Pressure-group politics, and the persistent political support of large budget deficits, often undercut U.S. laws requiring federal policymakers to achieve full employment, price stability and economic growth. Even when fiscal policy has tempered the business cycle, it did so more because of unintended tax precommitments and Depression-era social legislation than because of full-employment legislation.
|Other Independent Review articles by Jody W. Lipford|
|Spring 2012||Taxpayers and Tax Spenders: Does a Zero Tax Price Matter?|
|Spring 2007||Adam Smiths Roles for Government and Contemporary U.S. Roles: Is the Welfare State Crowding Out Governments Basic Functions?|
|Winter 2004||Armageddon Averted: The Soviet Collapse, 1970–2000|
|[View All (6)]|