From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it.
With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.
White House Burning: Our National Debt and Why It Matters to You (Vintage)
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An excellent compilation of medium-scale ideas The promotional blurb for this book reads:=================But Johnson and Kwak also provide a clear and compelling vision for how our debt crisis can be solved while strengthening our economy and preserving the essential functions of government.=================Anyone who CAN provide a “clear and compelling vision” for solving this nation-threatening problem will surely become known as the great prophet of our generation. A dozen or more other eminent…
In depth non-partison look at our fiscal crisis White House Burning provides an excellent explanation and analysis of our nation’s fiscal crisis. The first three chapters provide a historical overview of our nations finances and examines some of the opposing views of our founding fathers on the benefeits of having a national debt. It goes on to describe US fiscal policy in a way that is interesting and will capture your attention. Yes, that’s right, the authors have some how managed to explain the nuances of US fiscal policy and its…