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A History (and Future) of the Budget Process in the United StatesA New Era of Congressional Budgeting

A History (and Future) of the Budget Process in the United States: A New Era of Congressional... [Voters and politicians in the past have demanded some level of control over the deficit when it reaches a high-water mark if, for no other reason, to achieve some level of symbolic victory over the federal debt. However, the last forty years of history demonstrates how difficult it has become to reduce the deficit even during periods of economic growth. Presidents have commonly sought to stimulate the economy while the economy was growing only to be pulled back by a Congress controlled by the opposing party. However, when both Congress and the White House are controlled by the same party, fiscal tightening is mostly shelved. The Clinton era is the only recent connection with the neo-Keynesian budget policies of the post-World War II period.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A History (and Future) of the Budget Process in the United StatesA New Era of Congressional Budgeting

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2019
ISBN
978-3-030-30958-9
Pages
169 –204
DOI
10.1007/978-3-030-30959-6_7
Publisher site
See Chapter on Publisher Site

Abstract

[Voters and politicians in the past have demanded some level of control over the deficit when it reaches a high-water mark if, for no other reason, to achieve some level of symbolic victory over the federal debt. However, the last forty years of history demonstrates how difficult it has become to reduce the deficit even during periods of economic growth. Presidents have commonly sought to stimulate the economy while the economy was growing only to be pulled back by a Congress controlled by the opposing party. However, when both Congress and the White House are controlled by the same party, fiscal tightening is mostly shelved. The Clinton era is the only recent connection with the neo-Keynesian budget policies of the post-World War II period.]

Published: Oct 26, 2019

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