United States National Debt

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White House Burning

Author : Simon Johnson
Publisher : Vintage
ISBN 13 : 0307947645
Total Pages : 386 pages
Book Rating : 4.3/5 (79 download)

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Book Synopsis White House Burning by : Simon Johnson

Download or read book White House Burning written by Simon Johnson and published by Vintage. This book was released on 2013-02-12 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.

Understanding the National Debt

Author : Carl Lane
Publisher :
ISBN 13 : 9781594162664
Total Pages : 0 pages
Book Rating : 4.1/5 (626 download)

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Book Synopsis Understanding the National Debt by : Carl Lane

Download or read book Understanding the National Debt written by Carl Lane and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staggering United States debt has a direct impact on every American, yet few are aware of where the debt came from and how it affects their lives The United States has a debt problem--we owe more than $18 trillion while our gross domestic product, the value of all goods and services produced in America, is only $17.5 trillion. To pay down the debt, some recommend austerity, cutting federal expenditures. Others suggest increasing taxes, especially on the wealthiest Americans. In Understanding the National Debt: What Every American Needs to Know, economic historian Carl Lane urges that the national debt must be addressed in ways beyond program cuts or tax increase alternatives, but change can only occur when more Americans understand what constitutes our debt and the problems it causes. The gross national debt is composed of two elements: the public debt and "intragovernment holdings." The public debt consists of bonds, bills, and notes purchased by individuals, banks, insurance companies, hedge and retirement funds, foreign governments, and university endowments. Intragovernment holdings refers to money that the U.S. Treasury borrows from other parts of the government, principally Social Security and Medicare. This accounts for approximately a quarter of the gross national debt, but that is money that we owe to ourselves, not another entity. The more the government borrows, the less is available for private sector investment, creating a "squeeze" effect that inhibits economic growth. The most burdensome problem is the interest due each year on the debt. Every dollar spent on interest is a dollar less for other purposes. Those elements of the federal budget which are termed "discretionary" suffer. The mandatory elements of the budget--Social Security, Medicare, Medicaid, and the interest on the debt--must be provided for, but defense and national security, education, energy, infrastructure repair and development, and other needs wind up with less. By understanding the national debt we have an opportunity to address our real debt challenge--its principal and interest.

Financial Report of the United States Government

Author :
Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Financial Report of the United States Government by :

Download or read book Financial Report of the United States Government written by and published by . This book was released on 2007 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Who Really Owns the United States Inc. National Debt?

Author : Don Kilam
Publisher :
ISBN 13 :
Total Pages : 181 pages
Book Rating : 4.4/5 (935 download)

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Book Synopsis Who Really Owns the United States Inc. National Debt? by : Don Kilam

Download or read book Who Really Owns the United States Inc. National Debt? written by Don Kilam and published by . This book was released on 2021-10-10 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. national debt exceeded $28 trillion in 2021.1 One thing that many people may not know is that the Social Security Trust Fund owns a significant portion of that national debt. So how does that work and what does it mean? Inside we'll dive into who actually owns the U.S. national debt and how that impacts you.

Forgive Us Our Debts

Author : Andrew L. Yarrow
Publisher : Yale University Press
ISBN 13 : 0300145330
Total Pages : 185 pages
Book Rating : 4.3/5 (1 download)

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Book Synopsis Forgive Us Our Debts by : Andrew L. Yarrow

Download or read book Forgive Us Our Debts written by Andrew L. Yarrow and published by Yale University Press. This book was released on 2008-10-01 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back. The picture Yarrow paints should concern all Americans. Specifically, he brings to light how rising Medicare, Social Security, and other spending on one hand, and insufficient government revenues on the other, make a mockery of fiscal responsibility. Deficits and debt, Yarrow asserts, are crowding out spending on needed investments in science, environment, infrastructure, and other domestic discretionary programs and could severely harm our nations and our citizens future. But he makes clear that this does not have to be a doomsday scenario. If we act in a bipartisan fashion to restore fiscal health, our legacy to the next generation can be much more than trillions of dollars of IOUs.

The Deficit Myth

Author : Stephanie Kelton
Publisher : PublicAffairs
ISBN 13 : 1541736206
Total Pages : 311 pages
Book Rating : 4.5/5 (417 download)

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Book Synopsis The Deficit Myth by : Stephanie Kelton

Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

The $13 Trillion Question

Author : David Wessel
Publisher : Brookings Institution Press
ISBN 13 : 0815727062
Total Pages : 178 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis The $13 Trillion Question by : David Wessel

Download or read book The $13 Trillion Question written by David Wessel and published by Brookings Institution Press. This book was released on 2015-11-24 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: The underexamined art and science of managing the federal government's huge debt. Everyone talks about the size of the U.S. national debt, now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing—even though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors. What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the opposite—selling investors more long-term bonds. This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing.

Global Debt Database: Methodology and Sources

Author : Samba Mbaye
Publisher : International Monetary Fund
ISBN 13 : 1484353595
Total Pages : 52 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Global Debt Database: Methodology and Sources by : Samba Mbaye

Download or read book Global Debt Database: Methodology and Sources written by Samba Mbaye and published by International Monetary Fund. This book was released on 2018-05-14 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is the result of a multiyear investigative process that started with the October 2016 Fiscal Monitor, which pioneered the expansion of private debt series to a global sample. It differs from existing datasets in three major ways. First, it takes a fundamentally new approach to compiling historical data. Where most debt datasets either provide long series with a narrow and changing definition of debt or comprehensive debt concepts over a short period, the GDD adopts a multidimensional approach by offering multiple debt series with different coverages, thus ensuring consistency across time. Second, it more than doubles the cross-sectional dimension of existing private debt datasets. Finally, the integrity of the data has been checked through bilateral consultations with officials and IMF country desks of all countries in the sample, setting a higher data quality standard.

A Fiscal Cliff

Author : John Merrifield
Publisher : Cato Institute
ISBN 13 : 1948647893
Total Pages : 590 pages
Book Rating : 4.9/5 (486 download)

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Book Synopsis A Fiscal Cliff by : John Merrifield

Download or read book A Fiscal Cliff written by John Merrifield and published by Cato Institute. This book was released on 2020-10-20 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'A Fiscal Cliff' is precisely the right book for perilous fiscal times. Giants in economics and public policy offer a spirited defense of fiscal rules critically needed to protect our children and grandchildren from a bleak future." -Richard K. Vedder, Distinguished Professor of Economics Emeritus, Ohio University/p> The unsustainable, and still rapidly growing, U.S. federal government debt is a classic case of ‘'in denial.” Indeed, we are no closer to a solution to the debt crisis than we were ten years ago when the Simpson-Bowles Commission issued a report with recommendations to address the nation's debt crisis. The bipartisan Commission fell short of the supermajority vote required to submit their recommendations to Congress. President Trump declared a debt crisis, but didn't act like it. Various commissions and think tanks have made numerous recommendations. In 2019, a Congressional Committee was appointed to recommend budget process reforms, but that Committee could not agree on any recommendations to submit to Congress. While the dominant sentiment is that maybe if we ignore it, it will just go away, the debt crisis will not just vanish. A Fiscal Cliff: New Perspectives on the U.S. Debt Crisis is a timely addition to a critical policy discussion.

Blueprint for America

Author : George P. Shultz
Publisher : Hoover Press
ISBN 13 : 0817919961
Total Pages : 198 pages
Book Rating : 4.8/5 (179 download)

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Book Synopsis Blueprint for America by : George P. Shultz

Download or read book Blueprint for America written by George P. Shultz and published by Hoover Press. This book was released on 2016-08-01 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American ability to inspire—which we call exceptionalism—is not automatic. It takes continued efforts to be realized in a changing world. In this book, scholars at the Hoover Institution—professors, thinkers, and practitioners of global renown in their respective fields—offer a series of accessible policy ideas for civic, economic, and security architecture that would shore up the long-term foundations of American strengths. Blueprint for America takes a beyond-the-Beltway look at the basic policies that should be prioritized by the next president and Congress. Economists Michael Boskin, John Cogan, John Cochrane, and John Taylor address questions of entitlement reform, deficits, monetary reform, national debt, and regulatory and tax reform. Scott Atlas draws on his experience in the practice of medicine to tackle the Affordable Care Act and propose incentive-based health care reforms. Cochrane returns to reframe the hot-button political discourses on immigration and international trade. Eric Hanushek addresses the current performance--and reform--of K–12 education. Retired admiral James Ellis, retired general Jim Mattis, and Kori Schake offer their visions of how to restore America's national security through proactive and realistic agenda setting. Ellis follows with a rethink of energy security strategy in an era of abundance and James Goodby expounds on the country's practice of diplomacy in a time of turbulent transition. George Shultz draws from his experiences in government, industry, and academia to lead off each section with a range of clear-eyed observations on spending, human resources, foreign policy, and, in conclusion, the art of governance. The spirit of Blueprint for America is positive and grounded in first principles, offering ideas, diagnoses, solutions, and road maps for the long view.

No More National Debt

Author : Bill Still
Publisher :
ISBN 13 : 9780964048522
Total Pages : 270 pages
Book Rating : 4.0/5 (485 download)

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Book Synopsis No More National Debt by : Bill Still

Download or read book No More National Debt written by Bill Still and published by . This book was released on 2011 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign nations do not have to borrow their money into existence, yet the United States has been deceived into doing so since 1913. The compounding interest on this debt is now growing logarithmically and cannot be sustained. Unfortunately, we cannot just pay down the National Debt. All our money except for coins -- is created out of this debt. Under this debt money system, to reduce the debt is to reduce the national money. The only solution is to restructure our monetary system to forbid government borrowing. Fortunately, this is nothing new. The U.S. and other nations have done it before.The truth is that nations do not need to borrow. Nations can create. Creating the nation's money is the most important power of a sovereign country. The National Debt and the resulting interest payments are what is killing every economy on the planet, impacting the poorest nations with starvation. No More National Debt should be the battle cry for a new human rights movement.

Public Debt, Inequality, and Power

Author : Sandy Brian Hager
Publisher : Univ of California Press
ISBN 13 : 0520284666
Total Pages : 173 pages
Book Rating : 4.5/5 (22 download)

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Book Synopsis Public Debt, Inequality, and Power by : Sandy Brian Hager

Download or read book Public Debt, Inequality, and Power written by Sandy Brian Hager and published by Univ of California Press. This book was released on 2016-06-24 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction : public debt, inequality and power -- The spectacle of a highly centralized public debt -- The bondholding class resurgent -- Fiscal conflict : past and present -- Bonding domestic and foreign owners -- Who rules the debt state? -- Conclusion : informing democratic debate -- Appendix : accounting for the public debt

Is U. S. Government Debt Different?

Author : Donald S. Bernstein
Publisher :
ISBN 13 : 9780983646990
Total Pages : 316 pages
Book Rating : 4.6/5 (469 download)

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Book Synopsis Is U. S. Government Debt Different? by : Donald S. Bernstein

Download or read book Is U. S. Government Debt Different? written by Donald S. Bernstein and published by . This book was released on 2012-11-27 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Nation Wholly Free

Author : Carl Lane
Publisher : Westholme Publishing
ISBN 13 : 9781594162091
Total Pages : 0 pages
Book Rating : 4.1/5 (62 download)

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Book Synopsis A Nation Wholly Free by : Carl Lane

Download or read book A Nation Wholly Free written by Carl Lane and published by Westholme Publishing. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "When President James Monroe announced in his 1824 message to Congress that the [nation's] large public debt, [accumulated since the Revolution], would be extinguished on January 1, 1835, Congress crafted legislation to transform that prediction into reality. Yet John Quincy Adams, Monroe's successor, seemed not to share the commitment to debt freedom, resulting in the rise of opposition to his administration and his defeat for reelection in the bitter presidential campaign of 1828. The new president, Andrew Jackson, was thoroughly committed to debt freedom, and when it was achieved, it became the only time in American history when the country carried no national debt. Lane shows that the great and disparate issues that confronted Jackson, such as internal improvements, the 'war' against the Second Bank of the United States, and the crisis surrounding South Carolina's refusal to pay federal tariffs, become unified when debt freedom is understood as a core element of Jacksonian Democracy."--

Hamilton's Blessing

Author : John Steele Gordon
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0802717993
Total Pages : 238 pages
Book Rating : 4.8/5 (27 download)

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Book Synopsis Hamilton's Blessing by : John Steele Gordon

Download or read book Hamilton's Blessing written by John Steele Gordon and published by Bloomsbury Publishing USA. This book was released on 2010-04-05 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Reprint. Originally published in 1997."--T.p. verso.

The Budget and Economic Outlook

Author :
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis The Budget and Economic Outlook by :

Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Red Ink

Author : Gary R. Evans
Publisher : Morgan Kaufmann
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Red Ink by : Gary R. Evans

Download or read book Red Ink written by Gary R. Evans and published by Morgan Kaufmann. This book was released on 1997 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discussions and conversations about the U.S. federal budget are commonplace, filling living rooms, coffee shops, and talk radio. "Red Ink" offers an insightful, non-partisan explanation of the budget as a political document. The book examines the budget as well as discussing the current structure of the federal government.