In this timely book Irene Rubin focuses on how government tried and eventually succeeded in balancing the U.S. federal budget in 1998. With characteristic insight and a lively narrative, Rubin describes the successive efforts of Congress and the administration over seventeen years to shape a process that would encourage balance, as well as the reactions of federal agencies to the pressure.
Chapter 1: 1981–98: Balancing the Budget: What Have We Learned?
1981–98: Balancing the Budget: What Have We Learned?
DEFICITS WERE A CHARACTERISTIC of U.S. budgeting for many years. As long as they were moderate in size, they caused no particular alarm or embarrassment, but major tax breaks, a deep recession, and a defense ...