product_id":"restoring-americas-fiscal-constitution-9781498553537","title":"Restoring Americas Fiscal Constitution","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eRestoring 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 cr\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003eMerrifield and Poulson’s message is clear, timely, and on point: well-chosen fiscal rules that constrain and impose discipline on democratic government budget policies are a sine qua non of enduring prosperity and social well-being. -- Marvin Phaup, George Washington University\u003cbr\u003eMerrifield and Poulson clearly show the fiscal challenges that lie ahead for the United States government, and drawing from experience—both good and bad—from Switzerland and other European countries, suggest a set of fiscal rules to limit deficit spending. Their ideas are both sensible and politically palatable. They provide a superb blueprint for fiscal reform. -- Randall G. Holcombe, DeVoe Moore Professor of Economics, Florida State University\u003cbr\u003eThe debt and growing obligations of the American welfare state are unsustainable and pose huge burdens on our children and grandchildren. Merrifield and Poulson carefully show how America can resolve our most pressing domestic problem in a realistic fashion. Essential reading for those seeking public policy solutions to the debt crisis. -- Richard Vedder, Ohio University\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eList of Figures List of Tables Acknowledgments Introduction Chapter 1: Theoretical Foundations for America’s Fiscal Constitution Chapter 2: A New Era of Fiscal Rules Chapter 3: Fiscal Rules in Euroland Revisited Chapter 4: Abandoning America’s Fiscal Constitution Chapter 5: A Nation Under-Water Chapter 6: Fiscal Rules in America: A Critique Chapter 7: New Fiscal Rules for America Chapter 8: Our Fiscal Future: A Road to Serfdom or Freedom? Chapter 9: A Roadmap to Restore America’s Fiscal Constitution Chapter 10: Reopening the Constitutional Road to a Balanced Budget Amendment Appendix A Appendix B References About the Authors","brand":"Lexington Books","offers":[{"title":"Default Title","offer_id":51040761479511,"sku":"9781498553537","price":85.5,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781498553537.jpg?v=1750947759","url":"https:\/\/bookcurl.com\/products\/restoring-americas-fiscal-constitution-9781498553537","provider":"Book Curl","version":"1.0","type":"link"}