White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You

White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You

Simon Johnson, James Kwak


America is mired in debt—more than $30,000 for each guy, lady, and baby. sour battling over deficits, taxes, and spending bedevils Washington, D.C., while partisan gridlock has introduced the govt. to the threshold of default. but the extra politicians on each side of the aisle rant and the citizenry fumes, the extra issues appear to stay the same.
 
In White apartment Burning, Simon Johnson and James Kwak—authors of the nationwide most sensible vendor 13 Bankers and cofounders of The Baseline Scenario, a extensively mentioned web publication on economics and public policy—demystify the nationwide debt, explaining whence it got here and, much more vital, what it capacity to you and to destiny generations. They inform the tale of the Founding Fathers’ divisive struggles over taxes and spending. They chart the increase of the almighty buck, which makes it effortless for the USA to borrow funds. They account for the debasement of our political procedure within the Eighties and Nineteen Nineties, which produced today’s dysfunctional and impotent Congress. and so they exhibit how, if we persist on our present path, the nationwide debt will damage usual american citizens via lowering the variety of jobs, decreasing residing criteria, expanding inequality, and forcing a surprising and drastic relief within the govt companies we now take for granted.
 
But Johnson and Kwak additionally offer a transparent and compelling imaginative and prescient for the way our debt obstacle should be solved whereas strengthening our economic climate and maintaining the basic capabilities of presidency. They debunk the parable that such the most important courses as Social safeguard and Medicare has to be slashed to the bone. White residence Burning looks squarely on the burgeoning nationwide debt and proposes to defuse its possibility to our wellbeing and fitness with out forcing suffering middle-class households and the aged into poverty.
 
Carefully researched and knowledgeable through an analogous compelling storytelling and lucid research as 13 Bankers, White apartment Burning is a useful advisor to the principal political and financial factor of our time. it really is sure to impress energetic debate.

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