MARC Record from Library of Congress

LEADER: 03857cam a2200373 i 4500
001 2012540282
003 DLC
005 20130830144621.0
008 130219s2013 nyua b 001 0 eng
010 $a 2012540282
020 $a9780307947642 (pbk.)
040 $aDLC$beng$cDLC$erda$dDLC
042 $apcc
043 $an-us---
050 00 $aHJ8101$b.J64 2013
082 00 $a336.3/40973$223
100 1 $aJohnson, Simon,$d1963-
245 10 $aWhite House burning :$bour national debt and why it matters to you /$cSimon Johnson and James Kwak.
250 $aFirst Vintage Books Edition.
264 1 $aNew York :$bVintagea Books, a division of Random House, Inc.,$c2013.
300 $a368 pages :$billustrations ;$c21 cm
336 $atext$2rdacontent
337 $aunmediated$2rdamedia
338 $avolume$2rdacarrier
500 $a"With a new epilogue" -- cover.
500 $aPortions of this work orginally appeared in Bloomberg View (March, 2012).
520 $a"America is mired in debt--more than $30,000 for every man, woman, and child. Bitter fighting over deficits, taxes, and spending bedevils Washington, D.C., even as partisan gridlock has brought the government to the brink of default. Yet the more politicians on both sides of the aisle rant and the citizenry fumes, the more things seem to remain the same. In White House Burning, Simon Johnson and James Kwak--authors of the national best seller 13 Bankers and cofounders of The Baseline Scenario, a widely cited blog on economics and public policy--demystify the national debt, explaining whence it came and, even more important, what it means to you and to future generations. They tell the story of the Founding Fathers' divisive struggles over taxes and spending. They chart the rise of the almighty dollar, which makes it easy for the United States to borrow money. They account for the debasement of our political system in the 1980s and 1990s, which produced today's dysfunctional and impotent Congress. And they show how, if we persist on our current course, the national debt will harm ordinary Americans by reducing the number of jobs, lowering living standards, increasing inequality, and forcing a sudden and drastic reduction in the government services we now take for granted. But Johnson and Kwak also provide a clear and compelling vision for how our debt crisis can be solved while strengthening our economy and preserving the essential functions of government. They debunk the myth that such crucial programs as Social Security and Medicare must be slashed to the bone. White House Burning looks squarely at the burgeoning national debt and proposes to defuse its threat to our wellbeing without forcing struggling middle-class families and the elderly into poverty. Carefully researched and informed by the same compelling storytelling and lucid analysis as 13 Bankers, White House Burning is an invaluable guide to the central political and economic issue of our time. It is certain to provoke vigorous debate"--$cProvided by publisher.
520 $a"By the authors of the national bestseller 13 Bankers, a chilling account of America's unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower if it is not addressed soon, why this might be impossible given the hypocrisy about government deficits prevalent in Washington today--and what is to be done"--$cProvided by publisher.
504 $aIncludes bibliographical references (pages 255-339) and index.
505 0 $aImmortal credit -- End of gold -- Deficits don't matter -- What does the Federal government do? -- Why worry -- Arguing first principles -- Where do we go from here?.
650 0 $aDebts, Public$zUnited States.
650 0 $aGovernment spending policy$zUnited States.
650 0 $aBudget deficits$zUnited States.
700 1 $aKwak, James.