Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

A History (and Future) of the Budget Process in the United StatesBounded by War

A History (and Future) of the Budget Process in the United States: Bounded by War [The budgetary reforms derived between the War of 1812 and the Civil War were, for the most part, born out of necessity or symbolism. External demands led to innovative ways to raise money to fund the federal government. However, the sinking fund continued to develop as one of the most important mechanisms for debt management. Congress also tried new methods in an attempt to distance the federal government’s finances from that of the economy following banking crises. Tariff policy extended beyond simply the need to raise revenue for the government and into protectionism, causing revenues to become much less predictable and creating a constituency for a growing government. This dynamic foreshadows the inevitability of the income tax.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A History (and Future) of the Budget Process in the United StatesBounded by War

Loading next page...
 
/lp/springer-journals/a-history-and-future-of-the-budget-process-in-the-united-states-sxWp8vtIv0
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
51 –76
DOI
10.1007/978-3-030-30959-6_3
Publisher site
See Chapter on Publisher Site

Abstract

[The budgetary reforms derived between the War of 1812 and the Civil War were, for the most part, born out of necessity or symbolism. External demands led to innovative ways to raise money to fund the federal government. However, the sinking fund continued to develop as one of the most important mechanisms for debt management. Congress also tried new methods in an attempt to distance the federal government’s finances from that of the economy following banking crises. Tariff policy extended beyond simply the need to raise revenue for the government and into protectionism, causing revenues to become much less predictable and creating a constituency for a growing government. This dynamic foreshadows the inevitability of the income tax.]

Published: Oct 26, 2019

There are no references for this article.