{"product_id":"9781498553544","title":"Restoring America's Fiscal Constitution","description":"Restoring America’s Fiscal Constitution estimates the potential impact of new fiscal rules on the U.S. economy over the next two decades. The new rules would require a cyclically balanced budget and an expenditure limit. The study shows that over the forecast period, the budget could be balanced and the total debt-to-GDP ratio reduced to the 60 percent tolerance level under this scheme, but this fiscal consolidation can only be achieved using a combination of fiscal reforms that go far beyond what has been proposed by Congress and the President. \u003cbr\u003e\u003cbr\u003eThe first chapter explores the theoretical foundations of a fiscal constitution. The orthodox public finance view of public debt is contrasted with a public choice perspective. This is followed by chapters surveying the new fiscal rules enacted in other countries to address debt issues. Several chapters provide a historical perspective on U.S. debt, including a critical appraisal of our fiscal rules. New laws are proposed to address the debt crisis, and a dynamic simulation model is used to estimate the impact of the proposed laws on the U.S. economy. The final section provides a roadmap for enacting the proposed constitutional and statutory fiscal rules.","brand":"Lexington Books","offers":[{"title":"Default Title","offer_id":47126943072496,"sku":"9781498553544","price":95.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781498553544_p0.jpg?v=1769896733","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781498553544","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}