{"product_id":"restoring-americas-fiscal-constitution","title":"Restoring America's Fiscal Constitution","description":"\u003cp\u003eRestoring 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.\u003c\/p\u003e","brand":"Bloomsbury Publishing Plc","offers":[{"title":"Default Title","offer_id":54177689862488,"sku":null,"price":107.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781498553537_a8cbbc22-011a-4324-addd-e6f94b20825b.jpg?v=1765108817","url":"https:\/\/agendabookshop.com\/products\/restoring-americas-fiscal-constitution","provider":"Agenda Bookshop","version":"1.0","type":"link"}