Download or read book The Politics of Fiscal Responsibility written by Tonya E. Thornton and published by Westphalia Press. This book was released on 2021-01-05 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy challenges following the Great Recession forced members of the Organisation for Economic Co-operation and Development (OECD) to implement a set of economic policies to manage public debt. Most actions centered on major spending cuts and increasing taxes in an attempt to manage political and social fallout. Governments put fiscal austerity measures in place when their debt is so large that the inability to honor required service payments or the risk of total default to obligations becomes a significant possibility. Accountability is an iconic concept in public management, offering symbolic responsibility and reassurance. It is part of an ethical principal of transparency situated in administrative accountability. The resilience of national economies worldwide ultimately requires a balance between near-term growth and longer-term fiscal consolidation. Still, the reality of social stressors raises questions for politically sustainability. As the OECD member nations emerged from the fiscal fall out in 2008, question about whether democratic countries can take pro-active leadership before a crisis forces their hand emerged. This book is a collection of country chapters detailing their austerity response to such an interconnected and punctuating event. Tonya E. Thornton, PhD, is a Principal with and Founder of Delta Point Solutions, LLC, an interdisciplinary, social, policy, and administrative sciences consulting firm with expertise in community resiliency, emergency management, and public safety. She is also a subject matter expert in critical infrastructure for the U.S. Department of Defense. Dr. Thornton's work has been published in numerous peer-reviewed journals, and she is the editor of Managing Challenges for the Flint Water Crisis (2021). F. Stevens Redburn, PhD, is a lecturer, budget advisor, and expert authority on financial management, government performance, and public policy with over 25 years of experience as a senior government official in the U.S. Office of Management and Budget and the U.S. Department of Housing and Urban Development. As a participant in deliberations of the National Budgeting Roundtable since 2014, he has helped lead research on reform of the federal government's budget process. Internationally, he has consulted on budget processes World Bank and for the International Monetary Fund.

Download or read book American Politics and Fiscal Responsibility written by Martin L. Fleming and published by Venture Press (GA). This book was released on 1998-01-01 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

Download or read book Deficits Debt and Democracy written by Richard E. Wagner and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.

Download or read book Fiscal responsibility in constitutional democracy written by James M. Buchanan and published by Springer Science & Business Media. This book was released on 2013-03-13 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains the papers, along with the discussant's re marks, presented at a conference on 'Federal Fiscal Responsibility', held at The Homestead, Hot Springs, Virginia, on 26-27 March 1976. Additionally, we, the editors, have included an introductory essay which sets forth some of our background thoughts that in formed our organization of the conference and which also de scribes some of our reactions to the conference. This conference was sponsored by the Liberty Fund, Inc. of Indianapolis, Indiana, which incorporated this conference into its overall program directed toward the study of the ideals of a free society of responsible individuals. Related to this effort, the Liberty Fund also assisted in supporting research on Democracy in Deficit: The Political Legacy of Lord Keynes, by James M. Buchanan and Richard E. Wagner (New York: Academic Press, 1977). Both Democracy in Deficit and the conference were de signed to examine one important aspect of the Liberty Fund's general set of concerns, namely the' way in which political con siderations influence the macroeconomic aspects of budgetary policy, thereby, in turn, influencing the future of American liberty and prosperity. We are most grateful to the Liberty Fund for their efforts, and we are pleased that Enid Goodrich, William Fletcher, Neil McLeod, and Helen Schultz of the Liberty Fund were able to attend the conference.

Download or read book Balanced Budgets Fiscal Responsibility and The Constitution written by Richard Wagner and published by Cato Institute. This book was released on 1980-01-01 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this monograph, Professors Wagner and Tollison examine the important question of whether the United States should adopt a constitutional amendment requiring the government to balance its budget. Arguing that the government should be explicit and responsible about how much it spends and how it spends it, they determine that the balanced budget idea is fiscally sound and democratically necessary.

Download or read book America s Fiscal Constitution written by Bill White and published by PublicAffairs. This book was released on 2014-04-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: What would Washington, Jefferson, Madison, Lincoln, the Roosevelts, Truman, and Eisenhower have done about today's federal debt crisis? America's Fiscal Constitution tells the remarkable story of fiscal heroes who imposed clear limits on the use of federal debt, limits that for two centuries were part of an unwritten constitution. Those national leaders borrowed only for extraordinary purposes and relied on well-defined budget practices to balance federal spending and revenues. That traditional fiscal constitution collapsed in 2001. Afterward -- for the first time in history -- federal elected officials cut taxes during war, funded permanent new programs entirely with debt, grew dependent on foreign creditors, and claimed that the economy could not thrive without routine federal borrowing. For most of the nation's history, conservatives fought to restrain the growth of government by insisting that new programs be paid for with taxation, while progressives sought to preserve opportunities for people on the way up by balancing budgets. Virtually all mainstream politicians recognized that excessive debt could jeopardize private investment and national independence. With original scholarship and the benefit of experience in finance and public service, Bill White dispels common budget myths and distills practical lessons from the nation's five previous spikes in debt. America's Fiscal Constitution offers an objective and hopeful guide for people trying to make sense of the nation's current, most severe, debt crisis and its impact on their lives and our future.

Download or read book The Politics of Fiscal Policy Formation written by Lawrence C. Pierce and published by . This book was released on 1971 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Moment of Truth the Report of the National Commission on Fiscal Responsibility and Reform written by United States Government Debt Commission and published by Createspace Independent Pub. This book was released on 2012-03-26 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Painstakingly edited for an optimum eBook reading experience, including an active table of contents, this is the report of the Debt Commission of the United States Government. President Barack Obama commissioned a bipartisan panel to investigate the staggering National Debt and annual deficit of the United States Federal Government. The terrifying findings of that commission were published in this report in December 2010. It is titled "The Moment of Truth." Throughout our nation's history, Americans have found the courage to do right by our children's future. Deep down, every American knows we face a moment of truth once again. We cannot play games or put off hard choices any longer. Without regard to party, we have a patriotic duty to keep the promise of America to give our children and grandchildren a better life. Our challenge is clear and inescapable: America cannot be great if we go broke. Our businesses will not be able to grow and create jobs, and our workers will not be able to compete successfully for the jobs of the future without a plan to get this crushing debt burden off our backs. Ever since the economic downturn, families across the country have huddled around kitchen tables, making tough choices about what they hold most dear and what they can learn to live without. They expect and deserve their leaders to do the same. The American people are counting on us to put politics aside, pull together not pull apart, and agree on a plan to live within our means and make America strong for the long haul. As members of the National Commission on Fiscal Responsibility and Reform, we spent the past eight months studying the same cold, hard facts. Together, we have reached these unavoidable conclusions: The problem is real. The solution will be painful. There is no easy way out. Everything must be on the table. And Washington must lead. We come from different backgrounds, represent different regions, and belong to different parties, but we share a common belief that America's long-term fiscal gap is unsustainable and, if left unchecked, will see our children and grandchildren living in a poorer, weaker nation. In the words of Senator Tom Coburn, "We keep kicking the can down the road, and splashing the soup all over our grandchildren." Every modest sacrifice we refuse to make today only forces far greater sacrifices of hope and opportunity upon the next generation. Over the course of our deliberations, the urgency of our mission has become all the more apparent. The contagion of debt that began in Greece and continues to sweep through Europe shows us clearly that no economy will be immune. If the U.S. does not put its house in order, the reckoning will be sure and the devastation severe. The President and the leaders of both parties in both chambers of Congress asked us to address the nation's fiscal challenges in this decade and beyond. We have worked to offer an aggressive, fair, balanced, and bipartisan proposal - a proposal as serious as the problems we face. None of us likes every element of our plan, and each of us had to tolerate provisions we previously or presently oppose in order to reach a principled compromise. We were willing to put our differences aside to forge a plan because our nation will certainly be lost without one. We do not pretend to have all the answers. We offer our plan as the starting point for a serious national conversation in which every citizen has an interest and all should have a say. Our leaders have a responsibility to level with Americans about the choices we face, and to enlist the ingenuity and determination of the American people in rising to the challenge. We believe neither party can fix this problem on its own, and both parties have a responsibility to do their part. The American people are a long way ahead of the political system in recognizing that now is the time to act.

Download or read book Rationality Political Economy and Fiscal Responsibility written by Richard E. Wagner and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The continuing budget deficits and accumulating public debt that commonly plagues western democracies reflects a clash between two rationalities regarding human governance: one of private property and its conventions and one of common property and its procedural framework. The clashing of these rationalities creates forms of societal tectonics that play out through budgeting. Democratic budgeting creates a form of fiscal commons whose governance is subject to the tragic outcomes depicted by Garret Hardin (1968). To be sure, tragedy can be avoided as Elinor Ostrom (1990) explains, but only to the extent that the fiscal commons is governed in a manner consonant with Antonio De Viti de Marco's (1936) model of the cooperative state. While the tragedy of the commons that results from this tectonic clash is an inherent feature of democratic political economy, that tragedy can nonetheless be limited through reestablishing the conventions and institutions of a constitution of liberty.

Download or read book The Politics of Budget Control written by John A. Marini and published by Taylor & Francis. This book was released on 1992 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 1992. Routledge is an imprint of Taylor & Francis, an informa company.

Download or read book The Politics of Bad Ideas written by Bryan Jones and published by Routledge. This book was released on 2021-08-29 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly anticipated addition to the "Great Questions in Politics" series offers a provocative argument about the persistence of bad ideas in shaping American economic policy. The result of a collaboration between political scientist Bryan D. Jones and economist Walter Williams, The Politics of Bad Ideas is indispensable reading for any study of American government, public policy, or economic and budgetary analysis. The Politics of Bad Ideas examines why, over the last quarter century, bad economic ideas -- such as cutting taxes without cutting spending -- have become so influential in shaping government policies. Using in-depth research and trenchant political and economic analysis, the book explores why those bad ideas continue to survive despite overwhelming evidence that they in fact cause damage to the federal government's long-term fiscal stability and the American economy.

Download or read book The Value of Comparative Federalism written by Nico Steytler and published by Taylor & Francis. This book was released on 2020-11-12 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores new avenues of international research in comparative federal studies. It re-examines the conceptual tools and methodologies for understanding federal systems, and the role of comparative federalism in the dissemination and implementation of federal concepts. It highlights the influence of comparative federalism on constitution-making as well as constitutional reforms. The volume provides innovative and pragmatic perspectives from both the Global North and the Global South, with case studies drawn from established federations such as India, Canada, Australia, and Austria, and emerging federal systems such as Italy and South Africa. Advocating a combined approach that integrates modern and traditional theoretical routes with practical insights and contemporary analyses, it discusses the issues of multilevel elections and federal governance; coalition governments and multiparty democracy in parliamentary federal systems, such as India; minority empowerment; gender budgeting; self-governance; multinational federalism; unitary states; the nation-state; and degenerating federalism. It also breaks new ground by looking at federalism from a gender perspective and deals with tools for measuring fiscal responsibility, and a social and cultural index. A tribute to the intellectual legacy of Ronald L. Watts, this volume will be useful to scholars and researchers of political science, federalism, comparative federal studies, political studies, comparative politics, governance, public administration and law, development studies, South Asian studies, and Global South and North studies as well policymakers, international government bodies, research institutes, development experts, and other organisations working in the area.

Download or read book Chasing Fiscal Responsibility Through Balanced Budgets written by Christian Cox and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For decades, a central element of the Republican Party brand has been to call for fiscal responsibility through balanced budgets. We ask if the Republican Party has ever lived up to these ideological principles. Medicare Part D and paying for the recent Afghanistan and Iraq wars are striking examples of major increases in deficit spending enacted under Republican Party control, but how typical are they? In order to answer this question we study macro-level trends in the federal budget across multiple dimensions, and exploit CBO reports to study legislative behavior on specific bills. Evidence of Republican politicians behaving in ways that would suggest a systematic commitment to balanced budgets is mixed at best, with some evidence of decline across time.

Download or read book The Politics of Fiscal Policy written by John Daniel Williams and published by . This book was released on 1953 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Therapy written by William G. Gale and published by Oxford University Press. This book was released on 2019-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.

Download or read book A Theory of Fiscal Responsibility and Irresponsibility written by Marina Halac and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a political economy mechanism that explains the presence of fiscal regimes punctuated by crisis periods. Our model focuses on the interaction between successive deficit-biased governments subject to i.i.d. fiscal shocks. We show that the economy transitions between a fiscally responsible regime and a fiscally irresponsible regime, with transitions occurring during crises when fiscal needs are large. Under fiscal responsibility, governments limit their spending to avoid transitioning to fiscal irresponsibility. Under fiscal irresponsibility, governments spend excessively and precipitate crises that lead to the reinstatement of fiscal responsibility. Regime transitions can only occur if governments' deficit bias is large enough.