
Fiscal Therapy
A Rehab Program for America's Addiction to Debt
William G. Gale(Author)
Brookings Institution (Publisher)
Book
Hardback
175 pages
978-0-8157-2246-5 (ISBN)
Description
In just a few short years, federal budget deficits and the national debt rose from obscurity to become America's newest obsession. Unfortunately, while interest in the issue has grown, rigid ideology and an increasingly vitriolic and entrenched public dialogue have crowded out thoughtful discourse, preventing even basic education on budgets, the deficit, and the role of government.
Fiscal Therapy is an antidote to the demagoguery and half-truths. It explains the scope and nature of the deficit problem facing the United States and offers sensible,
balanced, workable solutions in clear language, drawing on national history, the experiences of other countries, and economic analysis. According to William G. Gale, senior fellow at the Brookings Institution and codirector of the Urban-Brookings Tax Policy Center, what is at stake in solving the deficit problem is the social contract that governs how Americans interact with their government.
Restructuring government and balancing the long-term budget are monumental tasks. While Americans need not and should not abandon their fundamental values, the required actions will be profound. No country makes such changes easily or quickly, but failure to act will ultimately guarantee long-term economic ruin.Gale proposes a set of policies to restore fiscal balance through shared sacrifice. His proposal would restructure taxes and spending programs, cut overall government outlays, raise revenues, and put the economy and the budget on sound footing.
Fiscal Therapy is an antidote to the demagoguery and half-truths. It explains the scope and nature of the deficit problem facing the United States and offers sensible,
balanced, workable solutions in clear language, drawing on national history, the experiences of other countries, and economic analysis. According to William G. Gale, senior fellow at the Brookings Institution and codirector of the Urban-Brookings Tax Policy Center, what is at stake in solving the deficit problem is the social contract that governs how Americans interact with their government.
Restructuring government and balancing the long-term budget are monumental tasks. While Americans need not and should not abandon their fundamental values, the required actions will be profound. No country makes such changes easily or quickly, but failure to act will ultimately guarantee long-term economic ruin.Gale proposes a set of policies to restore fiscal balance through shared sacrifice. His proposal would restructure taxes and spending programs, cut overall government outlays, raise revenues, and put the economy and the budget on sound footing.
More details
Language
English
Place of publication
United States
Publishing group
Bloomsbury Publishing Plc
Target group
Professional and scholarly
ISBN-13
978-0-8157-2246-5 (9780815722465)
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Schweitzer Classification
Person
William G. Gale is a senior fellow in the Economic Studies program at the Brookings Institution, where he holds the Arjay and Frances Miller Chair in Federal Economic Policy. He also is codirector of the Urban-Brookings Tax Policy Center and director of the Retirement Security Project at Brookings. Before joining Brookings he taught economics at UCLA and served as senior economist on President George H.W. Bush Council of Economic Advisers. He has testified in front of the U.S. Congress on budgetary matters and is a frequent media contributor. Gale has also written extensively in policy-related publications and newspapers, with op-eds on CNN.com, the Financial Times, Los Angeles Times, New York Times, Wall Street Journal, and Washington Post.