America's Fiscal Constitution (99 page)

     
politics,
152
,
154
,
167

     
Wilson administration,
155
,
161
,
162
,
163
,
164
,
166

     
World War I/financing and,
161
,
162
,
163
,
164
,
165
,
208

McCabe, Thomas,
233
,
234

McCain, John

     
2000 campaign and,
324–325

     
background,
334

     
fiscal policies,
10
,
329
,
334

     
recession of 2008 and,
346

McCarthy, Joseph,
221

McClellan, George,
104

McClellan, John,
249

McCormack, John,
253

McCulloch, Hugh,
110
,
112
,
113–114

McCulloch, James W.,
64

McCulloch v. Maryland
,
64

McKinley Tariff,
130
,
134

McKinley, William

     
background,
134

     
campaign/presidency,
134
,
135
,
136–137

     
death,
141

McNamara, Robert,
248
,
255

McNary-Haugen farm bill,
178
,
179

Medicaid

     
1970,
263

     
1990s and,
313
,
315
,
318
,
319

     
“bending the cost curve” and,
351

     
creation,
229
,
251–254

     
dual eligibility,
303

     
eligibility amendments,
254

     
financing problems,
351–352

     
precursor,
7
,
231
,
250

     
reform needs,
390–391

     
rising costs and,
255

     
state funding and,
303

Medical costs

     
background/need for reform,
383–385

     
federal medical programs origins,
383

     
Fiscal Tradition collapse and,
385

     
fraud reduction and,
315–316

     
Gingrich and,
314
,
315–319

     
recession of 2008 and,
385

     
veterans and,
376
,
379
,
380

     
See also specific insurance types

Medical insurance

     
AMA and,
251
,
253

     
Blue Cross programs,
231
,
384

     
employer-based (by 1960),
250

     
employer-based tax advantage,
384
,
399–400

     
employers/World War II and,
210–211
,
384

     
hospital insurance,
231
,
367

     
insurance pools and,
384

     
medical costs increases and,
254

     
for older Americans/Mills work and,
250–254

     
origins/history,
383
,
384

     
payroll taxes and,
252

     
trends following creation,
254–255

     
Truman and,
227
,
231
,
367

     
See also
Affordable Care Act
;
Medicaid
;
Medicare

Medicare

     
1970,
263

     
1990s and,
306
,
307
,
311
,
313
,
314
,
315–317
,
318
,
319

     
accounting/funding complexity,
254

     
actuary information and,
254–255

     
Baby Boomers and,
4
,
10
,
11
,
13
,
320–321
,
322
,
332
,
335
,
337
,
353
,
358
,
376
,
385–387
,
386
(fig.),
388
,
404

     
“bending the cost curve” and,
351

     
creation/funding,
229
,
251–254
,
255
,
284
,
404–405

     
dual eligibility,
303

     
expansion dilemma (2000s),
348

     
expansion of coverage (late 1980s),
302–303

     
expansion/prescription drugs,
9–11
,
325
,
334–337
,
367
,
384
,
405

     
financing problems,
302–303
,
348
,
351–352
,
367
,
384
,
385–387
,
386
(fig.),
388–390
,
401
,
407–408

     
first 5 years,
263

     
HMOs and,
318
,
319

     
“lockbox” metaphor,
325

     
popularity of,
253
,
259

     
reform/tax financing of,
367–368

     
rising costs and,
255

     
Sustainable Growth Rate,
319

Medicare Catastrophic Coverage Act (1988) passage/repeal,
302–303

Medicare Part A,
252
,
293
,
303
,
311
,
335

Medicare Part B,
252
,
263
,
297
,
303
,
335
,
367
,
384

Medicare Part C,
318
,
319

Medicare Part D,
9–11
,
325
,
334–337
,
367
,
384
,
405

Medicare Prescription Drug Improvement and Modernization Act (2003),
9–11
,
325
,
334–337

Medicare reform

     
Medicare budget balancing alternatives,
387–388

     
“pay as you go” and,
388–390

Mediterranean Fund,
43–44
,
192

Mellon, Andrew

     
background,
169

     
Great Depression and,
185

     
tax reform (“scientific taxation”),
170
,
174–177
,
178
,
181
,
280

     
on taxes during/after World War I,
163

     
Treasury/fiscal policies,
169–170
,
172
,
174–177
,
179–180

Memminger, Christopher,
107

Mexican-American War,
84–85
,
86

Mexican Cession (1848),
84–85

Mexican silver,
80
,
118

Mills, Wilbur

     
background,
229
,
305

     
fiscal policies,
3
,
237–238
,
244
,
246
,
256
,
260
,
285

     
political power of,
243–244
,
251–252
,
256
,
257
,
260
,
261
,
285

     
presidential run,
264
,
265

     
Social Security, Medicare, Medicaid,
6–7
,
10
,
229
,
230
,
250–254
,
255
,
263
,
264–265
,
367

     
unemployment insurance and,
244

Missouri Compromise (1820),
89

Mondale, Walter,
298

“Monetary and Fiscal Framework for Economic Stability, A” (Friedman),
223

Monetary expansion concept,
81

Monetization of debt

     
description,
81

     
Federal Reserve and,
81
,
132
,
156
,
186
,
187
,
223
,
233–234
,
235
,
262
,
350
,
401
,
402

Monroe, James

     
attacks on US shipping and,
52

     
background,
46–47
,
67

     
Jefferson and,
32

     
Louisiana Purchase/France,
46–47
,
48

     
Madison administration,
52
,
55–56

     
Madison and,
25
,
31
,
52

     
personal debt,
67

     
political parties and,
62–63
,
71

     
presidency,
62–67
,
71

     
states joining Union and,
24

     
Virginia election (1788),
25

     
War of 1812 and,
55–56
,
59

Morgan, J. P.,
132
,
142–143
,
150
,
169

Morgenthau, Henry, Jr.

     
background,
194

     
fiscal policies/World War II finances,
197
,
208
,
210
,
211
,
212
,
213

Morrill Act,
99

Morrill, Justin

     
as anti-slavery,
94
,
95

     
background,
94
,
95

     
first Republican budget plan,
98–99

     
fiscal policies,
93
,
95
,
97
,
105–106
,
108
,
112
,
113
,
114
,
128
,
170

     
politics and,
98

Morrill Tariff,
100

Morris, Robert

     
background,
22
,
32
,
37

     
capital location and,
31–32

     
Constitution and,
56

     
Philadelphia meeting (1787),
22

Mortmain, British law,
27

Murphy, Charles,
154
,
167

Myers, Robert,
229
,
231
,
264

Napoleon.
See
Bonaparte, Napoleon

Napoleonic Wars/effects,
44
,
47
,
50–51
,
62
,
76

National Bank Act (1863),
109