The National Debt And Government

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What We Owe

Author : Carlo Cottarelli
Publisher : Brookings Institution Press
ISBN 13 : 0815730691
Total Pages : 204 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis What We Owe by : Carlo Cottarelli

Download or read book What We Owe written by Carlo Cottarelli and published by Brookings Institution Press. This book was released on 2017-09-05 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro crisis, Japan's sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt. Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done—or even, in many cases, just how serious the debt problem is. As the former director of the International Monetary Fund's Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries. But Cottarelli also has some good news: reducing public debt often can be done without trauma and through moderate changes in spending habits that contribute to economic growth. His book focuses on positive remedies that countries can adopt to deal with their public debt, analyzing both the benefits and potential downsides to each approach, as well as suggesting which remedies might be preferable in particular situations. Too often, public debate about public debt is burdened by lies and myths. This book not only explains the basic facts about public debt but also aims to bring truth and reasoned nonpartisan analysis to the debate.

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.

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.

Freedom from National Debt

Author : Frank N. Newman
Publisher : Hillcrest Publishing Group
ISBN 13 : 1626520380
Total Pages : 105 pages
Book Rating : 4.6/5 (265 download)

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Book Synopsis Freedom from National Debt by : Frank N. Newman

Download or read book Freedom from National Debt written by Frank N. Newman and published by Hillcrest Publishing Group. This book was released on 2013-05-02 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: America is unjustly worried about "national debt," believing it can no longer do the many things that mark it as a great nation. Discussions of national undertakings including infrastructure repair, jobs programs, military modernization, and disease prevention - have all been stifled through fear of insolvency. America has convinced itself that it can no longer afford, as a nation, to do many of the productive things that it has done so well over its history. That's a great shame, because America remains a nation of tremendous resources in every sense, and the underlying assumptions about U.S. government financial instruments are not correct. America can never face the debt problems of nations like Greece, thanks to its fundamentally different financial system. This short book explains why such fears should not hold back America, and why even the expression "national debt" is neither meaningful nor appropriate for the United States.

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.

In Defense of Public Debt

Author : Barry Eichengreen
Publisher : Oxford University Press
ISBN 13 : 0197577911
Total Pages : 321 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis In Defense of Public Debt by : Barry Eichengreen

Download or read book In Defense of Public Debt written by Barry Eichengreen and published by Oxford University Press. This book was released on 2021-08-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.

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

The National Debt

Author : Jane R. Christensen
Publisher : Nova Biomedical Books
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The National Debt by : Jane R. Christensen

Download or read book The National Debt written by Jane R. Christensen and published by Nova Biomedical Books. This book was released on 2004 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing national debt seems to be of no interest in America at the present time. This is no doubt because its burden will be largely shifted forward to future generations who now are either not yet born or are only children. Many say let them worry about themselves! However, a vast national debt can also impact today's society and for that reason alone, should be an important issue for voters. This book is a primer on the national debt and the issues surrounding it. CONTENTS: Preface; The Federal Government Debt: Its Size and Economic Significance; The National Debt: Who Bears its Burden?; What if the National Debt Were Eliminated? Some Economic Consequences; The Retirement of the National Debt: Will it Increase the Economic Size of the Federal Government?; The Debt Limit: The Need for Increases; How Budget Surpluses Change Federal Debt; The Debt Limit: The Need to Raise it After Four Years of Surpluses; Paying Down the Federal Debt: A Discussion of Methods; Surpluses and Federal Debt; Basic Federal Budgeting Terminology; Index.

Pragmatic Capitalism

Author : Cullen Roche
Publisher : Macmillan
ISBN 13 : 1137279311
Total Pages : 252 pages
Book Rating : 4.1/5 (372 download)

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Book Synopsis Pragmatic Capitalism by : Cullen Roche

Download or read book Pragmatic Capitalism written by Cullen Roche and published by Macmillan. This book was released on 2014-07-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the importance of the global economy, and provides insights for getting the most out of investments to achieve financial success.

The Political Economy of Public Debt

Author : Richard M. Salsman
Publisher : Edward Elgar Publishing
ISBN 13 : 1785363387
Total Pages : 336 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis The Political Economy of Public Debt by : Richard M. Salsman

Download or read book The Political Economy of Public Debt written by Richard M. Salsman and published by Edward Elgar Publishing. This book was released on 2017-02-24 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: How have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? That important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike.

The National Debt

Author : Martin Slater
Publisher : Oxford University Press
ISBN 13 : 0190935049
Total Pages : pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis The National Debt by : Martin Slater

Download or read book The National Debt written by Martin Slater and published by Oxford University Press. This book was released on 2018-09-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: While it is central to today's politics, few people fully understand the National Debt and its role in shaping the course of British history. Without it, Britain would not have gained-and lost-two empires, nor won its wars against France and Germany. But Britain has also been molded by attempts to break free of the Debt, from postwar Keynesian economics to today's austerity. Martin Slater writes a vivid tale colored with some of the most dramatic incidents and personalities of Britain's past-from clashes between King and Parliament, American independence and war in Europe, to the abolition of slavery, the development of the Union and the role of leading figures such as Pitt, Gladstone, Adam Smith and Keynes. From medieval times to the 2008 financial crash and beyond, The National Debt explores the changing fortunes of the Debt, and so of Great Britain.

The National Debt and Government Credit

Author : Twentieth Century Fund. Committee on Government Credit
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The National Debt and Government Credit by : Twentieth Century Fund. Committee on Government Credit

Download or read book The National Debt and Government Credit written by Twentieth Century Fund. Committee on Government Credit and published by . This book was released on 1937 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:

White House Burning

Author : Simon Johnson
Publisher : Vintage
ISBN 13 : 0307907120
Total Pages : 369 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 2012-04-03 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: America is mired in debt—more than $30,000 for every man, woman, and child. Bitter fighting over deficits, taxes, and spending bedevils Washington, D.C., even as partisan gridlock has brought the government to the brink of default. Yet the more politicians on both sides of the aisle rant and the citizenry fumes, the more things seem to remain the same. In White House Burning, Simon Johnson and James Kwak—authors of the national best seller 13 Bankers and cofounders of The Baseline Scenario, a widely cited blog on economics and public policy—demystify the national debt, explaining whence it came and, even more important, what it means to you and to future generations. They tell the story of the Founding Fathers’ divisive struggles over taxes and spending. They chart the rise of the almighty dollar, which makes it easy for the United States to borrow money. They account for the debasement of our political system in the 1980s and 1990s, which produced today’s dysfunctional and impotent Congress. And they show how, if we persist on our current course, the national debt will harm ordinary Americans by reducing the number of jobs, lowering living standards, increasing inequality, and forcing a sudden and drastic reduction in the government services we now take for granted. But Johnson and Kwak also provide a clear and compelling vision for how our debt crisis can be solved while strengthening our economy and preserving the essential functions of government. They debunk the myth that such crucial programs as Social Security and Medicare must be slashed to the bone. White House Burning looks squarely at the burgeoning national debt and proposes to defuse its threat to our well-being without forcing struggling middle-class families and the elderly into poverty. Carefully researched and informed by the same compelling storytelling and lucid analysis as 13 Bankers, White House Burning is an invaluable guide to the central political and economic issue of our time. It is certain to provoke vigorous debate.

United States National Debt

Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 480 pages
Book Rating : 4.:/5 (661 download)

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Book Synopsis United States National Debt by : Fouad Sabry

Download or read book United States National Debt written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-03-30 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is National Debt of The United States The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt:"Debt held by the public" such as Treasury securities held by investors outside the federal government, including those held by individuals, corporations, the Federal Reserve, and foreign, state and local governments."Debt held by government accounts" or "intragovernmental debt" is non-marketable Treasury securities held in accounts of programs administered by the federal government, such as the Social Security Trust Fund. Debt held by government accounts represents the cumulative surpluses, including interest earnings, of various government programs that have been invested in Treasury securities. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: National debt of the United States Chapter 2: Social Security Trust Fund Chapter 3: Balanced budget amendment Chapter 4: Military budget of the United States Chapter 5: PAYGO Chapter 6: Fiscal policy of the United States Chapter 7: United States federal budget Chapter 8: 2007 United States federal budget Chapter 9: History of the United States public debt Chapter 10: Economic policy of the George W. Bush administration Chapter 11: 2009 United States federal budget Chapter 12: Financial position of the United States Chapter 13: 2011 United States federal budget Chapter 14: Expenditures in the United States federal budget Chapter 15: 2011 United States debt-ceiling crisis Chapter 16: Political debates about the United States federal budget Chapter 17: Deficit reduction in the United States Chapter 18: 2013 United States budget sequestration Chapter 19: Economic policy of the Donald Trump administration Chapter 20: 2018 United States federal budget Chapter 21: Economic policy of the Joe Biden administration (II) Answering the public top questions about national debt of the united states. (III) Real world examples for the usage of national debt of the united states in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of National Debt of The United States.

Financial Report of the United States Government

Author :
Publisher :
ISBN 13 :
Total Pages : 260 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 2009 with total page 260 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."--