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Fiscal Therapy
Book

Fiscal Therapy

Curing America's Debt Addiction and Investing in the Future

William G. Gale
Oxford UP, 2019

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Editorial Rating

8

Qualities

  • Analytical
  • Well Structured
  • Visionary

Recommendation

Even before the coronavirus blew up US spending, deep tax cuts and underfunded investments had stoked massive public debt, threatening America’s economic health. In this thought-provoking work, economist William G. Gale incisively explains how tax and budget policies cripple growth and prosperity. His grounded, broad-based proposal does not include radical new ideas or punitive measures; rather, he’s assembled solid concepts from a spectrum of political voices into a cohesive, workable whole. Gale’s guidance may be all the more necessary in a post-pandemic economy.

Take-Aways

  • The United States has a debt problem.
  • America did not reach its debt cliff by accident but through political choices.
  • Officials need to return the debt-to-GDP ratio to a rational level.

About the Author

William G. Gale is a senior fellow at the Brookings Institution and the co-director of the Tax Policy Center.

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