Publisher description for Taxes, spending, and the U.S. government's march toward bankruptcy / Daniel N. Shaviro.
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What's in a word? Plenty, when it's a word such as 'taxes', 'spending', and 'deficits' that dominates Washington political debate despite lacking coherent economic content. The United States is moving towards a possible catastrophic fiscal collapse. The country may not get there, but the risk is unmistakable and growing. The 'fiscal language'of taxes, spending, and deficits has played a huge and under-appreciated role in the decisions that have pushed the nation in this dangerous direction. This book proposes a better fiscal language for U.S. budget policy, rooted in economic fundamentals such as wealth distribution and resource allocation in lieu of 'taxes' and 'spending,' and in the use of multiple measures (such as the fiscal gap and generational accounting) to replace the U.S.'s misguided reliance on annual budge deficits.
Library of Congress subject headings for this publication:
Fiscal policy -- United States.
Taxation -- United States.
Budget deficits -- United States.