America's Fiscal Constitution (93 page)

     
votes on debt-financed appropriations,
365–367

Budget practices reform/national security budget

     
alternative scenarios/spending,
377–379

     
background/reform need,
375–377
,
377
(fig.)

     
border security and,
377–378

     
Budget Control Act (2011),
376–377
,
377
(fig.)

     
“consensus” and,
379–382

     
Future Years Defense Program,
376–377
,
377
(fig.),
378

     
long-term forecasts and,
379

     
other nations and,
380–381

     
partisan splits on,
379–380

Budgets

     
1995 budget showdown,
315–319

     
“balanced budget at full employment” concept,
261
,
265

     
balancing in future (2012 to present day),
352
,
353
,
370

     
Congressional Budget and Impoundment Control Act (1974),
266

     
“discretionary/nondiscretionary spending,”
371

     
“entitlements” problem argument and,
255
,
296

     
illusions of surplus and,
321–324

     
restoring discipline attempts (1980s),
298–299

     
unified budgets,
322–323

     
See also
Federal budget process
;
specific individuals

Buffet, Warren,
339

Bureau of Printing and Engraving,
107
,
125

Bureau of the Budget,
171

Burke, Edmund,
408

Burns, Arthur,
237
,
262

Burr, Aaron,
42

Bush, George H. W.

     
1992 campaign,
308

     
background,
305

     
as congressman,
244

     
fiscal advice from former presidents,
303

     
fiscal policies,
9
,
301
,
303
,
304
,
305–306

     
Fiscal Tradition and,
325

     
presidential campaign/election,
303

     
Reagan and,
281
,
304
,
306

     
Rostenkowski and,
205
,
304

     
tax promise and,
303
,
304
,
306

     
Tax Reform Act (1986) and,
301

     
“voodoo economics” of Reagan,
281
,
304

Bush, George W.

     
1981 budget debate and,
287

     
2000 campaign/election,
324–325

     
Clinton fiscal policies comparison,
328
,
339
,
341
,
344

     
debt (spending/borrowing),
9–12
,
327–341
,
343–348
,
376
,
407

     
Eisenhower portrait and,
9

     
extension of tax cuts (2012),
353

     
fiscal policies,
9–10
,
324
,
325
,
330

     
foreign creditors and,
339

     
as governor/budgets,
324

     
hiding debt,
10
,
329–330
,
335
,
337–338

     
interest rates and,
339

     
Medicare expansion/prescription drugs,
9–11
,
325
,
334–337
,
405

     
Reagan’s policies and,
324

     
recession of 2008

     
and,
344–345
,
346
,
347

     
Republican Congressional majority and,
9
,
326

     
on Social Security,
232
,
330

     
Social Security privatization proposal,
340–341

     
surplus claims,
328–329
,
330
,
331

     
tax cuts/rebates and,
9–12
,
328
,
329
,
330–334
,
338
,
343
,
344–345

     
terrorist attacks/fiscal consequences,
331–333

     
See also
Afghanistan War
;
Iraq War
;
War on Terror

Byrd, Harry

     
background,
237
,
239–240

     
fiscal policies,
237
,
239
,
245
,
247
,
248–249
,
285
,
310

     
Johnson and,
248

Byrnes, James,
215

Byrnes, John,
244
,
252

Calhoun, John C.

     
Congress/fiscal policy and,
53
,
60
,
61
,
66
,
74–75
,
149

     
defending slavery,
83–84

     
disregarding federal laws and,
77

     
monetary expansion concept and,
81

     
Panic of 1837/consequences and,
81
,
83

     
Texas annexation and,
84

     
Van Buren/Jackson and,
72
,
73
,
76
,
78
,
86

     
War of 1812 and,
59

Cameron, Simon,
104
,
112

Campbell, George,
55

Cannon, Joe,
141
,
147
,
153

Cannon, Lou,
279

Capital

     
Great Britain burning,
55–56

     
location/Jefferson’s dinner (1790) and,
31–32

Card, Andrew,
328

Carey, Mathew,
59–60

Carlisle, John,
133

Carnegie, Andrew,
127

Carter, Jimmy

     
background,
268
,
271

     
defense spending and,
275–276
,
291

     
Democratic primaries (1976),
268

     
fiscal policies/budgets,
268
,
271–274
,
275–276
,
278
,
283
,
303

     
hostages in Iran,
276
,
281

Casey, William,
281

CBO.
See
Congressional Budget Office

Central bank/banking

     
Aldrich and,
150–151
,
155

     
Civil War and,
108–109

     
continuing debate on,
34–35

     
Democratic platform (1912),
155

     
early 1800s and,
57
,
60
,
63

     
Federal Reserve Act (1913),
156
,
165

     
Hamilton and,
29
,
33–35

     
land sales and,
63
,
64

     
Panic of 1819 and,
64–65

     
Panic of 1907 and,
148
,
149–150

     
party alignments and,
35

     
situation before,
148–150

     
Wilson administration and,
155–156

     
See also
Federal Reserve

CETA (Comprehensive Employment and Training Act/1973),
267
,
274–275

Chafee, Lincoln,
329

Chandler, Zachariah,
111
,
116

Chase, Salmon

     
as antislavery activist,
87–88
,
90
,
94

     
background,
87–88

     
Barnburners and,
87

     
fiscal policies,
93
,
94
,
103–107
,
108–109

     
as governor,
93
,
95–96

     
Lincoln administration/Civil War and,
103–107
,
108–109
,
119

     
paper currency and,
94
,
106

     
politics,
95–96
,
122

     
Senate and,
89
,
103

Cheney, Dick

     
fiscal policies/tax cuts,
267
,
287
,
332–333

     
Ford administration,
267

     
military budget/strategies and,
304
,
334

China

     
economy,
381

     
investments in US Treasury debt,
339
,
355

     
military and,
381

     
Nixon’s trip to,
263

     
Soviet Union and,
221

     
See also
Korean War

Chinn, Julia,
79

Churchill, Winston,
183
,
212
,
215

Civil Rights Act (1964),
250

Civil War

     
beginnings,
100

     
Confederate economy/finances,
103
,
106–108

     
retiring debt,
110
,
112–114
,
119–120
,
151
,
156
,
157
,
213

     
tax/spending policies,
93
,
95

     
Union fiscal policy/finances,
2
,
103
,
104–107
,
108–110
,
338

     
using short-term debt,
81

     
veterans’ pensions,
115
,
122
,
124
,
125
,
130
,
145

     
veterans politics following,
111–112

     
See also specific individuals

Civilian Conservation Corps,
191

Clark, Champ,
153
,
154

Clay, Henry

     
Congress/fiscal policy and,
53

     
death,
89

     
Jackson/Van Buren and,
76
,
77
,
78

     
John Quincy Adams/administration and,
70
,
73–74
,
76