Taxes, Spending, and the U.S. Government's March Towards Bankruptcy

By Daniel N. Shaviro

Book Overview

What's in a word? Plenty, when it's a word such as "taxes," "spending," or "deficits" that pervades Washington political debate despite lacking coherent economic content. The United States is moving toward a possible catastrophic fiscal collapse. The country may not get there, but the risk is unmistakable and growing. The "fiscal language" of taxes, spending, and deficits has played a huge and underappreciated role in the decisions that have pushed the nation in this dangerous direction. This book proposes a better fiscal language for U.S. budgetary policy, rooted in economic fundamentals such as wealth distribution and resource allocation in lieu of "taxes" and "spending" and in the use of multiple measures (such as the fiscal gap and generational accounting) to replace misguided reliance on annual budget deficits.

• Format: Hardcover
• Language: English
• ISBN: 0521869331
• ISBN13: 9780521869331
• Release Date: December 2006
• Publisher: Cambridge University Press
• Length: 262 Pages
• Weight: 1.07 lbs.
• Dimensions: 0.8" x 6.3" x 9.2"