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The Great Deficit Scares
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Robert Eisner,
Century Foundation Press,
10/15/1997
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Table of Contents (pdf)
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Read the Foreword
Read the Introduction
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The federal budget deficit has preoccupied the administration and Congress for the past five years, culminating in this year’s balanced budget agreement. The seemingly endemic U.S. trade deficit continues to arouse great consternation in the business press. And the prospect of Social Security deficits in the next century has spurred debate about the need for drastic measures to resolve what’s perceived to be an imminent crisis. But the most dangerous deficits facing the nation are shortfalls in the public’s grasp of these complicated issues, Distinguished economist Robert Eisner claims that all three of these deficits—budget, trade and Social Security—are less ominous than politicians and the mainstream media have led us to believe. He acknowledges that the deficits should not be ignored, but he worries that hyperbolic political rhetoric and basic economic misunderstandings have contributed to greatly overblown fears about the dangers each deficit poses.
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Edition: Paper
ISBN: 0870784110
Pages: 78
Price: $9.95
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Taking Note
