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 2: What Happened and What Was Learned
What Happened and What Was Learned
FROM 1979 ONWARD, deficits began to grow, seemingly uncontrollably. Awareness of deficits and various responses to them, both symbolic and real, began in 1981, during the early Reagan administration, although some participants start the story earlier or later. Major events are ...